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Sponsors
No co-sponsors yet.
History
- Referred to finance
- Referred to finance
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Provides for state reimbursement for lost tax revenue due to devaluation of land as a result of toxic contamination
In Assembly Committee · Ways And Means · Sponsor Timothy P. Gordon
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the state finance law, in relation to providing state reimbursement for lost tax revenue due to devaluation of land subject to toxic contamination
Purpose
This legislation will provide reimbursement to municipalities who have lost tax revenue due to court ordered and marketplace impacts of contamination from the state hazardous waste site known as the Dewey Loeffel Landfill.
Provisions
Section 1: The state finance law is amended by adding a new section 54-m which defines municipality. This section also defines lost tax revenue and provides the terms under which reimbursement is provided.
Justification
The Dewey Loeffel State Hazardous Waste Site is located in southern Rensselaer County and contains more than twice the contamination of the infamous Love Canal waste site. It is estimated that more than 46,000 tons of toxic waste are buried in a failed capped landfill.
Remediation of this site has been ongoing for decades with no progress made in preventing the contamination from seeping from the site and contaminating additional properties. This contamination has significantly impacted property values as well as the assessed values of properties in the area. Courts have continuously lowered tax assessments due to the contamination on adjacent and area properties. The result is a significant financial hardship for the communities impacted by this ongoing toxic contamination.
The financial impact of this state hazardous waste site will continue for some time as the Department of Environmental Conservation has indicated that decades of remediation are in store for the site.
Prior legislative history
New bill.
Fiscal impact
Approximately $80,000 annually in municipal reimbursement.
Effective date
This act shall take effect on the first day of April next succeeding the date on which it shall become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.