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New YorkS 101022025-2026 Regular SessionSenateWALLET

Provides for the implementation of certain parts of the state fiscal plan for the 2026-2027 state fiscal year

Sponsored By: José M. Serrano (Democratic)

Became Law

RULESWAYS AND MEANS

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 0 costs, 2 mixed.

State aid advance for South Country schools

The South Country Central School District can get an early state aid payment each year from 2025–26 through 2054–55. The amount equals up to $7,000,000 × ((30 − years since 2025–26) ÷ 30). The district must apply in June on the Commissioner’s form (between the second Monday and the Friday after the third Monday). For 2025–26, the application is due by May 7, 2026. Approved aid is paid by June 30 each year (by May 18, 2026 for 2025–26) after state approvals. The state then deducts that same amount from the district’s aid the next year, starting with fixed fall payments, then other payments in date order. For future aid math, the advance plus current payments count as the year’s total aid. From 2026–27 to 2054–55, the CFO must file quarterly budget reports and a GAAP trial balance within 60 days after each quarter. Reports go to the school board, the Division of Budget, the State Comptroller, the Commissioner of Education, and the chairs of Assembly Ways and Means and Senate Finance. These rules start April 1, 2026 and end June 30, 2055.

South Country deficit bonds and tax levy

The district may issue up to $11,000,000 in serial bonds or notes by October 31, 2027. Money can be used only to pay the certified general fund deficit from the year ending June 30, 2026. The school board may levy property taxes in annual installments to pay principal and interest on this debt. The board must adjust proposed budgets to follow recommendations from the State Comptroller and the Commissioner of Education. Any bond money left after covering the certified deficit must be handled under the Comptroller’s planned balance rules. These rules take effect April 1, 2026 and end December 31, 2037.

Sponsors & Cosponsors

Sponsor

  • José M. Serrano

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 75 • No: 1

committee vote • 4/29/2026

Rules Committee Vote

Yes: 18 • No: 0

Senate vote • 4/29/2026

FLOOR Vote

Yes: 57 • No: 1

Actions Timeline

  1. SIGNED CHAP.107

    4/29/2026Senate

  2. DELIVERED TO GOVERNOR

    4/29/2026Senate

  3. RETURNED TO SENATE

    4/29/2026House

  4. PASSED ASSEMBLY

    4/29/2026House

  5. MESSAGE OF NECESSITY - 3 DAY MESSAGE

    4/29/2026House

  6. ORDERED TO THIRD READING RULES CAL.105

    4/29/2026House

  7. SUBSTITUTED FOR A11166

    4/29/2026House

  8. REFERRED TO WAYS AND MEANS

    4/29/2026House

  9. DELIVERED TO ASSEMBLY

    4/29/2026Senate

  10. PASSED SENATE

    4/29/2026Senate

  11. MESSAGE OF NECESSITY - 3 DAY MESSAGE

    4/29/2026Senate

  12. ORDERED TO THIRD READING CAL.877

    4/29/2026Senate

  13. REFERRED TO RULES

    4/29/2026Senate

Bill Text

  • Original

    4/29/2026

    PDF

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