S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    649
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 8, 2025
                                ___________
 
 Introduced  by  Sen. S. 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

 S                                                          LBD02460-01-5
 S. 649                              2
 
 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
 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.