Creates an emergency in education tax surcharge to fund an omnibus education financing plan in New York city; provides for a maintenance of effort.

New York S04025 creates an emergency in education tax surcharge to fund an omnibus education financing plan in New York city. The surcharge applies to the New York city source adjusted gross income of residents and nonresidents, with rates varying by income level. The surcharge also applies to the tax due under section thirteen hundred four of the tax law. The surcharge is intended to provide immediate, adequate support for public education purposes, including hiring and retaining teachers, teacher training, decreasing class sizes, and equipping and building facilities.

Creates an emergency in education tax surcharge to fund an omnibus education financing plan in New York city; provides for a maintenance of effort.

New York S04025 creates an emergency in education tax surcharge to fund an omnibus education financing plan in New York city. The surcharge applies to the New York city source adjusted gross income of residents and nonresidents, with rates varying by income level. The surcharge also applies to the tax due under section thirteen hundred four of the tax law. The surcharge is intended to provide immediate, adequate support for public education purposes, including hiring and retaining teachers, teacher training, decreasing class sizes, and equipping and building facilities.