Bill S7050A-2013

Relates to the town of Eagle, county of Wyoming wind project

Relates to the town of Eagle, county of Wyoming wind project.

Details

Actions

  • Jun 11, 2014: referred to local governments
  • Jun 11, 2014: DELIVERED TO ASSEMBLY
  • Jun 11, 2014: PASSED SENATE
  • Jun 11, 2014: HOME RULE REQUEST
  • Jun 10, 2014: ORDERED TO THIRD READING CAL.1266
  • Jun 10, 2014: COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • Jun 3, 2014: PRINT NUMBER 7050A
  • Jun 3, 2014: AMEND AND RECOMMIT TO LOCAL GOVERNMENT
  • Apr 21, 2014: REFERRED TO LOCAL GOVERNMENT

Meetings

Calendars

Votes

VOTE: COMMITTEE VOTE: - Rules - Jun 10, 2014
Ayes (21): Skelos, Libous, Bonacic, Carlucci, Farley, Flanagan, Hannon, Larkin, LaValle, Marcellino, Maziarz, Nozzolio, Seward, Valesky, Little, Stewart-Cousins, Breslin, Dilan, Montgomery, Parker, Espaillat
Ayes W/R (3): Krueger, Perkins, Gianaris
Excused (1): Hassell-Thompson

Memo

BILL NUMBER:S7050A

TITLE OF BILL: An act in relation to the town of Eagle, county of Wyoming wind project

PURPOSE: This bill exempts the town of Eagle, county of Wyoming, from certain provisions of section 6-e of the general municipal law for a limited period of time to allow the town to minimize the property tax burden when its wind project PILOT ends.

SUMMARY OF PROVISIONS:

Section 1 states the legislative findings and intent.

Section 2 states that to the extent the town of Eagle exceeded their maximum appropriation for payment into the contingency and tax stabilization reserve fund, such amounts are legalized, validated, and ratified.

Section 3 authorizes the town of Eagle to appropriate an amount up to fifteen percent of the eligible portion of the annual budget for the fiscal year for which the appropriation is made into the contingency and tax stabilization reserve fund.

Section 4 authorizes the town of Eagle to utilize an amount up to fifty percent of any fiscal year's annual budget from the contingency and tax stabilization reserve fund to lessen or prevent any projected real property tax increase needed to finance the eligible portion of the annual budget for the next succeeding fiscal year. This amount may be expended from such fund until the fund is wholly depleted or ten years after the effective date of this act, whichever occurs first.

Section 5 states that this act shall take effect immediately provided that once PILOT payments are no longer received pursuant to the town of Eagle wind project PILOT, the authority of the town under section 3 of this act shall terminate; and provided further that section 4 of this act shall take effect upon the final PILOT payment received by the town of Eagle under its wind project PILOT.

JUSTIFICATION: During the 2013-2014 fiscal year, the town of Eagle created a contingency and tax stabilization reserve fund pursuant to section 6-e of the general municipal law with the purpose of offsetting property taxes in the future once the town of Eagle wind project PILOT ends.

Currently, the town of Eagle receives $1 million of the total revenues associated with the wind project PILOT per year. Most of this money is used to completely cover all of the town's taxes. The town wants to put the remaining revenues into its contingency and tax stabilization reserve fund to offset property taxes once the wind project PILOT ends. Under current law, the town may only appropriate an amount up to ten percent of the eligible portion of the annual budget for the fiscal year for which the appropriation is made into the fund; this bill raises the appropriation amount to up to fifteen percent per year. Once PILOT payments are no longer received pursuant to the town of Eagle wind project PILOT, the town's authority to appropriate this amount will terminate.

The town of Eagle plans to use the money from its contingency and tax stabilization reserve fund to offset property taxes once the wind project PILOT ends. Under current law, the town is limited to how much money it may utilize from this fund each year to lessen or prevent any projected increase in property taxes. This bill authorizes the town of Eagle to utilize an amount up to fifty percent of any fiscal year's annual budget from the contingency and tax stabilization reserve fund to lessen or prevent any projected real property tax increase needed to finance the eligible portion of the annual budget for the next succeeding fiscal year. The town may expend this amount from such fund until it is wholly depleted or ten years after the effective date of this act, whichever occurs first.

This legislation is necessary to ameliorate the serious financial burden on the town of Eagle's property taxpayers that will result when the wind project PILOT ends. Since the revenues from the wind project PILOT currently cover all of the town's taxes, the end of the project will result in a sudden increase in property taxes that would be unmanageable for the town of Eagle's taxpayers. While the provisions under section 6-e of the general municipal law exist to ensure financial stability for municipalities, it is necessary to exempt the town of Eagle from certain provisions under this law for a limited period of time to allow the town to phase in the new property tax burden after its wind project PILOT ends.

LEGISLATIVE HISTORY: New bill.

FISCAL IMPLICATIONS: None to the state.

EFFECTIVE DATE: Immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 7050--A IN SENATE April 21, 2014 ___________
Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT in relation to the town of Eagle, county of Wyoming wind project THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings and intent. The legislature hereby finds that when the town of Eagle wind project PILOT ends, it will create a sudden gap in the town's tax revenues. As the current revenues from this project completely cover all of the town's taxes, the end of this project will create a serious financial burden on the town's prop- erty taxpayers. To ameliorate this burden, the legislature finds it necessary to exempt the town of Eagle from certain provisions of section 6-e of the general municipal law for a limited period of time to allow the town to phase in the new property tax burden. S 2. 1. It is hereby found and determined that the town of Eagle, county of Wyoming, exceeded its maximum appropriation for payment into the contingency and tax stabilization reserve fund pursuant to subdivi- sion 3 of section 6-e of the general municipal law where the balance of the fund exceeded ten percent of the eligible portion of the annual budget for fiscal year 2013-2014. 2. Notwithstanding the defects described in subdivision one of section two of this act, to the extent that the town of Eagle exceeded their maximum appropriation, such amounts are hereby legalized, validated, and ratified. S 3. Notwithstanding subdivision 3 and paragraph e of subdivision 4 of section 6-e of the general municipal law, the town of Eagle is hereby authorized to appropriate an amount up to fifteen percent of the eligi- ble portion of the annual budget for the fiscal year for which the appropriation would be made into the contingency and tax stabilization reserve fund. S 4. Notwithstanding paragraph d of subdivision 4 of section 6-e of the general municipal law, the town of Eagle is hereby authorized to
utilize an amount up to fifty percent of any fiscal year's annual budget from the contingency and tax stabilization reserve fund to lessen or prevent any projected real property tax increase needed to finance the eligible portion of the annual budget for the next succeeding fiscal year. This amount may be expended from such fund until such fund is wholly depleted or ten years after the effective date of this act, whichever occurs first. S 5. This act shall take effect immediately provided that once PILOT payments are no longer received pursuant to the town of Eagle wind project PILOT, the authority of the town of Eagle under section three of this act shall terminate; and, provided, further that section four of this act shall take effect upon the final PILOT payment received by the town of Eagle under the town of Eagle wind project PILOT.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Discuss!

blog comments powered by Disqus