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A02031 Summary:

BILL NOA02031
 
SAME ASSAME AS S00453
 
SPONSORSchimel
 
COSPNSRLavine, Jaffee, Abinanti, Montesano, Cook, Ra, Raia, Miller
 
MLTSPNSRMcDonough
 
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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