NY S08235

Legislative Description

Authorizes funds to municipalities from the UDC in the case of certain tax certiorari challenges or agreed upon settlements resulting in loss of tax revenues or increased tax levies of over twenty percent or in regards to a settlement agreement, a reduction in real property taxes or a payment in lieu of taxes of at least twenty percent in the aggregate over the term of such settlement agreement; and permits the establishment of tax certiorari stabilization reserve funds.

Last Action

Committee Referrals