Bill > S00299

This bill allows school districts with a very low combined wealth ratio (specifically 0.35 or less) to establish a special reserve fund to help manage future school year expenditures without requiring voter approval. The reserve fund would be designed to help these financially constrained districts manage their spending in a way that does not exceed their tax levy limit, which is a cap on how much additional property tax revenue a school district can raise each year. The bill specifies that the amount in the reserve fund must be a reasonable estimate of anticipated increased expenditures, and any money in the fund that is not likely to be used must be returned to the general fund within three years after deposit. Essentially, this legislation provides a financial planning tool for school districts with limited economic resources, giving them more flexibility to save and budget for future educational expenses without needing to go through a complex voter approval process.

Education

https://www.nysenate.gov/legislation/bills/2025/S299