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A01104 Summary:

MLTSPNSRBrennan, Katz, Lavine, Peoples-Stokes, Perry, Robinson, Russell, Thiele
Add Title V Art 71 SS3501 - 3506, amd SS1909, 3601, 3602 & 3651, Ed L; rpld Art 13, amd RPT L, generally; rpld SS1204, 1211 & 1212, S1261 sub (e), S1262 sub (e), amd Tax L, generally
Makes provisions for the state to assume all costs of basic quality education and for the elimination of real property taxes for the support of education; requires board of regents to establish a schedule of mandatory basic services and costs thereof; provides that school districts shall submit an annual basic budget to the department of education for basic services; increases taxes on personal income and business; makes special provisions for reduction of tax in certain cities and for reduction in rent by tenants in such cities; provides for phased in methods of funding using a "Basic Quality Education" formula; repeals certain provisions of the tax law and real property tax law relating thereto.
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