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A10784 Summary:

BILL NOA10784
 
SAME ASNo Same As
 
SPONSORAshby
 
COSPNSR
 
MLTSPNSR
 
Add 54-n, St Fin L
 
Provides for state reimbursement for lost tax revenue due to devaluation of land as a result of toxic contamination.
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A10784 Actions:

BILL NOA10784
 
05/18/2018referred to ways and means
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A10784 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A10784
 
SPONSOR: Ashby
  TITLE OF BILL: An act to amend the state finance law, in relation to providing state reimbursement for lost tax revenue due to devaluation of land subject to toxic contamination   PURPOSE: This legislation will provide reimbursement to municipalities who have lost tax revenue due to court ordered and marketplace impacts of contam- ination from the state hazardous waste site known as the Dewey Loeffel Landfill.   PROVISIONS: Section 1. The state finance law is amended by adding a new section 54-n which defines municipality. This section also defines lost tax revenue and provides the terms under which reimbursement is provided. Section 2: Effective date   JUSTIFICATION: The Dewey Loeffel State hazardous Waste Site is located in southern Rensselaer County and contains more than twice the contamination of infamous Love Canal waste site. It is estimated that more than 46,000 tons of toxic waste are buried in a failed capped landfill. Remediation of this site has been ongoing for decades with no progress made in preventing the contamination from seeping from eth site and contaminating additional properties. This contamination has significant- ly impacted property values as well as the assessed values of properties in the area. Courts have continuously lowered tax assessments due to the contamination on adjacent and area properties. The result is a signif- icant financial hardship for communities impacted by this ongoing toxic contamination. The financial impact of this state hazardous waste site will continue for some time as the Department of Environmental Conservation has indi- cated that decades of remediation are in store for the site.   PRIOR LEGISLATIVE HISTORY: A. 9137 - 2010 A. 504 - 2012 A. 1837 - 2018   FISCAL IMPACT FOR STATE AND LOCAL GOVERNMENTS: Approximately $80,000.00 annually in municipal reimbursement.   EFFECTIVE DATE: This act shall take effect on the first day of April next succeeding the date on which it shall become law.
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A10784 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          10784
 
                   IN ASSEMBLY
 
                                      May 18, 2018
                                       ___________
 
        Introduced  by M. of A. ASHBY -- read once and referred to the Committee
          on Ways and Means
 
        AN ACT to amend the state finance law, in relation  to  providing  state
          reimbursement  for lost tax revenue due to devaluation of land subject
          to toxic contamination
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  The  state finance law is amended by adding a new section
     2  54-n to read as follows:
     3    § 54-n. Reimbursement for lost tax revenue due to toxic contamination.
     4  1. As used in this section, "municipality" shall mean any city, village,
     5  town or fire district located in the county of Rensselaer.
     6    2. Any municipality subject to contamination either directly or  indi-
     7  rectly  from  the  state hazardous waste site known as the Dewey Loeffel
     8  Landfill, that has reduced its tax levy on properties affected  by  such
     9  hazardous  waste  site, shall be eligible for reimbursement of such lost
    10  tax revenue by the state. For purposes of this section, "lost tax reven-
    11  ue" shall mean the difference between the actual valuation of such  real
    12  property  and  the reduced assessed value due to contamination as certi-
    13  fied by the chief fiscal officer of the municipality in which such prop-
    14  erties are located.
    15    3. Such reimbursement shall  be  made  annually  to  the  municipality
    16  following application by the chief fiscal officer of the municipality to
    17  the comptroller in a manner approved and prescribed by the comptroller.
    18    4.  Such system of reimbursement shall continue until such time as the
    19  Dewey Loeffel Landfill has been removed  from  the  inventory  of  state
    20  hazardous waste sites.
    21    §  2. This act shall take effect on the first of April next succeeding
    22  the date on which it shall have become a law.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15469-01-8
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