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Sponsor's memo
BILL NUMBER:S8276
Title of bill
An act to amend the public authorities law, in relation to the North Country power authority, and to repeal certain provisions of such law relating thereto
Purpose or general idea of bill
This chapter amendment clarifies sections of the bill to ensure conformity with the Authority Reform Act, clarify provisions with respect to payments in lieu of taxes and to make other technical amendments.
Summary of specific provisions
Section 1 deletes sections 1021-i, 1021-u, 1021-v, 1021-w and 1021-x of the public authorities law.
Section 2 renumbers the remaining sections accordingly.
Section 3 changes the number of years the authority has to commence either one or more of transmitting, delivering and generating electric power or cease to exist from ten to seven years after the effective date of this bill.
Section 4 renumbers a reference within the bill.
Section 5 lowers from one hundred seventy-five to one hundred fifty million dollars the amount of bonds, notes or other obligations the authority may issue annually.
Section 6 makes clear that the authority shall enter into agreements to make payments in lieu of taxes with the governing bodies of municipalities and other local government taxing bodies within the North County power authority service area.
Section 7 provides for periodic review by the legislature for continuation or termination of the authority.
Section 8 sets out the effective date of the bill.
Justification
The amendments are necessary to clarify sections of the bill to ensure conformity with the Authority Reform Act, clarify provisions with respect to payments in lieu of taxes and to make other technical amend- ments.
Prior legislative history
New.
Fiscal implications for state and local governments
None.
Effective date
This act will take effect on the same date and in the same manner as a Chapter of the laws of 2010 amending the public authorities law by adding a new title 1-B amended by a chapter of the laws of 2010, amend- ing the public authorities law as proposed in legislative bills number S.2813 and A.6694-C.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.