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NY A04077
Bill
Status
Introduced
1/30/2013
Primary Sponsor
Steven McLaughlin
Click for details
AI Summary
- Establishes state reimbursement program for municipalities in Rensselaer County that have reduced property tax levies on land contaminated by the Dewey Loeffel Landfill hazardous waste site
- Defines "lost tax revenue" as the difference between actual property valuation and the reduced assessed value due to contamination, certified by the municipality's chief fiscal officer
- Requires municipalities to apply annually to the State Comptroller for reimbursement using procedures approved by the Comptroller
- Reimbursement continues until the Dewey Loeffel Landfill is removed from the state's inventory of hazardous waste sites
- Takes effect April 1st following enactment
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
6/17/2014
Committee Referrals
Ways and Means1/30/2013
Full Bill Text
No bill text available