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NY A03626
Bill
Status
Introduced
1/29/2025
Primary Sponsor
William Conrad
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AI Summary
- Extends the maximum duration of financial assistance to local governments affected by electric generating facility closures from seven years to ten years
- Maintains the existing declining payment schedule (80% of lost revenue in year 1, decreasing to 20% by year 7) and adds three additional years at 20% of lost revenue for years 8-10
- Applies to local government entities (counties, cities, towns, villages, school districts, special districts) that experienced at least a 20% reduction in property tax or PILOT payments due to facility closure
- Program funding remains capped at $140,000,000 total from the Urban Development Corporation
- Eligibility requires facilities to have ceased operations on or after June 25, 2015, with confirmation from the Department of Public Service and federal bulk system operator
Legislative Description
Authorizes funding to local government entities from the urban development corporation through the electric generation facility cessation mitigation fund for an additional three years.
Last Action
referred to local governments
1/7/2026
Committee Referrals
Local Governments1/29/2025
Full Bill Text
No bill text available