WeVote
Log In

Bill

Bill

A 351

Relates to surplus funds

2025 Regular Session Introduced by Steve Otis and 1 co-sponsor

Sets rules for how surplus property tax funds are defined and distributed by municipalities, affecting taxpayers, school districts, and local governments.

REFERRED TO REAL PROPERTY TAXATION
0
WeVote Research Nonpartisan
Bill Summary · A 351

Summary of New York Assembly Bill A 351 — Relates to surplus funds

Overview

  • Bill number: A 351
  • Title: Relates to surplus funds
  • Purpose (per title): Addresses issues related to surplus funds, in the context of real property taxation.
  • Status: Referred to Real Property Taxation (introduced and referred on 2025-01-08). Note: The provided information shows two identical “referred to Real Property Taxation” entries on the same date.
  • Introduced: January 8, 2025
  • Classification: Assembly bill
  • Sponsors:
    • Primary sponsor: Amy Paulin
    • Cosponsor: Steven Otis

Key Provisions (current available information)

  • The exact legislative text and substantive provisions are not included in the provided material.
  • As a result, the specific changes to law, definitions of “surplus funds,” and the mechanisms for how surplus funds would be handled (e.g., allocation, refunds, rebates, or contingency/escrow use) are not detailed here.
  • The title indicates a focus on surplus funds within the realm of real property taxation, but the precise scope, triggers, eligibility, timelines, and fiscal impacts remain to be seen in the full bill text.

Potential Scope and Implications (conceptual, pending text)

  • Possible areas the bill could address:
    • Definition of surplus funds related to property taxes or assessments (e.g., excess tax collections, rebate funds, or reserve/distribution of overage funds).
    • Procedures for how municipalities or taxing districts must handle surplus funds.
    • Allocation or distribution rules (who receives surplus funds and under what conditions).
    • Reporting, transparency, and oversight requirements for surplus fund handling.
    • Penalties or remedies for misallocation or improper use of surplus funds.
  • Potential affected parties:
    • Local governments and municipal tax assessors
    • Property taxpayers and property owners
    • School districts and other taxing districts
    • State or local agencies administering property tax programs
  • Fiscal and policy considerations depend on the enacted language (timing, caps, distribution formulas, and eligible uses).

Affected Parties and Stakeholders

  • Municipalities and counties administering property tax collection
  • Tax assessors and fiscal officers
  • Property owners and taxpayers
  • School districts and special districts funded by property tax

Procedural and Timeline Details

  • Current posture: In committee (Real Property Taxation). No further actions or votes are listed in the provided material.
  • Next expected steps (subject to bill text and committee decisions):
    • Committee hearings and amendments
    • Potential floor debate and passage in the Assembly
    • Possible companion action in the Senate and enactment process
    • If enacted, implementation date and any transition provisions

Related Legislation

  • Related prior-session bills:
    • A 10549
    • A 3498
    • A 304
  • These related bills may provide context or prior proposals on surplus funds and real property taxation, though specific provisions are not described here.

Notes

  • The summary focuses on available information. The exact provisions, definitions, and fiscal impact will become clear only upon release of the bill text and committee analysis. If you can share the full bill text or committee memo, I can provide a more detailed, provision-by-provision summary.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.