Bill Text: NY S02504 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to funding to local government entities from the urban development corporation when an operational facility demonstrates that its electricity generation was less than 15% of its total generating capacity.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2020-01-08 - REFERRED TO FINANCE [S02504 Detail]
Download: New_York-2019-S02504-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2504 2019-2020 Regular Sessions IN SENATE January 25, 2019 ___________ Introduced by Sen. HELMING -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend subpart H of part C of chapter 20 of the laws of 2015, appropriating money for certain municipal corporations and school districts, in relation to funding to local government entities from the urban development corporation The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 1 of subpart H of part C of chapter 20 of the laws 2 of 2015, appropriating money for certain municipal corporations and 3 school districts, as amended by section 1 of part AAA of chapter 59 of 4 the laws of 2018, is amended to read as follows: 5 Section 1. Contingent upon available funding, and not to exceed 6 $69,000,000 moneys from the urban development corporation shall be 7 available for a local government entity, which for the purposes of this 8 section shall mean a county, city, town, village, school district or 9 special district, where: (a) (i) on or after June 25, 2015, an electric 10 generating facility located within such local government entity has 11 ceased operations, [and] or (ii) that an operational facility demon- 12 strates that its actual electricity production in the prior year was 13 less than 15% of its total generating capacity; and (b) the closing or 14 diminished electricity production of such facility pursuant to subdivi- 15 sion (a) of this section has caused a reduction in the real property tax 16 collections or payments in lieu of taxes of at least twenty percent owed 17 by such electric generating facility. Such moneys attributable to the 18 cessation of operations or diminished electricity production, shall be 19 paid annually on a first come, first served basis by the urban develop- 20 ment corporation to such local government entity within a reasonable 21 time upon confirmation from the state office of real property tax 22 services or the local industrial development authority established 23 pursuant to titles eleven and fifteen of article eight of the public EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD04947-01-9S. 2504 2 1 authorities law, or the local industrial development agency established 2 pursuant to article eighteen-A of the general municipal law that such 3 cessation or diminished electricity production has resulted in a 4 reduction in the real property tax collections or payments in lieu of 5 taxes, provided, however, that the urban development corporation shall 6 not provide assistance to such local government entity for more than 7 seven years, and shall award payments reflecting the loss of revenues 8 due to the cessation of operations or diminished electricity production 9 as follows: 10 Award Year Maximum Potential Award 11 1 no more than eighty percent of loss of revenues 12 2 no more than seventy percent of loss of revenues 13 3 no more than sixty percent of loss of revenues 14 4 no more than fifty percent of loss of revenues 15 5 no more than forty percent of loss of revenues 16 6 no more than thirty percent of loss of revenues 17 7 no more than twenty percent of loss of revenues 18 A local government entity shall be eligible for only one payment of 19 funds hereunder per year. A local government entity may seek assistance 20 under the electric generation facility cessation or diminished electric- 21 ity production mitigation fund once a generator has submitted its notice 22 to the federally designated electric bulk system operator (BSO) serving 23 the state of New York of its intent to retire the facility or of its 24 intent to voluntarily remove the facility from service subject to any 25 return-to-service provisions of any tariff, and that the facility also 26 is ineligible to participate in the markets operated by the BSO or that 27 an operational facility demonstrates that its actual electricity 28 production in the prior year was less than 15% of its total generating 29 capacity. The date of submission of a local government entity's appli- 30 cation for assistance shall establish the order in which assistance is 31 paid to program applicants, except that in no event shall assistance be 32 paid to a local government entity until such time that an electric 33 generating facility has retired or become ineligible to participate in 34 the markets operated by the BSO. For purposes of this section, any local 35 government entity seeking assistance under the electric generation 36 facility cessation or diminished electricity production mitigation fund 37 must submit an attestation to the department of public service that a 38 facility is no longer producing electricity and is no longer participat- 39 ing in markets operated by the BSO or that an operational facility 40 demonstrates that its actual electricity production in the prior year 41 was less than 15% of its total generating capacity. After receipt of 42 such attestation, the department of public service shall confirm such 43 information with the BSO. In the case that the BSO confirms to the 44 department of public service that the facility is no longer producing 45 electricity and participating in markets operated by such BSO, it shall 46 be deemed that the electric generating facility located within the local 47 government entity has ceased operation. The department of public service 48 shall provide such confirmation to the urban development corporation 49 upon receipt. The determination of the amount of such annual payment 50 shall be determined by the president of the urban development corpo- 51 ration based on the amount of the differential between the annual real 52 property taxes and payments in lieu of taxes imposed upon the facility, 53 exclusive of interest and penalties, during the [last] most recent year 54 of operations and the current real property taxes and payments in lieuS. 2504 3 1 of taxes imposed upon the facility, exclusive of interest and penalties. 2 The total amount awarded from this program shall not exceed $69,000,000. 3 § 2. This act shall take effect immediately; provided, however, that 4 the amendments to section 1 of subpart H of part C of chapter 20 of the 5 laws of 2015 made by section one of this act shall not affect the repeal 6 of such subpart and shall be deemed repealed therewith.
