senate Bill S7050A

Relates to the town of Eagle, county of Wyoming wind project

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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

  • 21 / Apr / 2014
    • REFERRED TO LOCAL GOVERNMENT
  • 03 / Jun / 2014
    • AMEND AND RECOMMIT TO LOCAL GOVERNMENT
  • 03 / Jun / 2014
    • PRINT NUMBER 7050A
  • 10 / Jun / 2014
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 10 / Jun / 2014
    • ORDERED TO THIRD READING CAL.1266
  • 11 / Jun / 2014
    • HOME RULE REQUEST
  • 11 / Jun / 2014
    • PASSED SENATE
  • 11 / Jun / 2014
    • DELIVERED TO ASSEMBLY
  • 11 / Jun / 2014
    • REFERRED TO LOCAL GOVERNMENTS

Summary

Relates to the town of Eagle, county of Wyoming wind project.

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Bill Details

See Assembly Version of this Bill:
A9505A
Versions:
S7050
S7050A
Legislative Cycle:
2013-2014
Current Committee:
Law Section:
Wyoming County

Sponsor Memo

BILL NUMBER:S7050A

TITLE OF BILL: An act in relation to the town of Eagle, county of
Wyoming wind project

PURPOSE: This bill exempts the town of Eagle, county of Wyoming, from
certain provisions of section 6-e of the general municipal law for a
limited period of time to allow the town to minimize the property tax
burden when its wind project PILOT ends.

SUMMARY OF PROVISIONS:

Section 1 states the legislative findings and intent.

Section 2 states that to the extent the town of Eagle exceeded their
maximum appropriation for payment into the contingency and tax
stabilization reserve fund, such amounts are legalized, validated, and
ratified.

Section 3 authorizes the town of Eagle to appropriate an amount up to
fifteen percent of the eligible portion of the annual budget for the
fiscal year for which the appropriation is made into the contingency
and tax stabilization reserve fund.

Section 4 authorizes the town of Eagle to utilize an amount up to
fifty percent of any fiscal year's annual budget from the contingency
and tax stabilization reserve fund to lessen or prevent any projected
real property tax increase needed to finance the eligible portion of
the annual budget for the next succeeding fiscal year. This amount may
be expended from such fund until the fund is wholly depleted or ten
years after the effective date of this act, whichever occurs first.

Section 5 states that this act shall take effect immediately provided
that once PILOT payments are no longer received pursuant to the town
of Eagle wind project PILOT, the authority of the town under section 3
of this act shall terminate; and provided further that section 4 of
this act shall take effect upon the final PILOT payment received by
the town of Eagle under its wind project PILOT.

JUSTIFICATION: During the 2013-2014 fiscal year, the town of Eagle
created a contingency and tax stabilization reserve fund pursuant to
section 6-e of the general municipal law with the purpose of
offsetting property taxes in the future once the town of Eagle wind
project PILOT ends.

Currently, the town of Eagle receives $1 million of the total revenues
associated with the wind project PILOT per year. Most of this money is
used to completely cover all of the town's taxes. The town wants to
put the remaining revenues into its contingency and tax stabilization
reserve fund to offset property taxes once the wind project PILOT
ends. Under current law, the town may only appropriate an amount up to
ten percent of the eligible portion of the annual budget for the
fiscal year for which the appropriation is made into the fund; this
bill raises the appropriation amount to up to fifteen percent per
year. Once PILOT payments are no longer received pursuant to the town
of Eagle wind project PILOT, the town's authority to appropriate this
amount will terminate.


The town of Eagle plans to use the money from its contingency and tax
stabilization reserve fund to offset property taxes once the wind
project PILOT ends. Under current law, the town is limited to how much
money it may utilize from this fund each year to lessen or prevent any
projected increase in property taxes. This bill authorizes the town of
Eagle to utilize an amount up to fifty percent of any fiscal year's
annual budget from the contingency and tax stabilization reserve fund
to lessen or prevent any projected real property tax increase needed
to finance the eligible portion of the annual budget for the next
succeeding fiscal year. The town may expend this amount from such fund
until it is wholly depleted or ten years after the effective date of
this act, whichever occurs first.

This legislation is necessary to ameliorate the serious financial
burden on the town of Eagle's property taxpayers that will result when
the wind project PILOT ends. Since the revenues from the wind project
PILOT currently cover all of the town's taxes, the end of the project
will result in a sudden increase in property taxes that would be
unmanageable for the town of Eagle's taxpayers. While the provisions
under section 6-e of the general municipal law exist to ensure
financial stability for municipalities, it is necessary to exempt the
town of Eagle from certain provisions under this law for a limited
period of time to allow the town to phase in the new property tax
burden after its wind project PILOT ends.

LEGISLATIVE HISTORY: New bill.

FISCAL IMPLICATIONS: None to the state.

EFFECTIVE DATE: Immediately.

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

                                 7050--A

                            I N  S E N A T E

                             April 21, 2014
                               ___________

Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
  printed to be committed  to  the  Committee  on  Local  Government  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT in relation to the town of Eagle, county of Wyoming wind project

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

  Section  1.  Legislative  findings  and intent. The legislature hereby
finds that when the town of Eagle  wind  project  PILOT  ends,  it  will
create  a sudden gap in the town's tax revenues. As the current revenues
from this project completely cover all of the town's taxes, the  end  of
this  project will create a serious financial burden on the town's prop-
erty taxpayers. To ameliorate this  burden,  the  legislature  finds  it
necessary to exempt the town of Eagle from certain provisions of section
6-e  of  the general municipal law for a limited period of time to allow
the town to phase in the new property tax burden.
  S 2. 1. It is hereby found and determined  that  the  town  of  Eagle,
county  of  Wyoming, exceeded its maximum appropriation for payment into
the contingency and tax stabilization reserve fund pursuant to  subdivi-
sion  3 of section 6-e of the general municipal law where the balance of
the fund exceeded ten percent of the  eligible  portion  of  the  annual
budget for fiscal year 2013-2014.
  2. Notwithstanding the defects described in subdivision one of section
two  of  this  act,  to the extent that the town of Eagle exceeded their
maximum appropriation, such amounts are hereby legalized, validated, and
ratified.
  S 3. Notwithstanding subdivision 3 and paragraph e of subdivision 4 of
section 6-e of the general municipal law, the town of  Eagle  is  hereby
authorized  to appropriate an amount up to fifteen percent of the eligi-
ble portion of the annual budget for  the  fiscal  year  for  which  the
appropriation  would  be made into the contingency and tax stabilization
reserve fund.
  S 4. Notwithstanding paragraph d of subdivision 4 of  section  6-e  of
the  general  municipal  law,  the town of Eagle is hereby authorized to

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14737-02-4

S. 7050--A                          2

utilize an amount up to fifty percent of any fiscal year's annual budget
from the contingency and tax stabilization reserve  fund  to  lessen  or
prevent  any  projected real property tax increase needed to finance the
eligible  portion  of  the  annual budget for the next succeeding fiscal
year. This amount may be expended from such  fund  until  such  fund  is
wholly  depleted  or  ten  years  after  the effective date of this act,
whichever occurs first.
  S 5. This act shall take effect immediately provided that  once  PILOT
payments  are  no  longer  received  pursuant  to the town of Eagle wind
project PILOT, the authority of the town of Eagle under section three of
this act shall terminate; and, provided, further that  section  four  of
this  act shall take effect upon the final PILOT payment received by the
town of Eagle under the town of Eagle wind project PILOT.

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