NY bill for teacher pension borrowing advances

By Associated Press

ALBANY, N.Y. (AP) - Even before voting on a much touted
agreement to cap local property taxes, New York lawmakers are
advancing legislation to carve out an exception for teachers' pensions.

The bill would authorize school districts to cover pension costs through borrowing.

The Assembly is debating the bond measure Friday. It was approved by the Senate Thursday.

Assemblyman Michael Fitzpatrick, a Long Island Republican, says
lawmakers have never been able to stand up to the statewide teachers' union and districts should never borrow to pay for retirement costs.

Assemblyman Charles Lavine, a Long Island Democrat, says some
school districts are facing "a monstrously difficult time" coping with the tax cap and need this.

Following state aid cuts, the property tax cap would generally limit annual increases to 2 percent.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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