New York Assembly Bill A05850 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 5850 2023-2024 Regular Sessions  IN ASSEMBLY March 23, 2023 ___________ Introduced by M. of A. LEVENBERG -- read once and referred to the Committee on Education AN ACT to amend the education law, in relation to providing a temporary exemption to limitations upon school district tax levies to certain school districts The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 2023-a of the education law is amended by adding a 2 new subdivision 10 to read as follows: 3 10. Notwithstanding any other provision of law to the contrary, a 4 school district with a payment in lieu of taxes agreement with a person, 5 firm, partnership, corporation, limited liability company or any other 6 business entity operating a nuclear power plant which suffers an expira- 7 tion of such agreement due to the closure of such nuclear power plant 8 shall be exempt from the levy limit restrictions established pursuant to 9 the provisions of this section for a period of eight years following the 10 expiration of such payment in lieu of taxes agreement, provided however, 11 that during such exemption period any increase in such school district's 12 tax levy from the prior school year shall not exceed four percent. 13 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09338-02-3