Establishes the city of New York education fund from an additional real property tax to support education programs.
The bill establishes the city of New York education fund, which will consist of moneys collected from the additional imposition of one percent of real property taxes on all classes within a city with a population of one million or more. Funding within the city of New York education fund will be used in conjunction with moneys provided through the city's budget to support education programs. Moneys in the fund shall be kept separately from and shall not be commingled with any other moneys in the custody of the city.
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