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A04658 Summary:

BILL NOA04658B
 
SAME ASSAME AS S01138-B
 
SPONSORFahy (MS)
 
COSPNSRMcDonald
 
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:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A4658B
 
SPONSOR: Fahy (MS)
  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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