NY A07091

Amends the General Municipal Law to require the Commissioner of Taxation and Finance to include changes in assessed value for properties under payment in lieu of tax (PILOT) agreements when calculating the quantity change factor for local governments.

Amends the Education Law to require the Commissioner of Taxation and Finance to include changes in assessed value for PILOT properties when calculating the quantity change factor for school districts.

Removes provisions allowing the Commissioner to promulgate rules adjusting quantity change factor calculations based on development on tax-exempt land.

Takes effect 120 days after becoming law, with authorization for necessary rule and regulation changes to be completed immediately.