Senator Nozzolio Announces $30 Million State Fund To Aid Communities With Electric Plant Closures

Continuing his efforts to protect the Town of Lansing taxpayers, New York State Senator Mike Nozzolio today announced his efforts to include a $30 million Electric Generation Facility Cessation Mitigation Fund in the newly enacted 2016-2017 State Budget were successful. The Fund was created to aid communities that lose property tax revenue due to an electric generating plant closure. This funding will be critically important to the Lansing community, which will be hurt financially by the closure of the Cayuga Power Plant. 

“The Cayuga Operating Plant is the single largest taxpayer in the Town of Lansing. As a direct result of the power plant’s closure, the average Lansing property taxpayer will pay significantly more school, town and county property taxes. The closure of the Cayuga Power Plant will make Lansing the highest taxed, non-city school district in Tompkins County, a fact that makes the Electric Generation Facility Cessation Mitigation Fund, all the more important,” said Senator Mike Nozzolio.

This Fund will be available to counties, cities, towns, villages, school districts, and special districts to replace property taxes paid by electric generating facilities that close on or after June 25, 2015. In order to qualify for the funding, a local government must demonstrate that the closing of the facility has caused a reduction in the collection of real property taxes or payments in lieu of taxes of at least 20 percent of the taxes owed by the electric generating facility. 

“For at least the past five years, the Town of Lansing residents have expressed their concerns with the financial impact the closure of the Cayuga Power Plant will have on their local property taxes, small businesses, senior citizens and those living on fixed incomes,” said Senator Nozzolio. “Funding from the Electric Generation Facility Cessation Mitigation Fund will help to reduce this tax burden and provide badly needed financial assistance to Lansing residents,” concluded Nozzolio.