Bill > A00351

This bill amends the real property tax law to modify how "surplus funds" are defined for school districts during the 2026-2027, 2027-2028, and 2028-2029 school years. Specifically, the bill changes the threshold for what constitutes surplus funds from three or four percent (depending on the previous school year) to five percent of the current school year's budget. Surplus funds are essentially the extra money a school district has beyond its budgeted amount, and this bill allows school districts to retain a slightly larger percentage of unspent funds before those funds are considered "surplus" and potentially subject to different accounting or taxation rules. The legislation appears to provide school districts with more financial flexibility by increasing the threshold of funds they can retain without being classified as having excess resources. The bill takes effect immediately upon passage, allowing school districts to apply this new surplus funds definition for the specified school years.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A351