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This entry was published on 2014-09-22
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SECTION 55.17
Payments in lieu of taxes
Arts and Cultural Affairs (ACA) CHAPTER 11-C, TITLE T, ARTICLE 55
§ 55.17. Payments in lieu of taxes. The trust may, when funds are
available and with the approval of the governor, enter into an agreement
with a municipality or district within which real property has been
acquired by the trust providing for the payment of moneys in lieu of
anticipated tax revenues for a period not to exceed five years whenever
the trust shall determine that undue hardship justifying such financial
relief has been created by such acquisition.