Bill Text: NY A07788 | 2017-2018 | General Assembly | Amended

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Bill Title: Relates to the computation of certain building aid.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2017-12-18 - signed chap.480 [A07788 Detail]

Download: New_York-2017-A07788-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         7788--A
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                      May 15, 2017
                                       ___________
        Introduced  by M. of A. MAYER -- read once and referred to the Committee
          on Education -- committee discharged, bill amended, ordered  reprinted
          as amended and recommitted to said committee
        AN  ACT  to  amend  the education law, in relation to the computation of
          certain building aid
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. Paragraph a of subdivision 6 of section 3602 of the educa-
     2  tion law is amended by adding a new subparagraph 7 to read as follows:
     3    (7) Notwithstanding any other provision of law to  the  contrary,  for
     4  the  purpose  of  computation of building aid for three new construction
     5  projects and for the equipping of such projects authorized  pursuant  to
     6  chapter  three  hundred  fifty-five of the laws of two thousand sixteen,
     7  multi-year cost allowances for each project  shall  be  established  and
     8  utilized  two times in the first five-year period. Subsequent multi-year
     9  cost allowances shall be established no  sooner  than  ten  years  after
    10  establishment of the first maximum cost allowance authorized pursuant to
    11  this subparagraph.
    12    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11547-02-7