Bill Text: NY S04172 | 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 - Dead) 2020-01-08 - REFERRED TO ENERGY AND TELECOMMUNICATIONS [S04172 Detail]
Download: New_York-2019-S04172-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 4172 2019-2020 Regular Sessions IN SENATE March 4, 2019 ___________ Introduced by Sen. MARTINEZ -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Telecommuni- cations 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