Assembly Bill A3603

2021-2022 Legislative Session

Provides for state reimbursement for lost tax revenue due to devaluation of land as a result of toxic contamination

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2021-A3603 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Add §54-n, St Fin L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10784
2019-2020: A818
2023-2024: A3700

2021-A3603 (ACTIVE) - Summary

Provides for state reimbursement for lost tax revenue due to devaluation of land as a result of toxic contamination.

2021-A3603 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3603
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 28, 2021
                                ___________
 
 Introduced  by M. of A. ASHBY -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the state finance law, in relation  to  providing  state
   reimbursement  for lost tax revenue due to devaluation of land subject
   to toxic contamination
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  state finance law is amended by adding a new section
 54-n to read as follows:
   § 54-N. REIMBURSEMENT FOR LOST TAX REVENUE DUE TO TOXIC CONTAMINATION.
 1. AS USED IN THIS SECTION, "MUNICIPALITY" SHALL MEAN ANY CITY, VILLAGE,
 TOWN OR FIRE DISTRICT LOCATED IN THE COUNTY OF RENSSELAER.
   2. ANY MUNICIPALITY SUBJECT TO CONTAMINATION EITHER DIRECTLY OR  INDI-
 RECTLY  FROM  THE  STATE HAZARDOUS WASTE SITE KNOWN AS THE DEWEY LOEFFEL
 LANDFILL, THAT HAS REDUCED ITS TAX LEVY ON PROPERTIES AFFECTED  BY  SUCH
 HAZARDOUS  WASTE  SITE, SHALL BE ELIGIBLE FOR REIMBURSEMENT OF SUCH LOST
 TAX REVENUE BY THE STATE. FOR PURPOSES OF THIS SECTION, "LOST TAX REVEN-
 UE" SHALL MEAN THE DIFFERENCE BETWEEN THE ACTUAL VALUATION OF SUCH  REAL
 PROPERTY  AND  THE REDUCED ASSESSED VALUE DUE TO CONTAMINATION AS CERTI-
 FIED BY THE CHIEF FISCAL OFFICER OF THE MUNICIPALITY IN WHICH SUCH PROP-
 ERTIES ARE LOCATED.
   3. SUCH REIMBURSEMENT SHALL  BE  MADE  ANNUALLY  TO  THE  MUNICIPALITY
 FOLLOWING APPLICATION BY THE CHIEF FISCAL OFFICER OF THE MUNICIPALITY TO
 THE COMPTROLLER IN A MANNER APPROVED AND PRESCRIBED BY THE COMPTROLLER.
   4.  SUCH SYSTEM OF REIMBURSEMENT SHALL CONTINUE UNTIL SUCH TIME AS THE
 DEWEY LOEFFEL LANDFILL HAS BEEN REMOVED  FROM  THE  INVENTORY  OF  STATE
 HAZARDOUS WASTE SITES.
   §  2. This act shall take effect on the first of April next succeeding
 the date on which it shall have become a law.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06400-01-1

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