Bill Text: NY S01914 | 2019-2020 | General Assembly | Introduced


Bill Title: Relates to reductions of payments in lieu of taxes; provides that where such payment agreement is to be reduced due to a reassessment of the parcel of real property such agreement is related to, such reduction shall be phased in over 10 years if the reduction would negatively affect the revenues of a local government by more than 5%.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2019-06-20 - COMMITTED TO RULES [S01914 Detail]

Download: New_York-2019-S01914-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          1914
                               2019-2020 Regular Sessions
                    IN SENATE
                                    January 17, 2019
                                       ___________
        Introduced  by Sen. GAUGHRAN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government
        AN ACT to amend the real property tax law, in  relation  to  payment  in
          lieu of taxes agreements
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. The real property tax law is amended by adding a new  arti-
     2  cle 3-A to read as follows:
     3                                 ARTICLE 3-A
     4                     PAYMENT IN LIEU OF TAXES AGREEMENTS
     5  Section 370. Payment in lieu of taxes agreements.
     6    §  370.  Payment  in  lieu of taxes agreements. 1. For the purposes of
     7  this section:
     8    (a) "local government" shall mean any municipal corporation as defined
     9  pursuant to section two of the  general  municipal  law  or  any  school
    10  district or board of cooperative educational services.
    11    (b)  "payment  in  lieu of taxes agreement" or "PILOT agreement" shall
    12  mean an agreement entered into between a local  government  and  another
    13  party  whereby  such  other  party compensates such local government for
    14  some or all of the tax revenue lost due to the  nature  of  the  use  or
    15  ownership  of  a parcel of real property by such other party. The amount
    16  of such payment in lieu of taxes is  based  on  an  assessment  of  such
    17  parcel of real property.
    18    2.  If the amount of any payment in lieu of taxes is reduced, due to a
    19  reassessment of the parcel of real property such  agreement  is  related
    20  to,  and such reduction would negatively impact the total revenue of any
    21  local government by more than five percent, such reduction  in  payments
    22  in lieu of taxes shall be phased in over a ten year period.
    23    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00683-01-9
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