Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 26, 2020 |
referred to cities |
Senate Bill S7849
2019-2020 Legislative Session
Sponsored By
(D) 26th Senate District
Archive: Last Bill Status - In Senate Committee Cities 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
Actions
co-Sponsors
(R, C, IP, RFM) 24th Senate District
2019-S7849 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A4872
- Current Committee:
- Senate Cities
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §489-aaaaaa, RPT L; amd §11-268, NYC Ad Cd
- Versions Introduced in Other Legislative Sessions:
-
2017-2018:
S7615, A9827
2021-2022: A3875
2019-S7849 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7849 SPONSOR: GOUNARDES TITLE OF BILL: An act to amend the real property tax law and the administrative code of the city of New York, in relation to applications by certain electric generating facilities for tax abatements for industrial and commercial construction work on properties in a city of one million or more persons PURPOSE OR GENERAL IDEA OF BILL: This bill would amend the Real Property Tax Law and the Administrative Code of the City of New York to reauthorize the Industrial and Commer- cial Abatement Program (ICAP) to correct a defect in the 2011 amendment that provides as-a-right ICAP benefits to electric peaking generating facilities. SUMMARY OF PROVISIONS: Section one sets forth the bill's legislative findings. Section two
2019-S7849 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7849 I N S E N A T E February 26, 2020 ___________ Introduced by Sens. GOUNARDES, LANZA -- read twice and ordered printed, and when printed to be committed to the Committee on Cities AN ACT to amend the real property tax law and the administrative code of the city of New York, in relation to applications by certain electric generating facilities for tax abatements for industrial and commercial construction work on properties in a city of one million or more persons THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings. The legislature hereby finds that the 2011 amendment to the industrial and commercial abatement program was successful in preventing a large increase in capacity rates for elec- tricity that would have cost ratepayers in the city of New York hundreds of millions of dollars had the law not been changed. However, in the haste to adopt that law, a new peaking power plant fell through the cracks and has been paying property taxes since it began operations in 2012, even though the 2011 statute clearly intended that industrial and commercial abatement program benefits be provided to peaking power plants as a right. This act would correct that defect in the statute and enable the facility to receive industrial and commercial abatement program benefits prospectively. § 2. Subdivision 17 of section 489-aaaaaa of the real property tax law, as amended by chapter 28 of the laws of 2011, is amended to read as follows: 17. "Utility property" means property and equipment as described in paragraphs (c), (d), (e), (f) and (i) of subdivision twelve of section one hundred two of this chapter that is used in the ordinary course of business by its owner or any other entity or property as described in paragraphs (a) and (b) of subdivision twelve of section one hundred two of this chapter that is owned by any entity that uses in the ordinary course of business property and equipment as described in paragraphs (c), (d), (e), (f) and (i) of subdivision twelve of section one hundred two of this chapter, without regard to the classification of such prop- erty and equipment for real property tax purposes pursuant to section EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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