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NY S00649
Bill
Status
Engrossed
6/9/2025
Primary Sponsor
Sean Ryan
Click for details
AI Summary
- Extends financial assistance for local governments affected by electric generating facility closures from seven years to ten years
- Adds three additional award years (years 8, 9, and 10) at a maximum of twenty percent of lost revenues each year
- Provides funding through the Urban Development Corporation to counties, cities, towns, villages, school districts, and special districts that experience at least a 20% reduction in property tax collections or payments in lieu of taxes due to facility closures
- Maintains the overall program funding cap at $140,000,000 and continues the declining payment schedule starting at 80% in year one
- Applies to electric generating facilities that ceased operations on or after June 25, 2015
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
6/9/2025
Committee Referrals
Local Governments6/9/2025
Rules6/4/2025
Local Government1/8/2025
Full Bill Text
No bill text available