Bill Text: NY A06457 | 2019-2020 | General Assembly | Introduced


Bill Title: Provides that payments in lieu of taxes subject to the two percent limit shall be calculated based upon the real property acquired by the authority in the aggregate in each municipality or school district and not on parcel by parcel basis.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2019-03-07 - referred to corporations, authorities and commissions [A06457 Detail]

Download: New_York-2019-A06457-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          6457
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                      March 7, 2019
                                       ___________
        Introduced by M. of A. THIELE -- read once and referred to the Committee
          on Corporations, Authorities and Commissions
        AN  ACT  to  amend  the  public  authorities law, in relation to certain
          payments in lieu of taxes
          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 1020-q of the public authorities
     2  law, as amended by section 8 of part A of chapter 173  of  the  laws  of
     3  2013, is amended to read as follows:
     4    1.  Each year after property theretofore owned by LILCO is acquired by
     5  the authority by any means authorized by this title  and,  as  a  conse-
     6  quence, is removed from the tax rolls, the authority shall make payments
     7  in  lieu  of  taxes  to municipalities and school districts equal to the
     8  taxes and assessments which would have been received from year  to  year
     9  by  each  such  jurisdiction  if  such  acquisition  had  not  occurred,
    10  provided, however, that for the calendar year starting on January first,
    11  two thousand fifteen,  and  for  each  calendar  year  thereafter,  such
    12  payments  in  lieu of taxes shall not exceed the in lieu of tax payments
    13  made to such municipalities and  school  districts  in  the  immediately
    14  preceding  year  by more than two percent. The payments in lieu of taxes
    15  subject to the two percent limit set forth in this subdivision shall  be
    16  calculated based upon the real property acquired by the authority in the
    17  aggregate in each municipality or school district and not on a parcel by
    18  parcel basis.
    19    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10077-02-9
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