NY S03245

Requires 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 and school districts

Removes the commissioner's discretionary authority to promulgate rules adjusting quantity change factor calculations based on development on tax-exempt land

Amends both the General Municipal Law (Section 3-c) and Education Law (Section 2023-a) to apply these changes to both local governments and school districts

Takes effect 120 days after becoming law, with authorization for necessary regulatory changes to be completed before the effective date

Sponsored by Senators Cooney, Martins, May, O'Mara, Rhoads, and Webb; referred to Committee on Local Government