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Senate Bill S6051A

2015-2016 Legislative Session

Relates to allowing a mun corp or school district to receive money where a fossil fuel electric generating facility has caused a reduction in tax collections and receipts in lieu of taxes

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Archive: Last Bill Status - In Senate Committee Finance Committee

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Bill Amendments

2015-S6051 - Details

Current Committee:
Senate Finance
Law Section:
Municipalities
Laws Affected:
Amd Part C Subpart H §1, Chap 20 of 2015

2015-S6051 - Summary

Relates to allowing a municipal corporation or school district to receive moneys where a fossil fuel electric generating facility has caused a reduction in tax collections and receipts from payments in lieu of taxes.

2015-S6051 - Sponsor Memo

2015-S6051 - Bill Text download pdf 

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

                                  6051

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                           September 16, 2015
                               ___________

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

AN  ACT  to  amend part C of chapter 20 of the laws of 2015, relating to
  appropriating money for  certain  municipal  corporations  and  school
  districts,  in  relation to allowing a municipal corporation or school
  district to receive moneys where a  fossil  fuel  electric  generating
  facility  has  caused a reduction in tax collections and receipts from
  payments in lieu of taxes of at least five percent

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

  Section  1. Section 1 of subpart H of part C of chapter 20 of the laws
of 2015, relating to appropriating money for  certain  municipal  corpo-
rations and school districts, is amended to read as follows:
  Section  1.  Contingent  upon  available  funding,  and  not to exceed
$19,000,000, moneys from the  urban  development  corporation  shall  be
available  for a municipal corporation or school district, as determined
by the urban development corporation, where (i) a fossil  fuel  electric
generating  facility located within such municipal corporation or school
district has permanently ceased operations, and (ii) the closing of such
facility has caused a reduction in the tax collections and receipts from
payments in lieu of taxes of at least [20%] 5%, or any judicial determi-
nation concerning a fossil fuel electric generating facility, has caused
a reduction in the tax collections and receipts from payments in lieu of
taxes of at least [20%] 5%; provided, however, that the  urban  develop-
ment corporation shall not provide assistance to a municipal corporation
or  school district for more than five years, and shall not award in the
first year more than eighty percent of the loss of revenues from proper-
ty tax and payments in lieu of taxes due to the closure of such  facili-
ty.  The  total  amount  awarded  from  this  program  shall  not exceed
$19,000,000.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11933-01-5

2015-S6051A (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Municipalities
Laws Affected:
Amd Part C Subpart H §1, Chap 20 of 2015

2015-S6051A (ACTIVE) - Summary

Relates to allowing a municipal corporation or school district to receive moneys where a fossil fuel electric generating facility has caused a reduction in tax collections and receipts from payments in lieu of taxes.

2015-S6051A (ACTIVE) - Sponsor Memo

2015-S6051A (ACTIVE) - Bill Text download pdf 

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

                                 6051--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                           September 16, 2015
                               ___________

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

AN ACT to amend part C of chapter 20 of the laws of  2015,  relating  to
  appropriating  money  for  certain  municipal  corporations and school
  districts, in relation to allowing a municipal corporation  or  school
  district  to  receive  moneys  where a fossil fuel electric generating
  facility has caused a reduction in tax collections and  receipts  from
  payments in lieu of taxes

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

  Section 1. Section 1 of subpart H of part C of chapter 20 of the  laws
of  2015,  relating  to appropriating money for certain municipal corpo-
rations and school districts, is amended to read as follows:
  Section 1. Contingent  upon  available  funding,  and  not  to  exceed
$19,000,000,  moneys  from  the  urban  development corporation shall be
available for a municipal corporation or school district, as  determined
by  the  urban development corporation, where (i) a fossil fuel electric
generating facility located within such municipal corporation or  school
district has permanently ceased operations, and (ii) the closing of such
facility has caused a reduction in the tax collections and receipts from
payments  in  lieu  of taxes [of at least 20%,] or any judicial determi-
nation concerning a fossil fuel electric generating facility, has caused
a reduction in the tax collections and receipts from payments in lieu of
taxes [of at least 20%]; provided, however, that the  urban  development
corporation  shall  not provide assistance to a municipal corporation or
school district for more than five years, and shall  not  award  in  the
first year more than eighty percent of the loss of revenues from proper-
ty  tax and payments in lieu of taxes due to the closure of such facili-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11933-02-5

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