Loading chat...

NY A09380

Bill

Official Source

Status

Passed

9/4/2014

Primary Sponsor

Sandra Galef

Click for details

Origin

Assembly

2013-2014 General Assembly

AI Summary

  • Amends Real Property Tax Law section 485 to extend the tax exemption for nuclear powered electric generating facilities from January 1, 2016 to January 1, 2031
  • Removes the requirement that exemption terms must be at least five years in duration
  • Terminates any existing payment-in-lieu-of-taxes agreements for nuclear facilities upon the exemption expiration date
  • Requires the commissioner to provide an advisory appraisal of nuclear facilities to assessing units upon request for use on municipal assessment rolls after the exemption expires
  • Takes effect immediately upon enactment

Legislative Description

Extends the real property tax exemption for nuclear powered electric generating facilities to 2031.

Last Action

signed chap.336

9/4/2014

Committee Referrals

Local Government5/13/2014
Ways and Means4/29/2014
Real Property Taxation4/23/2014

Full Bill Text

No bill text available