senate Bill S2502

Provides for state reimbursement for lost tax revenue due to devaluation of land as a result of toxic contamination

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 24 / Jan / 2011
    • REFERRED TO FINANCE
  • 04 / Jan / 2012
    • REFERRED TO FINANCE
  • 25 / Apr / 2012
    • 1ST REPORT CAL.578
  • 26 / Apr / 2012
    • 2ND REPORT CAL.
  • 30 / Apr / 2012
    • ADVANCED TO THIRD READING
  • 02 / May / 2012
    • PASSED SENATE
  • 02 / May / 2012
    • DELIVERED TO ASSEMBLY
  • 02 / May / 2012
    • REFERRED TO WAYS AND MEANS

Summary

Provides for state reimbursement for lost tax revenue due to devaluation of land as a result of toxic contamination.

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Bill Details

See Assembly Version of this Bill:
A5504
Versions:
S2502
Legislative Cycle:
2011-2012
Current Committee:
Law Section:
State Finance Law
Laws Affected:
Add ยง54-m, St Fin L
Versions Introduced in 2009-2010 Legislative Cycle:
S4210, A9137

Sponsor Memo

BILL NUMBER:S2502

TITLE OF BILL:
An act
to amend the state finance law, in relation to providing state
reimbursement for lost tax revenue due to devaluation of land subject to
toxic contamination

PURPOSE:
This legislation will provide reimbursement to
municipalities who have lost tax revenue due to court ordered and
marketplace impacts of contamination from the state hazardous waste
site known as the Dewey Loeffel Landfill.

PROVISIONS:

Section 1: The state finance law is amended by adding a new section
54-m which defines municipality. This section also defines lost tax
revenue and provides the terms under which reimbursement is provided.

JUSTIFICATION:

The Dewey Loeffel State Hazardous Waste Site is located in southern
Rensselaer County and contains more than twice the contamination of
the infamous Love Canal waste site. It is estimated that more than
46,000 tons of toxic waste are buried in a failed capped landfill.

Remediation of this site has been ongoing for decades with no progress
made in preventing the contamination from seeping from the site and
contaminating additional properties. This contamination has
significantly impacted property values as well as the assessed values
of properties in the area. Courts have continuously lowered tax
assessments due to the contamination on adjacent and area properties.
The result is a significant financial hardship for the communities
impacted by this ongoing toxic contamination.

The financial impact of this state hazardous waste site will continue
for some time as the Department of Environmental Conservation has
indicated that decades of remediation are in store for the site.

PRIOR LEGISLATIVE HISTORY:
New bill.

FISCAL IMPACT:
Approximately $80,000 annually in
municipal
reimbursement.

EFFECTIVE DATE:
This act shall take effect on the
first day of April
next succeeding the date on which it shall become a law.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2502

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 24, 2011
                               ___________

Introduced  by Sen. McDONALD -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to amend the state finance law, in relation  to  providing  state
  reimbursement  for lost tax revenue due to devaluation of land subject
  to toxic contamination

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  state finance law is amended by adding a new section
54-m to read as follows:
  S 54-M. REIMBURSEMENT FOR LOST TAX REVENUE DUE TO TOXIC CONTAMINATION.
1. AS USED IN THIS SECTION, "MUNICIPALITY" SHALL MEAN ANY CITY, VILLAGE,
TOWN OR FIRE DISTRICT LOCATED IN THE COUNTY OF RENSSELAER.
  2. ANY MUNICIPALITY SUBJECT TO CONTAMINATION EITHER DIRECTLY OR  INDI-
RECTLY  FROM  THE  STATE HAZARDOUS WASTE SITE KNOWN AS THE DEWEY LOEFFEL
LANDFILL, THAT HAS REDUCED ITS TAX LEVY ON PROPERTIES AFFECTED  BY  SUCH
HAZARDOUS  WASTE  SITE, SHALL BE ELIGIBLE FOR REIMBURSEMENT OF SUCH LOST
TAX REVENUE BY THE STATE. FOR PURPOSES OF THIS SECTION, "LOST TAX REVEN-
UE" SHALL MEAN THE DIFFERENCE BETWEEN THE ACTUAL VALUATION OF SUCH  REAL
PROPERTY  AND  THE REDUCED ASSESSED VALUE DUE TO CONTAMINATION AS CERTI-
FIED BY THE CHIEF FISCAL OFFICER OF THE MUNICIPALITY IN WHICH SUCH PROP-
ERTIES ARE LOCATED.
  3. SUCH REIMBURSEMENT SHALL  BE  MADE  ANNUALLY  TO  THE  MUNICIPALITY
FOLLOWING APPLICATION BY THE CHIEF FISCAL OFFICER OF THE MUNICIPALITY TO
THE COMPTROLLER IN A MANNER APPROVED AND PRESCRIBED BY THE COMPTROLLER.
  4.  SUCH SYSTEM OF REIMBURSEMENT SHALL CONTINUE UNTIL SUCH TIME AS THE
DEWEY LOEFFEL LANDFILL HAS BEEN REMOVED  FROM  THE  INVENTORY  OF  STATE
HAZARDOUS WASTE SITES.
  S  2. This act shall take effect on the first of April next succeeding
the date on which it shall have become a law.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01432-01-1

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