|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 11, 2012||referred to real property taxation|
delivered to assembly
|Jun 05, 2012||advanced to third reading|
|Jun 04, 2012||2nd report cal.|
|May 31, 2012||1st report cal.981|
|Mar 28, 2012||referred to education|
senate Bill S6835
Archive: Last Bill Status -
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6835 - Details
- See Assembly Version of this Bill:
- Law Section:
- Real Property Taxation
S6835 - Summary
Establishes an energy system tax stabilization reserve fund in the Lowville Central School District to lessen or prevent increases in the school district's real property tax levy resulting from decreases in revenue due to changes in the amount of or termination of payments in lieu of taxes receivable.
S6835 - Sponsor Memo
BILL NUMBER:S6835 TITLE OF BILL: An act to establish an energy system tax stabilization reserve fund in the Lowville Central School District to lessen or prevent increases in the school district's real property tax levy PURPOSE: To allow the Lowville Central School District to establish a real property tax stabilization fund out of part of the proceeds of a payment in lieu of taxes (PILOT) agreement from the Maple Ridge Wind Farm. Upon termination or decrease of the PILOT payments, transfers from the fund would ease a transition in the tax levy so that taxpayers do not have to bear a sudden spike in real property taxes. SUMMARY OF PROVISIONS: §1. The legislative findings section recognizes that the school district's current receipt of significant PILOT payments from the wind farm will at some point either terminate, or significantly decrease, which could result in a massive destabilization of the district's tax base and the amount of its tax levy to meet current budget levels. §2. This section makes definitions of important terms in the bill, including providing that PILOT payments may mean either PILOTS under
S6835 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6835 I N S E N A T E March 28, 2012 ___________ Introduced by Sen. GRIFFO -- read twice and ordered printed, and when printed to be committed to the Committee on Education AN ACT to establish an energy system tax stabilization reserve fund in the Lowville Central School District to lessen or prevent increases in the school district's real property tax levy THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings. The legislature hereby finds that the private development and ownership of wind energy systems located within the Lowville Central School District may result in instability in the real property tax base and the budgets of the district due to the uncer- tainty with the assessments of such wind energy systems at the time the payments in lieu of taxes terminate. S 2. Definitions. As used in this act: (a) "Board of education" or "board" means the board of education of the Lowville Central School District. (b) "Energy system tax stabilization reserve fund" or "fund" means the energy system tax stabilization reserve fund established pursuant to this act. (c) "Payments in lieu of taxes" or "payments" means payments in lieu of taxes receivable by the school district pursuant to contracts entered into in accordance with section 487 of the real property tax law or subdivision 15 of section 858 of the general municipal law on any wind energy system located wholly or partially within the Lowville Central School District. (d) "School district" or "district" means the Lowville Central School District. (e) "Wind energy systems" shall be defined as in section 487 of the real property tax law and shall include the land upon which the system is located, any equipment used in such generation, and equipment leading from the system to the interconnection with the transmission system. S 3. The board of education, without voter approval, is hereby author- ized to establish an energy system tax stabilization reserve fund to lessen or prevent increases in the school district's real property tax EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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