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NY A10692
Bill
Status
6/21/2012
Primary Sponsor
Earlene Hooper
Click for details
AI Summary
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Requires written consent from the chief executive officer of the Village of Freeport or Village of Hempstead before any PILOT (Payment in Lieu of Taxes) agreement approval by industrial development agencies for projects in those villages.
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Mandates three-fifths majority approval from the affected village governing body and requires a joint impact analysis conducted by a qualified entity selected by the agency and village, with costs borne by the PILOT applicant.
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Requires agency membership to include at least one member of the affected village's governing body and at least three at-large members from the village community when reviewing and approving PILOT agreements for projects in these villages.
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Mandates triennial review and adjustment of PILOT agreements starting after the third year, with written reports to the villages documenting any variances or revenue changes.
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Prohibits renewal or renegotiation of PILOT agreements until a full audit of the obligated party's accounts is completed by a jointly-selected qualified entity, with costs borne by the paying party; villages may request additional State Comptroller review.
Legislative Description
Requires signatures of chief executives of the villages of Hempstead and Freeport for payments in lieu of taxes prior to the grant of application or the effectiveness of any such grant for a payment for projects approved by the Nassau county industrial development agency and the town of Hempstead industrial development agency.
Last Action
REFERRED TO RULES
6/21/2012