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NY A09909
Bill
Status
5/28/2014
Primary Sponsor
Fred Thiele
Click for details
AI Summary
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Hampton Bays Public Library is eligible for payments from the Town of Southampton's community preservation fund to compensate for lost tax revenues from tax-exempt lands acquired for community preservation purposes.
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The library was entitled to a $36,281 payment for 2014 but did not receive it due to an administrative error; both the 2014 and 2015 payments will be made together in the town's 2015 budget.
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Without this legislation, both payments being attributed to 2015 would artificially lower the library's tax levy limit for 2015, requiring a 60 percent supermajority for budget adoption and making residents ineligible for state tax rebates.
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The $36,281 payment for 2014 shall be counted toward the prior fiscal year rather than the coming fiscal year for purposes of calculating the tax levy limit for 2015.
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The act takes effect immediately.
Legislative Description
Makes certain findings and determinations with respect to certain payments to the Hampton Bays Public Library from the Town of Southampton, county of Suffolk, from its community preservation fund in relation to the limit upon real property tax levies by local governments.
Last Action
held for consideration in ways and means
6/17/2014