Removes the requirement that payments in lieu of taxes not exceed the in lieu of tax payments made to a municipality or school district in the immediately preceding year by more than two percent.
STATE OF NEW YORK
________________________________________________________________________
10080
IN ASSEMBLY
March 14, 2018
___________
Introduced by M. of A. THIELE -- read once and referred to the Committee
on Corporations, Authorities and Commissions
AN ACT to amend the public authorities law, in relation to the two
percent cap on payments is in lieu of taxes paid to municipalities and
school districts
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 1 of section 1020-q of the public authorities
2 law, as amended by section 8 of part A of chapter 173 of the laws of
3 2013, is amended to read as follows:
4 1. Each year after property theretofore owned by LILCO is acquired by
5 the authority by any means authorized by this title and, as a conse-
6 quence, is removed from the tax rolls, the authority shall make payments
7 in lieu of taxes to municipalities and school districts equal to the
8 taxes and assessments which would have been received from year to year
9 by each such jurisdiction if such acquisition had not occurred[,
10 provided, however, that for the calendar year starting on January first,
11 two thousand fifteen, and for each calendar year thereafter, such
12 payments in lieu of taxes shall not exceed the in lieu of tax payments
13 made to such municipalities and school districts in the immediately
14 preceding year by more than two percent].
15 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD15020-01-8