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NY A05850
Bill
Status
3/23/2023
Primary Sponsor
Dana Levenberg
Click for details
AI Summary
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School districts with expiring payment in lieu of taxes (PILOT) agreements due to nuclear power plant closures are exempted from state tax levy limit restrictions for eight years following the agreement's expiration.
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During the eight-year exemption period, affected school districts may increase their tax levy by no more than four percent annually compared to the prior school year.
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The exemption applies to school districts that had PILOT agreements with any person, firm, partnership, corporation, limited liability company, or other business entity operating a nuclear power plant.
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The act takes effect immediately upon enactment.
Legislative Description
Provides for a temporary exemption to limitations upon school district tax levies to school districts who experience a loss of a payment in lieu of taxes agreement due to the closure of a nuclear power plant.
Last Action
referred to education
1/3/2024