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Assembly Bill A6457

2019-2020 Legislative Session

Relates to the Long Island Power Authority and certain payments in lieu of taxes

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Archive: Last Bill Status - In Assembly Committee

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2019-A6457 (ACTIVE) - Details

See Senate Version of this Bill:
S4172
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §1020-q, Pub Auth L

2019-A6457 (ACTIVE) - Summary

Provides that payments in lieu of taxes subject to the two percent limit shall be calculated based upon the real property acquired by the authority in the aggregate in each municipality or school district and not on parcel by parcel basis.

2019-A6457 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6457
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 7, 2019
                                ___________
 
 Introduced by M. of A. THIELE -- read once and referred to the Committee
   on Corporations, Authorities and Commissions
 
 AN  ACT  to  amend  the  public  authorities law, in relation to certain
   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.  Subdivision 1 of section 1020-q of the public authorities
 law, as amended by section 8 of part A of chapter 173  of  the  laws  of
 2013, is amended to read as follows:
   1.  Each year after property theretofore owned by LILCO is acquired by
 the authority by any means authorized by this title  and,  as  a  conse-
 quence, is removed from the tax rolls, the authority shall make payments
 in  lieu  of  taxes  to municipalities and school districts equal to the
 taxes and assessments which would have been received from year  to  year
 by  each  such  jurisdiction  if  such  acquisition  had  not  occurred,
 provided, however, that for the calendar year starting on January first,
 two thousand fifteen,  and  for  each  calendar  year  thereafter,  such
 payments  in  lieu of taxes shall not exceed the in lieu of tax payments
 made to such municipalities and  school  districts  in  the  immediately
 preceding  year  by more than two percent. THE PAYMENTS IN LIEU OF TAXES
 SUBJECT TO THE TWO PERCENT LIMIT SET FORTH IN THIS SUBDIVISION SHALL  BE
 CALCULATED BASED UPON THE REAL PROPERTY ACQUIRED BY THE AUTHORITY IN THE
 AGGREGATE IN EACH MUNICIPALITY OR SCHOOL DISTRICT AND NOT ON A PARCEL BY
 PARCEL BASIS.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10077-02-9

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