NY S07283

Creates a new state aid program for cities, towns, villages, or fire districts where tax-exempt property represents more than 35 percent of the total property value.

Requires the state to pay eligible jurisdictions a sum subject to budgetary appropriation, with 50 percent distributed based on population and 50 percent based on the value of tax-exempt property.

Applies to assessment rolls prepared on the basis of taxable status dates occurring on or after the effective date of the law.