NY S04203

Removes tax increment financing as a value capture method for mass transportation capital project districts, while retaining special transportation assessments, land value taxation, and combination approaches

Requires municipal corporations to publish two analyses on their website at least two weeks before public hearings on proposed districts: revenue projections based on historic property tax data showing expected property value increases, and transportation engineering analysis demonstrating public benefit

Mandates that analyses include machine-readable data in tabular format with methodology explanations, and requires written responses to public comments within one month after the hearing

Makes permanent the value capture provisions in the general municipal law that were previously set to expire April 1, 2025

Limits total taxes, assessments, fees, and charges on each parcel to an amount proportionate to the actual benefit derived from the mass transportation capital project