STATE OF NEW YORK
________________________________________________________________________
11276
IN ASSEMBLY
July 25, 2018
___________
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Lavine) --
read once and referred to the Committee on Corporations, Authorities
and Commissions
AN ACT to amend the public authorities law, in relation to tax certior-
ari proceedings by the Long Island power authority
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision (u) of section 1020-f of the public authorities
2 law is amended by adding a new paragraph 5 to read as follows:
3 5. Notwithstanding any law, rule, or regulation to the contrary, in
4 the event that the authority either succeeds in a tax certiorari chal-
5 lenge against a municipality on one or more of its electric generating
6 facilities or agrees to a reduction in its property taxes or payments in
7 lieu of taxes paid through a settlement agreement with a municipality on
8 one or more of its electric generating facilities, any savings in prop-
9 erty taxes or payments in lieu of taxes paid by the authority shall be
10 used solely to reduce the rates paid by its ratepayers.
11 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD16328-03-8
