Imposes a school impact tax on developers of non-senior housing to fund new public schools.

New York Assembly Bill A01346 proposes a school impact tax on developers of non-senior housing developments. The tax, imposed on a per-unit basis, is intended to fund the construction of new public kindergarten through twelfth grade schools. Developers will be notified of the tax when they receive their certificate of occupancy. The Department of Finance will have the authority to create rules for the tax's implementation, including the distribution of collected funds.

Imposes a school impact tax on developers of non-senior housing to fund new public schools.

New York Assembly Bill A01346 proposes a school impact tax on developers of non-senior housing developments. The tax, imposed on a per-unit basis, is intended to fund the construction of new public kindergarten through twelfth grade schools. Developers will be notified of the tax when they receive their certificate of occupancy. The Department of Finance will have the authority to create rules for the tax's implementation, including the distribution of collected funds.