Bill Text: NY A04804 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to sewer and water rates for those granted senior citizen real property or persons with disabilities and limited income tax exemptions in the city of New York.

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Introduced - Dead) 2018-01-24 - enacting clause stricken [A04804 Detail]

Download: New_York-2017-A04804-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          4804
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    February 3, 2017
                                       ___________
        Introduced by M. of A. DINOWITZ -- read once and referred to the Commit-
          tee on Corporations, Authorities and Commissions
        AN  ACT  to  amend  the public authorities law, in relation to sewer and
          water rates  for  those  granted  senior  citizen  real  property  tax
          exemptions in the city of New York
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subdivision 1 of section 1045-j of the  public  authorities
     2  law,  as added by chapter 513 of the laws of 1984, is amended to read as
     3  follows:
     4    1. The water board shall establish, fix and revise, from time to time,
     5  fees, rates, rents  or  other  charges  for  the  use  of,  or  services
     6  furnished,  rendered  or made available by, the sewerage system or water
     7  system, or both, as the case may be, owned by the water  board  pursuant
     8  to  this title in such amount  at least sufficient at all times so as to
     9  provide funds in an  amount  sufficient  together  with  other  revenues
    10  available  to the board, if any, (i) to pay to the authority, in accord-
    11  ance with any agreement with the authority, an amount sufficient for the
    12  purpose of paying the principal of and the interest on  the  outstanding
    13  notes or bonds of the authority as the same shall become due and payable
    14  and maintaining or funding a capital or debt service reserve fund there-
    15  for  and,  to  the extent requested by the city in, or annually pursuant
    16  to, the agreement to pay to the city, in accordance with the  agreement,
    17  an  amount  sufficient  for  the  purpose of paying the principal of and
    18  interest on general obligation bonds thereof issued for or allocable  to
    19  the  water system or sewerage system or both, as the case may be, as the
    20  same shall become due and payable, and  to  maintain  or  fund  reserves
    21  therefor,  (ii) to pay to the city, in accordance with the agreement, an
    22  amount sufficient for the purpose of paying the costs of  administering,
    23  maintaining,  repairing and operating and the cost of constructing capi-
    24  tal improvements to the water system or sewerage system or both, as  the
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07589-01-7
        A. 4804                             2
     1  case  may  be, (iii) to pay to the city in accordance with the agreement
     2  entered into pursuant to section one thousand forty-five-i of this title
     3  an amount sufficient for the purpose of paying liabilities issued for or
     4  allocable  to  the  water system or sewerage system or both, as the case
     5  may be, as the same shall become due  and  payable,  (iv)  to  meet  any
     6  requirements  of  any  agreement  including requirements relating to the
     7  establishment of reserves for renewal and  replacement  and  for  uncol-
     8  lected  charges  and  covenants  respecting  rates, (v) to pay all other
     9  reasonable and necessary expenses of the authority and the  water  board
    10  in  relation thereto, and (vi) to the extent requested by the city in or
    11  pursuant to the agreement, to pay or provide for such other purposes  or
    12  projects  as such city considers appropriate and in the public interest.
    13  When setting such rates within  any  city  or  county  that  shall  have
    14  adopted  a local law pursuant to section four hundred sixty-seven and/or
    15  section four hundred fifty-nine-c of the real property  tax  law,  those
    16  real  property  owners  whose  applications for a partial exemption from
    17  taxation as set forth in section four hundred sixty-seven and/or section
    18  four hundred fifty-nine-c of the real property tax law have been granted
    19  shall have their rates for water and sewer charges frozen at the rate in
    20  effect on July first, two thousand seventeen or the date  on  which  the
    21  exemption  aforesaid  is  granted,  whichever  is later, until such rate
    22  equals that produced by multiplying the current full rate times a factor
    23  representing one minus the percentage of assessed valuation exempt  from
    24  taxation  pursuant  to  such section four hundred sixty-seven or section
    25  four hundred fifty-nine-c.   Thereafter, the  rates  of  such  partially
    26  exempted  real  property  owners  shall  increase in such a manner as to
    27  maintain such percentage differential. Any revenue foregone as a  result
    28  of  this reallocation shall be spread among all classes of customer. Any
    29  surplus of funds remaining in the water board after such  payments  have
    30  been made shall be returned to the city for deposit in the general fund.
    31    §  2.  This  act shall take effect on the thirtieth day after it shall
    32  have become a law.