Provides that for the tax year starting December 1, 2020, payments in lieu of taxes shall not equal more than two percent of the increase in total tax rate for the current tax year over the total tax rate of the prior tax year, if any, based upon the assessed value as reflected on the final assessment roll of the current tax year.
STATE OF NEW YORK
________________________________________________________________________
6003
2019-2020 Regular Sessions
IN SENATE
May 16, 2019
___________
Introduced by Sen. MARTINEZ -- read twice and ordered printed, and when
printed to be committed to the Committee on Energy and Telecommuni-
cations
AN ACT to amend the public authorities law, in relation to payments in
lieu of taxes
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] tax year starting on [Janu-
11 ary] December first, two thousand [fifteen] twenty, and for each [calen-
12 dar] tax year thereafter, such payments in lieu of taxes shall [not
13 exceed the in lieu of tax payments made to such municipalities and
14 school districts in the immediately preceding year by more than two
15 percent] equal no more than two percent of the increase in total tax
16 rate for the current tax year over the total tax rate of the prior tax
17 year, if any, based upon the assessed value as reflected on the final
18 assessment roll of the current tax year.
19 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11579-01-9
