N.Y. County Law § 233-b: Payment in lieu of taxes for property acquired for park or recreational purposes

* § 233-b. Payment in lieu of taxes for property acquired for park or

recreational purposes. The county of Nassau having acquired certain

property for park or recreational purposes in the Lido Beach-Point

Lookout area shall have the power and authority with respect to such

property, to pay or transfer out of any county funds available to it,

annual sums in lieu of taxes to the affected taxing jurisdictions, in

order that none of such taxing jurisdiction shall suffer an inequitable

loss of revenue by virtue of such park or recreational program; provided

further, that the amount so paid or transferred for any year shall not

exceed the sum last levied for the benefit of such taxing jurisdiction

as an annual tax on such property prior to the time of its acquisition

for such purpose or purposes.

As used in this section, the term "taxing jurisdiction" means any

municipal corporation or district corporation, including any school

district or any special district, having the power to levy and collect

taxes and benefit assessments upon real property in the Lido Beach-Point

Lookout area, or in whose behalf such taxes or benefit assessments may

be levied or collected.

* NB Expires July 1, 2030