Hawley: $3B windfall to NY should go to schools
State Assemblyman Steve Hawley, R-Batavia, wants to see a $3 billion windfall headed to New York be directed to school districts.
The Republican Majority in the State Senate also wants to see New York’s $3 billion share from French Bank BNP Paribas go to schools. The bank agreed to an overall $9 billion settlement after repeated violations of U.S. sanctions.
Hawley said the $3 billion should go towards education funding that was lost due to the Gap Elimination Adjustment. This would require using $1 billion to restore the GEA and then committing the remaining $2 billion to scheduled school aid increases, Hawley said.
The issue issue is a high priority due to the fiscal challenges faced by small, rural school districts that do not receive an equitable distribution of state school aid compared to New York City schools, he said.
“Delivering a high quality education to our kids is the key to giving them to best possible future,” Hawley said. “The money we have gained through the Paribas settlement should go to ensuring that our local school districts have the resources they need to provide our kids the best possible education. As a father, this is a very important issue to me and I’ll be working to make sure that our schools get this money and our kids receive the education they deserve.”
The State Senate plan also would direct some of the money coming to the state for tax relief and infrastructure projects.