New York A03560 amends the education law to provide additional reimbursement to school districts for expenses incurred due to late state aid payments.

New York A03560 amends the education law by adding a new section that holds the state liable for interest payments and ancillary expenses incurred by school districts when they do not receive timely payments of state aid. This situation arises if the state fails to adopt the aid to localities budget by April 1st in any fiscal year where budget bills have not been adopted. Within thirty days after the adoption of such budget bills, the governor must prepare and submit chapter amendments to the aid to localities budget to provide additional reimbursement to school districts.

New York A03560 amends the education law to provide additional reimbursement to school districts for expenses incurred due to late state aid payments.

New York A03560 amends the education law by adding a new section that holds the state liable for interest payments and ancillary expenses incurred by school districts when they do not receive timely payments of state aid. This situation arises if the state fails to adopt the aid to localities budget by April 1st in any fiscal year where budget bills have not been adopted. Within thirty days after the adoption of such budget bills, the governor must prepare and submit chapter amendments to the aid to localities budget to provide additional reimbursement to school districts.