NY S06163

Establishes state aid payments to cities, towns, villages, or fire districts where tax-exempt property exceeds 35% of the total property value

Distributes 50% of state aid based on each eligible entity's population relative to all qualifying municipalities

Distributes the remaining 50% based on the value of tax-exempt property in each eligible entity as a percentage of total tax-exempt property across all qualifying areas

State payments are subject to budgetary appropriation

Takes effect immediately and applies to assessment rolls prepared after the law's enactment