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A02031 Summary:

BILL NO    A02031 

SAME AS S00453

SPONSOR    Schimel

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

MLTSPNSR   McDonough

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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