assembly Bill A10496

2017-2018 Legislative Session

Relates to authorizing funds to municipalities from the UDC in the case of certain tax certiorari challenges or agreed upon settlements and permits tax certiorari stabilization reserve funds

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Archive: Last Bill Status - In Assembly Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 30, 2018 referred to ways and means

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A10496 (ACTIVE) - Details

See Senate Version of this Bill:
S8235
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd Part C Subpart H §1, Chap 20 of 2015
Versions Introduced in 2019-2020 Legislative Session:
A2585, S2852

A10496 (ACTIVE) - Summary

Authorizes funds to municipalities from the UDC in the case of certain tax certiorari challenges or agreed upon settlements resulting in loss of tax revenues or increased tax levies of over twenty percent or in regards to a settlement agreement, a reduction in real property taxes or a payment in lieu of taxes of at least twenty percent in the aggregate over the term of such settlement agreement; and permits the establishment of tax certiorari stabilization reserve funds.

A10496 (ACTIVE) - Bill Text download pdf


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

                                  10496

                          I N  A S S E M B L Y

                             April 30, 2018
                               ___________

Introduced by M. of A. LAVINE -- read once and referred to the Committee
  on Ways and Means

AN  ACT  to amend subpart H of part C of chapter 20 of the laws of 2015,
  relating to appropriating money for certain municipal corporations and
  school districts, in relation to authorizing  funds  in  the  case  of
  certain  tax  certiorari challenges or agreed upon settlements; and to
  permit certain boards of  education  to  establish  a  tax  certiorari
  stabilization reserve fund

  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, as amended by section 1  of  part  AAA  of
chapter 59 of the laws of 2018, is amended to read as follows:
  Section  1.  Contingent  upon  available  funding,  and  not to exceed
$69,000,000 moneys from  the  urban  development  corporation  shall  be
available  for a local government entity, which for the purposes of this
section shall mean a county, city, town,  village,  school  district  or
special  district,  where  (i)  on  or  after June 25, 2015, an electric
generating facility located within  such  local  government  entity  has
ceased  operations,  and  (ii) the closing of such facility has caused a
reduction in the real property tax collections or payments  in  lieu  of
taxes of at least twenty percent owed by such electric generating facil-
ity;  OR  WHERE,  ON OR AFTER APRIL 1, 2018, A SUCCESSFUL TAX CERTIORARI
CHALLENGE OR AN AGREED UPON SETTLEMENT TO THE ASSESSMENT OF AN  ELECTRIC
GENERATING  FACILITY  BY THE LONG ISLAND POWER AUTHORITY HAS RESULTED IN
EITHER A REDUCTION IN THE REAL PROPERTY TAX COLLECTIONS OR  PAYMENTS  IN
LIEU  OF TAXES OF AT LEAST TWENTY PERCENT, OR IN REGARDS TO A SETTLEMENT
AGREEMENT A REDUCTION IN REAL PROPERTY TAXES  OR  PAYMENTS  IN  LIEU  OF
TAXES  OF  AT LEAST TWENTY PERCENT IN THE AGGREGATE OVER THE TERM OF THE
SETTLEMENT AGREEMENT, OWED BY SUCH ELECTRIC GENERATING FACILITY  OR  HAS
RESULTED  IN A REAL PROPERTY TAX LEVY INCREASE OF OVER TWENTY PERCENT OF
A LOCAL GOVERNMENT ENTITY. Such moneys attributable to the cessation  of
operations,  A  SUCCESSFUL  TAX  CERTIORARI CHALLENGE, OR AN AGREED UPON

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets