Senate Bill S7084

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

                                  7084

                            I N  S E N A T E

                             March 23, 2016
                               ___________

Introduced  by Sens. RANZENHOFER, YOUNG -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Finance

AN ACT to amend chapter 20 of the laws of 2015 appropriating  money  for
  certain  municipal  corporations  and school districts, in relation to
  increasing the amount of monies appropriated therefor to local govern-
  ment entities

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

  Section  1.  Subpart  H  of  part  C of chapter 20 of the laws of 2015
appropriating  money  for  certain  municipal  corporations  and  school
districts is amended to read as follows:

                                SUBPART H

  Section  1.    LEGISLATIVE  FINDINGS.  A  RESULT  OF  THE  CLOSURE  OF
COAL-FIRED ELECTRIC GENERATING POWER PLANTS IS THE SIGNIFICANT REDUCTION
IN THE TAX BASE OF HOST COMMUNITIES.  IT IS THE DESIRE  AND  PURPOSE  OF
THIS  ACT TO MITIGATE THE IMPACT OF THE LOSS OF LOCAL TAX BASE.  ACCORD-
INGLY, THE LEGISLATURE THEREBY RECOGNIZES THE  NECESSITY  OF  ALLOCATING
ADDITIONAL  MONEYS  UNDER  THIS SUBPART, THE FOSSIL FUEL ELECTRIC GENER-
ATION FACILITY CESSATION MITIGATION FUND, IN ORDER  TO  ASSIST  AFFECTED
COMMUNITIES.
  S   2.   Contingent   upon   available  funding,  and  not  to  exceed
[$19,000,000] $50,000,000, moneys from the urban development corporation
shall be available for a  [municipal  corporation  or  school  district]
LOCAL  GOVERNMENT  ENTITY,  WHICH FOR THE PURPOSES OF THIS SECTION SHALL
MEAN A COUNTY, CITY, TOWN, VILLAGE, SCHOOL DISTRICT OR SPECIAL DISTRICT,
[as determined by the urban development corporation,] where (i) a fossil
fuel electric generating facility located within such [municipal  corpo-
ration  or  school  district]  LOCAL GOVERNMENT ENTITY has [permanently]
ceased operations, and (ii) the closing of such facility  has  caused  a
reduction  in  the  REAL PROPERTY tax collections [and receipts from] OF
TAXES OR payments in lieu of taxes [of at least  20%,  or  any  judicial
determination concerning a fossil fuel electric generating facility, has

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

                                                           LBD14776-02-6

S. 7084                             2

caused  a reduction in the tax collections and receipts from payments in
lieu of taxes of at least 20%; provided, however, that the urban  devel-
opment  corporation  shall  not provide assistance to a municipal corpo-
ration  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
property  tax  and  payments in lieu of taxes due to the closure of such
facility] IMPOSED UPON SUCH FOSSIL FUEL  ELECTRIC  GENERATING  FACILITY.
SUCH  MONEYS  ATTRIBUTABLE TO THE CESSATION OF OPERATIONS, SHALL BE PAID
ANNUALLY BY THE URBAN DEVELOPMENT CORPORATION TO SUCH  LOCAL  GOVERNMENT
ENTITY  WITHIN  THIRTY DAYS OF THE DATE UPON WHICH THE TAXES, OR PAYMENT
IN LIEU OF TAXES, WHICH WOULD HAVE BEEN IMPOSED UPON  SUCH  FACILITY  IF
NOT  FOR  THE CESSATION OF OPERATIONS, WOULD HAVE BEEN DUE. FOR PURPOSES
OF THIS SECTION, ANY LOCAL GOVERNMENT ENTITY  SEEKING  ASSISTANCE  UNDER
THE  FOSSIL  FUEL ELECTRIC GENERATION FACILITY CESSATION MITIGATION FUND
MUST SUBMIT AN ATTESTATION TO  THE  PUBLIC  SERVICE  COMMISSION  THAT  A
FACILITY IS NO LONGER PRODUCING ELECTRICITY AND IS NO LONGER PARTICIPAT-
ING IN MARKETS OPERATED BY THE BULK SYSTEM OPERATOR SERVING THE STATE OF
NEW  YORK  (BSO).  AFTER RECEIPT OF SUCH ATTESTATION, THE PUBLIC SERVICE
COMMISSION SHALL CONFIRM SUCH INFORMATION WITH THE BSO. IN THE CASE THAT
THE BSO CONFIRMS TO THE  COMMISSION  THAT  THE  FACILITY  IS  NO  LONGER
PRODUCING ELECTRICITY AND PARTICIPATING IN MARKETS OPERATED BY SUCH BSO,
IT  SHALL  BE  DEEMED  THAT THE FOSSIL FUEL ELECTRIC GENERATING FACILITY
LOCATED WITHIN THE LOCAL GOVERNMENT ENTITY  HAS  CEASED  OPERATION.  THE
AMOUNT OF SUCH ANNUAL PAYMENT SHALL BE IN THE AMOUNT OF THE DIFFERENTIAL
BETWEEN  THE AVERAGE ANNUAL PROPERTY TAXES AND PAYMENTS IN LIEU OF TAXES
IMPOSED UPON THE FACILITY, EXCLUSIVE OF INTEREST AND PENALTIES, OVER THE
PRIOR TEN YEARS AND THE CURRENT PROPERTY TAXES AND PAYMENTS IN  LIEU  OF
TAXES  IMPOSED  UPON  THE FACILITY, EXCLUSIVE OF INTEREST AND PENALTIES.
The  total  amount  awarded  from  this   program   shall   not   exceed
[$19,000,000] $50,000,000.
  S  [2]  3.  Notwithstanding  any  provision of law to the contrary, as
deemed feasible and advisable by its trustees, the New York state energy
research and development authority is authorized and directed  to  [(i)]
make  a  contribution to the Urban Development Corporation, or as other-
wise directed in writing by the director of the budget, in an amount not
to exceed [$19,000,000] $50,000,000 for the state fiscal year commencing
April 1, 2016.
  S [3] 4. Notwithstanding any provision of  law  to  the  contrary,  as
deemed  feasible  and  advisable by its trustees, the power authority of
the state of New York is authorized and directed to make a  contribution
to the state treasury to the credit of the general fund, or as otherwise
directed in writing by the director of the budget, in an amount of up to
$6,000,000  for  the  state  fiscal  year commencing April 1, 2015. Such
contribution shall be  in  addition  to  other  contributions  otherwise
enacted in law.
  S  [4]  5. This act shall take effect immediately and shall expire and
be deemed repealed by July 1, 2025.
  S 2. This act shall take effect immediately, provided that the  amend-
ments  to subpart H of part C of chapter 20 of the laws of 2015, made by
section one of this act, shall not affect the expiration and  repeal  of
such subpart, and shall expire and be deemed repealed therewith.