Bill Text: NY A11276 | 2017-2018 | General Assembly | Introduced
Bill Title: Relates to tax certiorari proceedings by the Long Island power authority.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2018-07-25 - referred to corporations, authorities and commissions [A11276 Detail]
Download: New_York-2017-A11276-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 11276 IN ASSEMBLY July 25, 2018 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Lavine) -- read once and referred to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to tax certior- ari proceedings by the Long Island power authority The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision (u) of section 1020-f of the public authorities 2 law is amended by adding a new paragraph 5 to read as follows: 3 5. Notwithstanding any law, rule, or regulation to the contrary, in 4 the event that the authority either succeeds in a tax certiorari chal- 5 lenge against a municipality on one or more of its electric generating 6 facilities or agrees to a reduction in its property taxes or payments in 7 lieu of taxes paid through a settlement agreement with a municipality on 8 one or more of its electric generating facilities, any savings in prop- 9 erty taxes or payments in lieu of taxes paid by the authority shall be 10 used solely to reduce the rates paid by its ratepayers. 11 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD16328-03-8
