Bill Text: NY A07802 | 2019-2020 | General Assembly | Introduced

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Bill Title: Provides that for the tax year starting December 1, 2020, payments in lieu of taxes shall not equal more than two percent of the increase in total tax rate for the current tax year over the total tax rate of the prior tax rate, if any, based upon the assessed value as reflected on the final assessment roll of the current tax year.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - referred to corporations, authorities and commissions [A07802 Detail]

Download: New_York-2019-A07802-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7802

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                      May 23, 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 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] tax year starting  on  [Janu-
    11  ary] December first, two thousand [fifteen] twenty, and for each [calen-
    12  dar]  tax  year  thereafter,  such  payments in lieu of taxes shall [not
    13  exceed the in lieu of tax  payments  made  to  such  municipalities  and
    14  school  districts  in  the  immediately  preceding year by more than two
    15  percent] equal no more than two percent of the  increase  in  total  tax
    16  rate  for  the current tax year over the total tax rate of the prior tax
    17  year, if any, based upon the assessed value as reflected  on  the  final
    18  assessment roll of the current tax year.
    19    § 2. This act shall take effect immediately.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11579-01-9