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S01700 Summary:

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S01700 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         1700--A
            Cal. No. 134
 
                               2015-2016 Regular Sessions
 
                    IN SENATE
 
                                    January 14, 2015
                                       ___________
 
        Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
          printed to be committed  to  the  Committee  on  Local  Government  --
          reported  favorably  from  said  committee,  ordered  to first report,
          amended on first report,  ordered  to  a  second  report  and  ordered
          reprinted, retaining its place in the order of second report
 
        AN ACT in relation to the town of Eagle, county of Wyoming wind project
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Legislative findings and  intent.  The  legislature  hereby
     2  finds  that  when  the  town  of  Eagle wind project PILOT ends, it will
     3  create a sudden gap in the town's tax revenues. As the current  revenues
     4  from  this  project completely cover all of the town's taxes, the end of
     5  this project will create a serious financial burden on the town's  prop-
     6  erty  taxpayers.  To  ameliorate  this  burden, the legislature finds it
     7  necessary to exempt the town of Eagle from certain provisions of section
     8  6-e of the general municipal law for a limited period of time  to  allow
     9  the town to phase in the new property tax burden.
    10    §  2.  1.  It  is  hereby found and determined that the town of Eagle,
    11  county of Wyoming, exceeded its maximum appropriation for  payment  into
    12  the  contingency and tax stabilization reserve fund pursuant to subdivi-
    13  sion 3 of section 6-e of the general municipal law where the balance  of
    14  the  fund  exceeded  ten  percent  of the eligible portion of the annual
    15  budget for fiscal years 2013-2014 and 2014-2015.
    16    2. Notwithstanding the defects described in subdivision one of section
    17  two of this act, to the extent that the town  of  Eagle  exceeded  their
    18  maximum appropriation, such amounts are hereby legalized, validated, and
    19  ratified.
    20    § 3. Notwithstanding subdivision 3 and paragraph e of subdivision 4 of
    21  section  6-e  of  the general municipal law, the town of Eagle is hereby
    22  authorized to appropriate an amount up to fifteen percent of the  eligi-
    23  ble  portion  of  the  annual  budget  for the fiscal year for which the
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04623-02-5
        S. 1700--A                          2
 
     1  appropriation would be made into the contingency and  tax  stabilization
     2  reserve fund.
     3    §  4.  Notwithstanding  paragraph d of subdivision 4 of section 6-e of
     4  the general municipal law, the town of Eagle  is  hereby  authorized  to
     5  utilize an amount up to fifty percent of any fiscal year's annual budget
     6  from  the  contingency  and  tax stabilization reserve fund to lessen or
     7  prevent any projected real property tax increase needed to  finance  the
     8  eligible  portion  of  the  annual budget for the next succeeding fiscal
     9  year. This amount may be expended from such  fund  until  such  fund  is
    10  wholly  depleted  or  ten  years  after  the effective date of this act,
    11  whichever occurs first.
    12    § 5. This act shall take effect immediately provided that  once  PILOT
    13  payments  are  no  longer  received  pursuant  to the town of Eagle wind
    14  project PILOT, the authority of the town of Eagle under section three of
    15  this act shall terminate; and, provided, further that  section  four  of
    16  this  act shall take effect upon the final PILOT payment received by the
    17  town of Eagle under the town of Eagle wind project PILOT.