Extends from June 30, 2025 to June 30, 2027, the expiration of provisions of the town law relating to payments in lieu of taxes for property acquired for park or recreational purposes by the town of Hempstead.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A8366
SPONSOR: Brown E TITLE OF BILL:
An act to amend chapter 821 of the laws of 1970 amending the town law
relating to payment in lieu of taxes for property acquired for park or
recreational purposes by the town of Hempstead, in relation to the term
of effectiveness of such chapter
PURPOSE:
Relates to payments in lieu of taxes for property acquired for park or
recreational purposes by the town of Hempstead
SUMMARY OF SPECIFIC PROVISIONS:
Section 1. Section 3 of chapter 821 of the laws of 1970 amending the
town law relating to payment in lieu of taxes for property acquired for
park or recreational purposes by the town of Hempstead, as amended by
section 1 of item V of subpart B of part XXX of chapter 58 of the laws
of 2020, is amended to read as follows:
§ 3. This act shall take effect July 1, 1970 but shall be operative only
to and including June 30,
2025 2027.
§ 2. This act shall take effect immediately.
JUSTIFICATION:
The town of Hempstead having acquired certain property for park or
recreational purposes in the Lido Beach-Point Lookout area shall have
the power and authority with respect to such property, to pay or trans-
fer out of any town funds available to it, annual sums in lieu of taxes
to the affected taxing jurisdiction, in order that none of such taxing
jurisdiction shall suffer an inequitable loss of revenue by virtue of
such park or recreational program; provided further, that the amount so
paid or transferred for any year shall not exceed the sum last levied
for the benefit of such taxing jurisdiction as an annual tax on such
property prior to the time of its acquisition for such purpose or
purposes.
LEGISLATIVE HISTORY:
New bill.
FISCAL IMPLICATIONS:
To be determined
EFFECTIVE DATE:
This act shall take effect immediately.
