S T A T E O F N E W Y O R K
________________________________________________________________________
8640
I N S E N A T E
February 26, 2024
___________
Introduced by Sen. RYAN -- read twice and ordered printed, and when
printed to be committed to the Committee on Local Government
AN ACT to amend subpart H of part C of chapter 20 of the laws of 2015,
relating to appropriating money for certain municipal corporations and
school districts, in relation to authorizing funding to local govern-
ment entities from the urban development corporation
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 1 of subpart H of part C of chapter 20 of the laws
of 2015, relating to appropriating money for certain municipal corpo-
rations and school districts, as amended by section 1 of part XX of
chapter 55 of the laws of 2021, is amended to read as follows:
Section 1. Contingent upon available funding, and not to exceed
$140,000,000 moneys from the urban development corporation shall be
available for a local government entity, which for the purposes of this
section shall mean a county, city, town, village, school district or
special district, where (i) on or after June 25, 2015, an electric
generating facility located within such local government entity has
ceased operations, and (ii) the closing of such facility has caused a
reduction in the real property tax collections or payments in lieu of
taxes of at least twenty percent owed by such electric generating facil-
ity. Such moneys attributable to the cessation of operations, shall be
paid annually on a first come, first served basis by the urban develop-
ment corporation to such local government entity within a reasonable
time upon confirmation from the state office of real property tax
services or the local industrial development authority established
pursuant to titles eleven and fifteen of article eight of the public
authorities law, or the local industrial development agency established
pursuant to article eighteen-A of the general municipal law that such
cessation has resulted in a reduction in the real property tax
collections or payments in lieu of taxes, provided, however, that the
urban development corporation shall not provide assistance to such local
government entity for more than [seven] TEN years, and shall award
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14161-02-4
S. 8640 2
payments reflecting the loss of revenues due to the cessation of oper-
ations as follows:
Award Year Maximum Potential Award
1 no more than eighty percent of loss of revenues
2 no more than seventy percent of loss of revenues
3 no more than sixty percent of loss of revenues
4 no more than fifty percent of loss of revenues
5 no more than forty percent of loss of revenues
6 no more than thirty percent of loss of revenues
7 no more than twenty percent of loss of revenues
8 NO MORE THAN TWENTY PERCENT OF LOSS OF REVENUES
9 NO MORE THAN TWENTY PERCENT OF LOSS OF REVENUES
10 NO MORE THAN TWENTY PERCENT OF LOSS OF REVENUES
A local government entity shall be eligible for only one payment of
funds hereunder per year. A local government entity may seek assistance
under the electric generation facility cessation mitigation fund once a
generator has submitted its notice to the federally designated electric
bulk system operator (BSO) serving the state of New York of its intent
to retire the facility or of its intent to voluntarily remove the facil-
ity from service subject to any return-to-service provisions of any
tariff, and that the facility also is ineligible to participate in the
markets operated by the BSO. The date of submission of a local govern-
ment entity's application for assistance shall establish the order in
which assistance is paid to program applicants, except that in no event
shall assistance be paid to a local government entity until such time
that an electric generating facility has retired or become ineligible to
participate in the markets operated by the BSO. For purposes of this
section, any local government entity seeking assistance under the elec-
tric generation facility cessation mitigation fund must submit an attes-
tation to the department of public service that a facility is no longer
producing electricity and is no longer participating in markets operated
by the BSO. After receipt of such attestation, the department of public
service shall confirm such information with the BSO. In the case that
the BSO confirms to the department of public service that the facility
is no longer producing electricity and participating in markets operated
by such BSO, it shall be deemed that the electric generating facility
located within the local government entity has ceased operation. The
department of public service shall provide such confirmation to the
urban development corporation upon receipt. The determination of the
amount of such annual payment shall be determined by the president of
the urban development corporation based on the amount of the differen-
tial between the annual real property taxes and payments in lieu of
taxes imposed upon the facility, exclusive of interest and penalties,
during the last year of operations and the current real property taxes
and payments in lieu of taxes imposed upon the facility, exclusive of
interest and penalties. The total amount awarded from this program shall
not exceed $140,000,000.
§ 2. This act shall take effect immediately.
