assembly Bill A2585

2019-2020 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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Current 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

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to ways and means
Jan 24, 2019 referred to ways and means

Co-Sponsors

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A2585 (ACTIVE) - Details

Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd Part C Subpart H §1, Chap 20 of 2015
Versions Introduced in 2017-2018 Legislative Session:
A10496

A2585 (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.

A2585 (ACTIVE) - Bill Text download pdf


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

                                  2585

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                            January 24, 2019
                               ___________

Introduced by M. of A. LAVINE, ENGLEBRIGHT, D'URSO, RAIA, MONTESANO, RA,
  M. L. MILLER  --  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, 2019, 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

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