senate Bill S7557

2013-2014 Legislative Session

Provides that prior to the approval of any application for a payment in lieu of taxes by an industrial development agency, the agreement shall obtain approval of all affected tax jurisdictions

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Archive: Last Bill Status - In Senate Committee


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

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 15, 2014 referred to local government

S7557 - Details

Current Committee:
Law Section:
General Municipal Law
Laws Affected:
Amd ยง858, Gen Muni L

S7557 - Summary

Provides that prior to the approval of any application for a payment in lieu of taxes by an industrial development agency, the agreement shall obtain approval, by three-fifths majority, of all affected tax jurisdictions.

S7557 - Sponsor Memo

S7557 - Bill Text download pdf

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

                                  7557

                            I N  S E N A T E

                              May 15, 2014
                               ___________

Introduced  by  Sen. MARTINS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to amend the general municipal law,  in  relation  to  agreements
  requiring  payments in lieu of taxes entered into by industrial devel-
  opment agencies

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

  Section 1. Subdivision 15 of section 858 of the general municipal law,
as  added  by  chapter  356  of  the laws of 1993, is amended to read as
follows:
  (15) To enter into agreements requiring payments  in  lieu  of  taxes.
Such agreements shall be in writing and in addition to other terms shall
contain: the amount due annually to each affected tax jurisdiction (or a
formula by which the amount due can be calculated), the name and address
of the person, office or agency to which payment shall be delivered, the
date on which payment shall be made, and the date on which payment shall
be  considered  delinquent  if  not paid. Unless otherwise agreed by the
affected tax  jurisdictions,  any  such  agreement  shall  provide  that
payments  in  lieu of taxes shall be allocated among affected tax juris-
dictions in proportion to the amount of  real  property  tax  and  other
taxes  which  would have been received by each affected tax jurisdiction
had the project not been tax exempt due to  the  status  of  the  agency
involved in the project. A copy of any such agreement shall be delivered
to  each  affected  tax  jurisdiction within fifteen days of signing the
agreement. In the absence of any such  written  agreement,  payments  in
lieu  of  taxes  made  by  an  agency  shall  be  allocated  in the same
proportions as they had been prior to January  first,  nineteen  hundred
ninety-three  for  so  long  as the agency's activities render a project
non-taxable by affected tax jurisdictions. PRIOR TO THE APPROVAL OF  ANY
APPLICATION  FOR  AN AGREEMENT FOR PAYMENTS IN LIEU OF TAXES, THE AGREE-
MENT SHALL OBTAIN THE APPROVAL OF ALL AFFECTED TAX JURISDICTIONS;
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15080-02-4

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