What's happening
This bill requires that payments in lieu of taxes from Competitive Power Ventures to the Minisink Valley Central School District be included in calculations affecting school property tax factors.
Why it matters
Ensures full accounting of PILOT payments. By including Competitive Power Ventures' payments in lieu of taxes (PILOTs) in tax calculation factors, the bill helps reflect the actual financial resources available to the Minisink Valley Central School District, providing a more accurate picture for budgeting and planning.
Impacts tax cap calculations. Including these PILOT payments in the "quantity change factor" affects how much the district can increase its property tax levy under state law, potentially allowing the district to raise more revenue while staying within legal limits.
Creates parity between exempt and taxable property. The bill requires that changes in assessed value for properties under PILOT agreements be factored into district calculations, ensuring that new or expanding developments that are exempt from regular taxes are still considered in fiscal planning.
Could influence local school funding and taxpayer fairness. By recognizing these payments in state-mandated formulas, the bill may help distribute the tax burden more equitably among taxpayers and ensure that growth in the district's economic base (even if under PILOTs) benefits school funding.
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Count PILOT Payments as Revenue
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to education
- Committed to rules
- Advanced to third reading
- 2nd report cal.
- 1st report cal.1058
- Referred to education
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.
Count PILOTs for School Taxes
In Assembly Committee · Real Property Taxation · Sponsor Aileen Gunther
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5769
2019-2020 Regular Sessions
IN SENATE
May 14, 2019
Introduced by Sen. METZGER -- read twice and ordered printed, and when printed to be committed to the Committee on Education
AN ACT relating to payments in lieu of taxes paid to the Minisink Valley central school district
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Notwithstanding any laws to the contrary, for the purposes of section 2023-a of the education law, payment in lieu of tax agreements paid to the Minisink Valley Central School District in 2019-2020 and in subsequent years by Competitive Power Ventures shall be included in the quantity change factor and shall show the percentage by which the full value of the taxable real property in the school district has changed due to physical or quantity change between the second final assessment roll or rolls preceding the final assessment roll or rolls upon which taxes are to be levied, and the final assessment roll or rolls immediately preceding the final assessment roll or rolls upon which taxes are to be levied and shall include the change in assessed value for each property on the exempt side of the tax rolls under a payment in lieu of tax agreement.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11693-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act relating to payments in lieu of taxes paid to the Minisink Valley central school district
Purpose
Relates to payments in lieu of taxes (PILOT) paid to the Minisink Valley Central School District
Summary of provisions
Section 1 of the bill will make changes to the real property tax cap quantity change factor for the the Minisink Valley Central School District on the PILOT paid to by Competitive Power Ventures to provide that the change in assessed value for each property on the exempt side of the tax roll for this PILOT agreement.
Justification
The current Real Property Tax Cap law does not account for improvements made on a property when a PILOT is cited there, nor does it address the fiscal issues regarding the expected tax payments on the balance sheet that would have been due to a school district, but no longer will be paid due to the PILOT coming online. Under current law, when the PILOT is new, the Tax Base Growth Factor does not count these real property tax improvements which causes an inequity in the calculation.
This bill will address the accounting of a specific PILOT payment within the tax cap calculation for the Minisink School District for the new PILOT from Competitive Power Ventures (CPV). The impact of this PILOT on the allowable growth of the tax levy for the Minisink school community creates a serious school budget issue and a negative tax cap for the school district budget that must be addressed.
Legislative history
New bill.
Fiscal implications
None to the state
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.