Senate Bill S950

2021-2022 Legislative Session

Relates to reductions of payments in lieu of taxes

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Local Government 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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2021-S950 (ACTIVE) - Details

See Assembly Version of this Bill:
A6050
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add Art 3-A §370, RPT L
Versions Introduced in Other Legislative Sessions:
2011-2012: S5872, A9577
2013-2014: S1488, A1866
2015-2016: S453, A2031
2017-2018: S1260, A8621
2019-2020: S1914, A146

2021-S950 (ACTIVE) - Summary

Relates to reductions of payments in lieu of taxes; provides that where such payment agreement is to be reduced due to a reassessment of the parcel of real property such agreement is related to, such reduction shall be phased in over 10 years if the reduction would negatively affect the revenues of a local government by more than 5%.

2021-S950 (ACTIVE) - Sponsor Memo

2021-S950 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    950
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by Sen. GAUGHRAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the real property tax law, in  relation  to  payment  in
   lieu of taxes agreements

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The real property tax law is amended by adding a new  arti-
 cle 3-A to read as follows:
                                ARTICLE 3-A
                    PAYMENT IN LIEU OF TAXES AGREEMENTS
 SECTION 370. PAYMENT IN LIEU OF TAXES AGREEMENTS.
   §  370.  PAYMENT  IN  LIEU OF TAXES AGREEMENTS. 1. FOR THE PURPOSES OF
 THIS SECTION:
   (A) "LOCAL GOVERNMENT" SHALL MEAN ANY MUNICIPAL CORPORATION AS DEFINED
 PURSUANT TO SECTION TWO OF THE  GENERAL  MUNICIPAL  LAW  OR  ANY  SCHOOL
 DISTRICT OR BOARD OF COOPERATIVE EDUCATIONAL SERVICES.
   (B)  "PAYMENT  IN  LIEU OF TAXES AGREEMENT" OR "PILOT AGREEMENT" SHALL
 MEAN AN AGREEMENT ENTERED INTO BETWEEN A LOCAL  GOVERNMENT  AND  ANOTHER
 PARTY  WHEREBY  SUCH  OTHER  PARTY COMPENSATES SUCH LOCAL GOVERNMENT FOR
 SOME OR ALL OF THE TAX REVENUE LOST DUE TO THE  NATURE  OF  THE  USE  OR
 OWNERSHIP  OF  A PARCEL OF REAL PROPERTY BY SUCH OTHER PARTY. THE AMOUNT
 OF SUCH PAYMENT IN LIEU OF TAXES IS  BASED  ON  AN  ASSESSMENT  OF  SUCH
 PARCEL OF REAL PROPERTY.
   2.  IF THE AMOUNT OF ANY PAYMENT IN LIEU OF TAXES IS REDUCED, DUE TO A
 REASSESSMENT OF THE PARCEL OF REAL PROPERTY SUCH  AGREEMENT  IS  RELATED
 TO,  AND SUCH REDUCTION WOULD NEGATIVELY IMPACT THE TOTAL REVENUE OF ANY
 LOCAL GOVERNMENT BY MORE THAN FIVE PERCENT, SUCH REDUCTION  IN  PAYMENTS
 IN LIEU OF TAXES SHALL BE PHASED IN OVER A TEN YEAR PERIOD.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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