Public Schools

Cuomo Vetoes Teacher Pension Borrowing Bill

by Associated Press
Flickr/ Azi Paybarah

 ALBANY, N.Y. (AP)  -- Gov. Andrew Cuomo has vetoed legislation that would have allowed school districts to issue bonds to cover teacher pensions and effectively carve out an exception for that cost from property tax caps that take effect next year.

The bonds plus interest would have been paid off over 15 years.

Cuomo says Wednesday that families across New York have been forced to cut back and live within their means, and school districts must do the same.

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