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Senate Bill S6003

2019-2020 Legislative Session

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

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Archive: Last Bill Status - In Senate Committee Energy And Telecommunications Committee

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2019-S6003 (ACTIVE) - Details

See Assembly Version of this Bill:
A7802
Current Committee:
Senate Energy And Telecommunications
Law Section:
Public Authorities Law
Laws Affected:
Amd §1020-q, Pub Auth L
Versions Introduced in 2021-2022 Legislative Session:
A7422

2019-S6003 (ACTIVE) - Summary

Provides that for the tax year starting December 1, 2020, payments in lieu of taxes shall not equal more than two percent of the increase in total tax rate for the current tax year over the total tax rate of the prior tax year, if any, based upon the assessed value as reflected on the final assessment roll of the current tax year.

2019-S6003 (ACTIVE) - Sponsor Memo

2019-S6003 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6003
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               May 16, 2019
                                ___________
 
 Introduced  by Sen. MARTINEZ -- read twice and ordered printed, and when
   printed to be committed to the Committee on  Energy  and  Telecommuni-
   cations
 
 AN  ACT  to amend the public authorities law, in relation to 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] TAX year starting  on  [Janu-
 ary] DECEMBER first, two thousand [fifteen] TWENTY, and for each [calen-
 dar]  TAX  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] EQUAL NO MORE THAN TWO PERCENT OF THE  INCREASE  IN  TOTAL  TAX
 RATE  FOR  THE CURRENT TAX YEAR OVER THE TOTAL TAX RATE OF THE PRIOR TAX
 YEAR, IF ANY, BASED UPON THE ASSESSED VALUE AS REFLECTED  ON  THE  FINAL
 ASSESSMENT ROLL OF THE CURRENT TAX YEAR.
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11579-01-9

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