Senate Bill S453

2015-2016 Legislative Session

Relates to reductions of payments in lieu of taxes

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Sponsored By

Archive: Last Bill Status - In Senate Committee Local Government Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-S453 (ACTIVE) - Details

See Assembly Version of this Bill:
A2031
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add Art 3-A ยง370, RPT L
Versions Introduced in Other Legislative Sessions:
2011-2012: S5872, A9577
2013-2014: S1488, A1866
2017-2018: S1260, A8621
2019-2020: S1914, A146
2021-2022: S950, A6050

2015-S453 (ACTIVE) - Summary

Relates to reductions of payments in lieu of taxes; provides that where such payment agreement is to be reduced due to a reassessment of the parcel of real property such agreement is related to, such reduction shall be phased in over 10 years if the reduction would negatively affect the revenues of a local government by more than 5%.

2015-S453 (ACTIVE) - Sponsor Memo

2015-S453 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   453

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by  Sen.  MARCELLINO  -- read twice and ordered printed, and
  when printed to be committed to the Committee on Local Government

AN ACT to amend the real property tax law, in  relation  to  payment  in
  lieu of taxes agreements

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The real property tax law is amended by adding a new  arti-
cle 3-A to read as follows:
                               ARTICLE 3-A
                   PAYMENT IN LIEU OF TAXES AGREEMENTS
SECTION 370. PAYMENT IN LIEU OF TAXES AGREEMENTS.
  S  370.  PAYMENT  IN  LIEU OF TAXES AGREEMENTS. 1. FOR THE PURPOSES OF
THIS SECTION:
  (A) "LOCAL GOVERNMENT" SHALL MEAN ANY MUNICIPAL CORPORATION AS DEFINED
PURSUANT TO SECTION TWO OF THE  GENERAL  MUNICIPAL  LAW  OR  ANY  SCHOOL
DISTRICT OR BOARD OF COOPERATIVE EDUCATIONAL SERVICES.
  (B)  "PAYMENT  IN  LIEU OF TAXES AGREEMENT" OR "PILOT AGREEMENT" SHALL
MEAN AN AGREEMENT ENTERED INTO BETWEEN A LOCAL  GOVERNMENT  AND  ANOTHER
PARTY  WHEREBY  SUCH  OTHER  PARTY COMPENSATES SUCH LOCAL GOVERNMENT FOR
SOME OR ALL OF THE TAX REVENUE LOST DUE TO THE  NATURE  OF  THE  USE  OR
OWNERSHIP  OF  A PARCEL OF REAL PROPERTY BY SUCH OTHER PARTY. THE AMOUNT
OF SUCH PAYMENT IN LIEU OF TAXES IS  BASED  ON  AN  ASSESSMENT  OF  SUCH
PARCEL OF REAL PROPERTY.
  2.  IF THE AMOUNT OF ANY PAYMENT IN LIEU OF TAXES IS REDUCED, DUE TO A
REASSESSMENT OF THE PARCEL OF REAL PROPERTY SUCH  AGREEMENT  IS  RELATED
TO,  AND SUCH REDUCTION WOULD NEGATIVELY IMPACT THE TOTAL REVENUE OF ANY
LOCAL GOVERNMENT BY MORE THAN FIVE PERCENT, SUCH REDUCTION  IN  PAYMENTS
IN LIEU OF TAXES SHALL BE PHASED IN OVER A TEN YEAR PERIOD.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02487-01-5

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