NY S07531

Authorizes the town of Amherst, Erie County to discontinue and convey 1.17 acres of parkland located at the intersection of Bailey Avenue and Oxford Street (Subdivision Lots 46-60, Block J).

Requires the town to acquire and dedicate replacement parkland of approximately 0.66 acres (28,254.89 square feet) in the same town for public park purposes as a condition of the conveyance.

Mandates the town dedicate funds equal to any difference in fair market value between the discontinued and replacement parcels toward acquiring additional parklands or funding capital improvements to existing parks.

Requires compliance with federal Land and Water Conservation Fund requirements, including obtaining the Secretary of the Interior's approval that replacement lands are equivalent in fair market value and recreational usefulness.

Takes effect immediately upon enactment.