BILL NUMBER: S325
SPONSOR: BAILEY
 
TITLE OF BILL:
An act providing for accelerated payments to the city school district of
the city of Mount Vernon
 
PURPOSE OR GENERAL IDEA:
The purpose of this bill is to help ensure the fiscal stability of the
Mount Vernon city School District by providing for a schedule of state
aid to education payments to the district.
 
SUMMARY OF SPECIFIC PROVISIONS:
The bill prescribes a formula for the distribution of a portion of state
education aid specifically to the Mount Vernon city School District.
Over the period of school years from 2025-2026 though 2052-2053 and to
facilitate budget planning and to provide a rationale for calculating
base amounts of future aid, the bill delineates year by year how the new
formula is to be applied.
 
JUSTIFICATION:
To provide some stability for the school budget planning process, the
bill creates a formula which will be a reliable basis for computing
portions of future state aid payments.
 
PRIOR LEGISLATIVE HISTORY:
2019-20: S2562 - Referred to Education
2021-22: S3353 - Referred to Education
2023-24: S972 - Referred to Education
 
FISCAL IMPLICATIONS:
TBD.
 
EFFECTIVE DATE:
This act shall take effect immediately.