Increases the amount of money appropriated to local government entities

1 Co-sponsor

• Catharine Young

Title of bill

An act to amend chapter 20 of the laws of 2015 appropriating money for certain municipal corporations and school districts, in relation to increasing the amount of monies appropriated therefor to local government entities

Purpose or general idea of bill

To assist communities that have suffered the loss of tax base as a result of the closure of coal fired electric generating power plants.

Summary of specific provisions

Section 1 - a) provides legislative findings; and b) increases the funds available to local government entities adversely affected by the closure of coal fired electric generating power plants from $19 million to $50 million and defines local government entities as a county, city, town, village, school district or special district. It further provides that such moneys attributable to the facility closure shall be paid within thirty days after the date upon which the taxes, or payment in lieu of taxes, which would have been imposed upon such facility if not for the cessation of activity, would have been due. This section makes further provisions regarding eligibility. Subsequent sections of part H are renumbered.

Section 2 - provides that the act shall take effect immediately, provided that the amendments to subpart H of part C of Chapter 20 of the Laws of 2015, made by section one of this act, shall not affect the expiration and repeal of such subpart, and shall expire and be deemed repealed therewith.

Justification

As a result of reductions of natural gas prices, increased regulation of coal fired plants, age related obsolescence and reduced demand for electricity, coal fired electricity generating facilities are closing in New York State. These facilities are an important source of real property tax revenue to their host communities, and these closures mean a significant, and potentially catastrophic, reduction in the tax base for these communities. This bill will help to mitigate the serious impact of this loss to the local tax base, and allow them to adjust to this loss over a reasonable period of time.

Prior legislative history

New bill.

Fiscal implications

None.

Effective date

This act shall take effect immediately, provided that the amendments to subpart H of part C of Chapter 20 of the laws of 2015, made by section one of this act, shall not affect the expiration and repeal of such subpart, and shall expire and be deemed repealed therewith.