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A09380 Summary:

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A09380 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          9380
 
                   IN ASSEMBLY
 
                                     April 23, 2014
                                       ___________
 
        Introduced  by  M. of A. GALEF, BARCLAY -- read once and referred to the
          Committee on Real Property Taxation
 
        AN ACT to amend the real property  tax  law,  in  relation  to  the  tax
          exemption for nuclear powered electric generating facilities
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 

     1    Section 1. Paragraph (e) of subdivision 2 of section 485 of  the  real
     2  property  tax  law,  as  added  by chapter 87 of the laws of 2001 and as
     3  further amended by subdivision (b) of section 1 of part W of chapter  56
     4  of the laws of 2010, is amended to read as follows:
     5    (e) For assessment rolls with taxable status dates on or after January
     6  first, two thousand [sixteen] thirty-one, or such earlier year as may be
     7  specified  in  the  local  law  or  resolution authorizing the exemption
     8  [(provided that the term of the exemption shall not be  reduced  thereby
     9  to  less than five years)], the exemption provided by this section shall
    10  no longer apply and any agreement for payments in lieu of taxes for  any
    11  facility  theretofore exempt pursuant to this section shall no longer be

    12  in effect. Upon the  request  of  the  assessor  of  an  assessing  unit
    13  containing  a  nuclear powered electric generating facility, the commis-
    14  sioner shall provide an advisory appraisal of such facility for  use  on
    15  the  municipal  assessment  roll  with a taxable status date on or after
    16  January first, two thousand [sixteen] thirty-one.
    17    § 2. This act shall take effect immediately.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13659-04-4