Bill S2502-2011

Provides for state reimbursement for lost tax revenue due to devaluation of land as a result of toxic contamination

Provides for state reimbursement for lost tax revenue due to devaluation of land as a result of toxic contamination.

Details

Actions

  • May 2, 2012: referred to ways and means
  • May 2, 2012: DELIVERED TO ASSEMBLY
  • May 2, 2012: PASSED SENATE
  • Apr 30, 2012: ADVANCED TO THIRD READING
  • Apr 26, 2012: 2ND REPORT CAL.
  • Apr 25, 2012: 1ST REPORT CAL.578
  • Jan 4, 2012: REFERRED TO FINANCE
  • Jan 24, 2011: REFERRED TO FINANCE

Meetings

Calendars

Votes

Memo

BILL NUMBER:S2502

TITLE OF BILL: An act to amend the state finance law, in relation to providing state reimbursement for lost tax revenue due to devaluation of land subject to toxic contamination

PURPOSE: This legislation will provide reimbursement to municipalities who have lost tax revenue due to court ordered and marketplace impacts of contamination from the state hazardous waste site known as the Dewey Loeffel Landfill.

PROVISIONS:

Section 1: The state finance law is amended by adding a new section 54-m which defines municipality. This section also defines lost tax revenue and provides the terms under which reimbursement is provided.

JUSTIFICATION:

The Dewey Loeffel State Hazardous Waste Site is located in southern Rensselaer County and contains more than twice the contamination of the infamous Love Canal waste site. It is estimated that more than 46,000 tons of toxic waste are buried in a failed capped landfill.

Remediation of this site has been ongoing for decades with no progress made in preventing the contamination from seeping from the site and contaminating additional properties. This contamination has significantly impacted property values as well as the assessed values of properties in the area. Courts have continuously lowered tax assessments due to the contamination on adjacent and area properties. The result is a significant financial hardship for the communities impacted by this ongoing toxic contamination.

The financial impact of this state hazardous waste site will continue for some time as the Department of Environmental Conservation has indicated that decades of remediation are in store for the site.

PRIOR LEGISLATIVE HISTORY: New bill.

FISCAL IMPACT: Approximately $80,000 annually in municipal reimbursement.

EFFECTIVE DATE: This act shall take effect on the first day of April next succeeding the date on which it shall become a law.


Text

STATE OF NEW YORK ________________________________________________________________________ 2502 2011-2012 Regular Sessions IN SENATE January 24, 2011 ___________
Introduced by Sen. McDONALD -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the state finance law, in relation to providing state reimbursement for lost tax revenue due to devaluation of land subject to toxic contamination THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The state finance law is amended by adding a new section 54-m to read as follows: S 54-M. REIMBURSEMENT FOR LOST TAX REVENUE DUE TO TOXIC CONTAMINATION. 1. AS USED IN THIS SECTION, "MUNICIPALITY" SHALL MEAN ANY CITY, VILLAGE, TOWN OR FIRE DISTRICT LOCATED IN THE COUNTY OF RENSSELAER. 2. ANY MUNICIPALITY SUBJECT TO CONTAMINATION EITHER DIRECTLY OR INDI- RECTLY FROM THE STATE HAZARDOUS WASTE SITE KNOWN AS THE DEWEY LOEFFEL LANDFILL, THAT HAS REDUCED ITS TAX LEVY ON PROPERTIES AFFECTED BY SUCH HAZARDOUS WASTE SITE, SHALL BE ELIGIBLE FOR REIMBURSEMENT OF SUCH LOST TAX REVENUE BY THE STATE. FOR PURPOSES OF THIS SECTION, "LOST TAX REVEN- UE" SHALL MEAN THE DIFFERENCE BETWEEN THE ACTUAL VALUATION OF SUCH REAL PROPERTY AND THE REDUCED ASSESSED VALUE DUE TO CONTAMINATION AS CERTI- FIED BY THE CHIEF FISCAL OFFICER OF THE MUNICIPALITY IN WHICH SUCH PROP- ERTIES ARE LOCATED. 3. SUCH REIMBURSEMENT SHALL BE MADE ANNUALLY TO THE MUNICIPALITY FOLLOWING APPLICATION BY THE CHIEF FISCAL OFFICER OF THE MUNICIPALITY TO THE COMPTROLLER IN A MANNER APPROVED AND PRESCRIBED BY THE COMPTROLLER. 4. SUCH SYSTEM OF REIMBURSEMENT SHALL CONTINUE UNTIL SUCH TIME AS THE DEWEY LOEFFEL LANDFILL HAS BEEN REMOVED FROM THE INVENTORY OF STATE HAZARDOUS WASTE SITES. S 2. This act shall take effect on the first of April next succeeding the date on which it shall have become a law.

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