Bill Text: NY A09026 | 2015-2016 | General Assembly | Introduced

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Bill Title: Enacts the "two percent is two percent property tax cap act" relating to the formula for the real property tax cap.

Spectrum: Slight Partisan Bill (Democrat 14-8)

Status: (Introduced - Dead) 2016-01-19 - referred to ways and means [A09026 Detail]

Download: New_York-2015-A09026-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          9026
                   IN ASSEMBLY
                                    January 19, 2016
                                       ___________
        Introduced by M. of A. SCHIMEL, ARROYO, DUPREY, CAHILL, ABINANTI, DILAN,
          SOLAGES,  LUPINACCI  --  Multi-Sponsored  by -- M. of A. SIMON -- read
          once and referred to the Committee on Ways and Means
        AN ACT to amend the general municipal law  and  the  education  law,  in
          relation to the formula for the real property tax cap
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. This act shall be known  and  may  be  cited  as  the  "two
     2  percent is two percent property tax cap act".
     3    §  2.  Paragraph  (a)  of  subdivision 2 of section 3-c of the general
     4  municipal law, as added by section 1 of part A of chapter 97 of the laws
     5  of 2011, is amended to read as follows:
     6    (a) "Allowable levy growth factor" shall be [the lesser of:  (i)]  one
     7  and  two  one-hundredths[;  or  (ii)  the  sum of one plus the inflation
     8  factor; provided, however, that in no case shall the levy growth  factor
     9  be less than one].
    10    §  3.  Paragraph a of subdivision 2 of section 2023-a of the education
    11  law, as added by section 2 of part A of chapter 97 of the laws of  2011,
    12  is amended to read as follows:
    13    a.  "Allowable  levy  growth factor" shall be [the lesser of: (i)] one
    14  and two one-hundredths[; or (ii) the  sum  of  one  plus  the  inflation
    15  factor;  provided, however, that in no case shall the levy growth factor
    16  be less than one].
    17    § 4. This act shall take effect immediately; provided,  however,  that
    18  the  amendments  to  section  3-c  of  the general municipal law made by
    19  section one of this act shall not affect the repeal of such section  and
    20  shall  be  deemed repealed therewith; provided, further, that the amend-
    21  ments to section 2023-a of the education law made by section two of this
    22  act shall not affect the repeal of such  section  and  shall  be  deemed
    23  repealed therewith.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13547-01-6