S 649: Authorizes funding to local government entities from the urban development corporation through the electric generation facility cessation mitigation fund for an additional three years.

  
  STATE OF NEW YORK ________________________________________________________________________ 649 2025-2026 Regular Sessions  IN SENATE (Prefiled) January 8, 2025 ___________ Introduced by Sen. RYAN S -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend subpart H of part C of chapter 20 of the laws of 2015, relating to appropriating money for certain municipal corporations and school districts, in relation to authorizing funding to local govern- ment entities from the urban development corporation The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 1 of subpart H of part C of chapter 20 of the laws 2 of 2015, relating to appropriating money for certain municipal corpo- 3 rations and school districts, as amended by section 1 of part XX of 4 chapter 55 of the laws of 2021, is amended to read as follows: 5 Section 1. Contingent upon available funding, and not to exceed 6 $140,000,000 moneys from the urban development corporation shall be 7 available for a local government entity, which for the purposes of this 8 section shall mean a county, city, town, village, school district or 9 special district, where (i) on or after June 25, 2015, an electric 10 generating facility located within such local government entity has 11 ceased operations, and (ii) the closing of such facility has caused a 12 reduction in the real property tax collections or payments in lieu of 13 taxes of at least twenty percent owed by such electric generating facil- 14 ity. Such moneys attributable to the cessation of operations, shall be 15 paid annually on a first come, first served basis by the urban develop- 16 ment corporation to such local government entity within a reasonable 17 time upon confirmation from the state office of real property tax 18 services or the local industrial development authority established 19 pursuant to titles eleven and fifteen of article eight of the public 20 authorities law, or the local industrial development agency established 21 pursuant to article eighteen-A of the general municipal law that such 22 cessation has resulted in a reduction in the real property tax EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02460-01-5 
 S. 649 2 1 collections or payments in lieu of taxes, provided, however, that the 2 urban development corporation shall not provide assistance to such local 3 government entity for more than [seven] ten years, and shall award 4 payments reflecting the loss of revenues due to the cessation of oper- 5 ations as follows: 6 Award Year Maximum Potential Award 7 1 no more than eighty percent of loss of revenues 8 2 no more than seventy percent of loss of revenues 9 3 no more than sixty percent of loss of revenues 10 4 no more than fifty percent of loss of revenues 11 5 no more than forty percent of loss of revenues 12 6 no more than thirty percent of loss of revenues 13 7 no more than twenty percent of loss of revenues 14 8 no more than twenty percent of loss of revenues 15 9 no more than twenty percent of loss of revenues 16 10 no more than twenty percent of loss of revenues 17 A local government entity shall be eligible for only one payment of 18 funds hereunder per year. A local government entity may seek assistance 19 under the electric generation facility cessation mitigation fund once a 20 generator has submitted its notice to the federally designated electric 21 bulk system operator (BSO) serving the state of New York of its intent 22 to retire the facility or of its intent to voluntarily remove the facil- 23 ity from service subject to any return-to-service provisions of any 24 tariff, and that the facility also is ineligible to participate in the 25 markets operated by the BSO. The date of submission of a local govern- 26 ment entity's application for assistance shall establish the order in 27 which assistance is paid to program applicants, except that in no event 28 shall assistance be paid to a local government entity until such time 29 that an electric generating facility has retired or become ineligible to 30 participate in the markets operated by the BSO. For purposes of this 31 section, any local government entity seeking assistance under the elec- 32 tric generation facility cessation mitigation fund must submit an attes- 33 tation to the department of public service that a facility is no longer 34 producing electricity and is no longer participating in markets operated 35 by the BSO. After receipt of such attestation, the department of public 36 service shall confirm such information with the BSO. In the case that 37 the BSO confirms to the department of public service that the facility 38 is no longer producing electricity and participating in markets operated 39 by such BSO, it shall be deemed that the electric generating facility 40 located within the local government entity has ceased operation. The 41 department of public service shall provide such confirmation to the 42 urban development corporation upon receipt. The determination of the 43 amount of such annual payment shall be determined by the president of 44 the urban development corporation based on the amount of the differen- 45 tial between the annual real property taxes and payments in lieu of 46 taxes imposed upon the facility, exclusive of interest and penalties, 47 during the last year of operations and the current real property taxes 48 and payments in lieu of taxes imposed upon the facility, exclusive of 49 interest and penalties. The total amount awarded from this program shall 50 not exceed $140,000,000. 51 § 2. This act shall take effect immediately.