A 2488: Relates to the apportionment of moneys for capital outlays and debt service for school building purposes.

  
  STATE OF NEW YORK ________________________________________________________________________ 2488 2025-2026 Regular Sessions  IN ASSEMBLY January 17, 2025 ___________ Introduced by M. of A. SAYEGH, GIGLIO, SANTABARBARA, REYES, TAYLOR, COOK, STIRPE, SHIMSKY, BURDICK, MANKTELOW, DeSTEFANO, LEMONDES, DAVI- LA, GALLAHAN, BROOK-KRASNY -- Multi-Sponsored by -- M. of A. LEVEN- BERG, SIMON -- read once and referred to the Committee on Education AN ACT to amend the education law, in relation to the apportionment of moneys for capital outlays and debt service for school building purposes 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 "rebuild 2 our schools act". 3 § 2. Subparagraph 2 of paragraph c of subdivision 6 of section 3602 of 4 the education law is amended by adding a new clause (d) to read as 5 follows: 6 (d) For aid payable in the school years two thousand twenty-five--two 7 thousand twenty-six and thereafter for school building projects to reme- 8 dy capacity shortages of high-need school districts, as defined pursuant 9 to regulations of the commissioner in clause (c) of this subparagraph 10 and are located in a county with a population of more than nine hundred 11 forty thousand and less than one million inhabitants according to the 12 two thousand ten federal census, as approved by the voters of such 13 school district or by such board of education of a city school district 14 in a city with more than one hundred twenty-five thousand inhabitants, 15 on or after July first, two thousand twenty-one, may compute aid under 16 the provisions of this subdivision using the high-need secondary supple- 17 mental building aid ratio, which shall be the lesser of: (A) the prod- 18 uct, computed to three decimals without rounding, of the greater of the 19 building aid ratios computed pursuant to subclauses (i), (ii) and (iii) 20 of clause (b) of this subparagraph multiplied by ten percent; or (B) the 21 positive remainder of ninety-eight one-hundredths less the greater of 22 the building aid ratios computed pursuant to subclauses (i), (ii) and EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02727-01-5 
 A. 2488 2 1 (iii) of clause (b) of this subparagraph. School building projects 2 eligible for aid pursuant to this clause shall include projects to 3 address capacity shortages of at least ten percent of the calculated 4 capacity of the district or at least ten percent of the calculated 5 capacity of elementary or secondary schools of the district, as deter- 6 mined by the commissioner. 7 § 3. This act shall take effect immediately.