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NY A08097
Bill
Status
12/17/2014
Primary Sponsor
Earlene Hooper
Click for details
AI Summary
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Amends General Municipal Law sections 905 and 922 to require consultation with the chief executive officer and governing body of the Village of Freeport or Village of Hempstead before any PILOT (Payment In Lieu of Taxes) agreement approval for projects in those villages.
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Mandates that the agency obtain an impact analysis to determine project effects on the village, with costs borne by the PILOT agreement applicant and the analysis jointly selected by the agency and village governing body.
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Requires agency membership reviewing PILOT applications for these villages to include at least one member of the village's governing body and at least three at-large members from the village community.
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Establishes triennial review requirement for PILOT agreements in these villages starting after the third year, with adjustments based on changes to assessed values and tax rates of other village properties.
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Prohibits renewal or renegotiation of PILOT agreements until a full audit of the obligated party's accounts is completed, jointly selected by the agency and village governing body, with audit costs borne by the obligated party.
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
signed chap.493
12/17/2014