Bill > A07480

This bill provides a special financial apportionment for specific school districts with a population between 195,000 and 219,000 inhabitants, allowing them to receive additional funding to cover increased public pension liability expenses for the 2023-2024 and 2024-2025 school years. The bill amends an existing law that previously provided similar funding for pension-related expenses in 2004-2005 and 2005-2006. To receive this apportionment, the school district must apply to the commissioner of education by June 30, 2025, and have the application approved by the board of education or trustees (and in the case of city school districts with over 125,000 inhabitants, also approved by the mayor). The amount of the apportionment will be limited to the additional accruals required for public pension liabilities during those two specific school years. The bill will take effect on April 1, 2025, or immediately upon becoming law, with retroactive effect to that date.

Education

https://www.nysenate.gov/legislation/bills/2025/A7480