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- Referred to rules
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Includes the village of Garden City in provisions authorizing payments in lieu of taxes by Hempstead IDA and Nassau county industrial authority
In Assembly Committee · Local Governments · Sponsor Thomas McKevitt
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S8334
Title of bill
An act to amend the general municipal law, in relation to payments in lieu of taxes by the Town of Hempstead industrial development agency and the Nassau county industrial agency for a project in the village of Garden City
Purpose
Includes the village of Garden City in provisions authorizing payments in lieu of taxes by Hempstead IDA and Nassau county industrial authority
Summary of provisions
The written consent of the chief executive officer is required in any PILOT prior to the approval of any application by the agency for a project located in the village of Garden City. The agency shall also obtain three-fifths majority of the village governing body prior to any PILOT agreement being approved. The agency must also obtain an impact analysis to determine the impact of the PILOT on the village of the project and the planned PILOT agreement.
The applicant shall bear the cost related to the impact study. The agen- cy and the village governing body shall jointly select a qualified enti- ty to conduct the impact analysis. The agency's membership shall include at least one member of the village's governing body and at least three at large members from a cross section of the community.
The agency shall review any PILOT agreement after the third year and every third year thereafter, and adjust the PILOT agreement accordingly based on changes to the assessed value and tax rate of all other real properties.
A PILOT agreement for a project shall not be renewed or renegotiated until a full forensic audit has been completed of the accounts of the party obligated to make payments in lieu of taxes.
Justification
The residents in local municipalities do not know, and have a right to know that a PILOT means that their taxes will increase because the developer is not paying taxes.
Legislative history
Chapter amendment to S.7157-B Hannon/A.10033-C Hooper of 2010
Fiscal implications
None to the State.
Effective date
This act shall take effect on the same date and in the same manner as a chapter of the laws of 2010 amending the general municipal law relating to the town of Hempstead industrial development agency and the Nassau county industrial agency, as proposed in legislative bills numbers S.7157-B and A.10033-C, takes effect.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.