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A04658 Summary:

BILL NO    A04658B

SAME AS    SAME AS S01138-B

SPONSOR    Fahy (MS)

COSPNSR    McDonald

MLTSPNSR   

Amd S19-a, Pub Lds L

Authorizes payment of additional state aid for certain state-leased or
state-owned lands.
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A04658 Memo:

BILL NUMBER:A4658B

TITLE  OF BILL:   An act to amend the public lands law, in relation to
certain state-leased or state-owned lands

PURPOSE OR GENERAL IDEA OF BILL:

Authorizes payment of additional state aid for certain state-leased or
state-owned lands

SUMMARY OF SPECIFIC PROVISIONS:

Section 1 - amends section 19-a of the public lands law  by  adding  a
new subdivision 2-b Section 2 is the effective date

JUSTIFICATION:

This  legislation  which  was  requested  by  the City of Albany would
provide for payment in lieu of taxes (PILOT). Currently, nearly 60% of
the City is tax-exempt, largely as a result of State  ownership.  This
legislation  proposes a PILOT payment of 1.75% of the present value of
the Harriman Campus, an  amount  that  would  be  approximately  $11.7
million  annually.  The  bill  provides that this amount would be paid
annually for ten years and  would  decrease  sooner  if  the  Harriman
Campus is privatized.

PRIOR LEGISLATIVE HISTORY:

2012: A.10022/S.7201

FISCAL IMPLICATIONS:

To be determined

EFFECTIVE DATE:

This act shall take effect immediately
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