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A01866 Summary:

BILL NO    A01866 

SAME AS    SAME AS S01488

SPONSOR    Schimel (MS)

COSPNSR    Lavine, Jaffee, Abinanti, Miller, Montesano, Cook, Ra

MLTSPNSR   

Add Art 3-A S370, RPT L

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%.
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