Bill > S04025

This bill creates an "emergency in education tax surcharge" specifically targeting New York City to fund public education improvements. The bill establishes a graduated tax surcharge on city residents with incomes above $100,000, which will be implemented from 2025 to 2030, gradually reducing from a 1% tax on income above $100,000 and $200,000 to a 0.5% tax on those same income brackets. Additionally, the bill imposes a corresponding surcharge on existing tax liabilities that will similarly decrease over time. The generated revenue is strictly mandated to be used exclusively for public education purposes, such as hiring and retaining teachers, teacher training, reducing class sizes, and improving educational facilities. The bill also requires the city to maintain a separate, transparent accounting of these funds and establishes a maintenance of effort requirement to ensure that these new funds supplement, rather than replace, existing educational funding. Furthermore, the legislation requires the city to appropriate a minimum level of education funding based on either the previous year's city share adjusted for student population changes or the average proportion of the city's expense budget dedicated to education in the preceding three fiscal years. The overall intent is to provide a sustainable, dedicated funding stream to improve educational outcomes in New York City's public school system.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S4025