Senate Bill S2504

2019-2020 Legislative Session

Relates to funding to local government entities from the urban development corporation

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2019-S2504 (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Urban Renewal
Laws Affected:
Amd Part C subpart H §1, Chap 20 of 2015
Versions Introduced in Other Legislative Sessions:
2017-2018: S6533
2021-2022: S2276

2019-S2504 (ACTIVE) - Summary

Relates to funding to local government entities from the urban development corporation when an operational facility demonstrates that its electricity generation was less than 15% of its total generating capacity.

2019-S2504 (ACTIVE) - Sponsor Memo

2019-S2504 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2504
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 25, 2019
                                ___________
 
 Introduced  by  Sen. HELMING -- read twice and ordered printed, and when
   printed to be committed to the Committee on Finance
 
 AN ACT to amend subpart H of part C of chapter 20 of the laws  of  2015,
   appropriating  money  for  certain  municipal  corporations and school
   districts, in relation to funding to local  government  entities  from
   the urban development corporation
 
   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,  appropriating  money  for  certain municipal corporations 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: (A) (i) on or after June 25, 2015, an electric
 generating facility located within  such  local  government  entity  has
 ceased  operations,  [and]  OR  (ii) THAT AN OPERATIONAL FACILITY DEMON-
 STRATES THAT ITS ACTUAL ELECTRICITY PRODUCTION IN  THE  PRIOR  YEAR  WAS
 LESS  THAN  15% OF ITS TOTAL GENERATING CAPACITY; AND (B) the closing OR
 DIMINISHED ELECTRICITY PRODUCTION of such facility PURSUANT TO  SUBDIVI-
 SION (A) OF THIS SECTION 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 facility. Such moneys attributable to the
 cessation of operations OR DIMINISHED ELECTRICITY PRODUCTION,  shall  be
 paid  annually on a first come, first served basis by the urban develop-
 ment corporation to such local government  entity  within  a  reasonable
 time  upon  confirmation  from  the  state  office  of real property tax
 services or  the  local  industrial  development  authority  established
 pursuant  to  titles  eleven  and fifteen of article eight of the public
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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