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NY A05504
Bill
Status
Introduced
2/22/2011
Primary Sponsor
Steven McLaughlin
Click for details
AI Summary
- Creates annual state reimbursement for municipalities in Rensselaer County that have reduced property tax assessments due to contamination from the Dewey Loeffel Landfill hazardous waste site
- Eligible municipalities include cities, villages, towns, and fire districts directly or indirectly affected by the contaminated site
- Lost tax revenue is calculated as the difference between actual property valuation and reduced assessed value, certified by the municipality's chief fiscal officer
- Municipalities must apply for reimbursement through the State Comptroller using procedures prescribed by the Comptroller
- Reimbursement continues until the Dewey Loeffel Landfill is removed from the state's inventory of hazardous waste sites
Legislative Description
Provides for state reimbursement for lost tax revenue due to devaluation of land as a result of toxic contamination.
Last Action
held for consideration in ways and means
6/19/2012
Committee Referrals
Ways and Means2/22/2011
Full Bill Text
No bill text available