Bill > A05461

This bill adjusts the state aid formula for cities located in counties with a specific state office building project (the "South Mall" project in Albany). Currently, the bill provides a fixed state aid amount of $15,000,000 for the 2024-2025 fiscal year, but proposes to change this to $35,500,000 for the 2024-2025 fiscal year. More significantly, for state fiscal years beginning on or after April 1, 2025, the bill introduces a new calculation method where the state aid amount will be determined by multiplying the previous year's amount by the "allowable levy growth factor" as defined in the general municipal law. The allowable levy growth factor is typically a measure that helps calculate permissible increases in local government budgets, essentially allowing the state aid to potentially increase annually based on a predefined economic growth metric. This change could provide more dynamic and potentially increasing state aid to the affected city compared to the previous fixed amount approach.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A5461