N.Y. Public Authorities Law § 1020-q: Payments in lieu of taxes

* § 1020-q. Payments in lieu of taxes. 1. Each year after property

theretofore owned by LILCO is acquired by the authority by any means

authorized by this title and, as a consequence, is removed from the tax

rolls, the authority shall make payments in lieu of taxes to

municipalities and school districts equal to the taxes and assessments

which would have been received from year to year by each such

jurisdiction if such acquisition had not occurred, provided, however,

that for the calendar year starting on January first, two thousand

fifteen, and for each calendar year thereafter, such payments in lieu of

taxes shall not exceed the in lieu of tax payments made to such

municipalities and school districts in the immediately preceding year by

more than two percent.

2. The authority shall also make payments in lieu of taxes for those

taxes which would otherwise be imposed pursuant to sections one hundred

eighty-six-a and one hundred eighty-six-c of the tax law, and to former

section one hundred eighty-six-b of the tax law as such section was in

effect on December thirty-first, nineteen hundred ninety-nine, and any

taxes imposed by a city pursuant to the authorization granted by section

twenty-b of the general city law.

3. No municipality or governmental subdivision, including a school

district or special district, shall be liable to the authority or any

other entity for a refund of property taxes originally assessed against

the Shoreham plant. Any judicial determination that the Shoreham plant

assessment was excessive, unequal or unlawful for any of the years from

nineteen hundred seventy-six to the effective date of this title shall

not result in a refund by any taxing jurisdiction of taxes previously

paid by LILCO pursuant to such Shoreham plant assessment. The authority

shall discontinue and abandon all proceedings, brought by its

predecessor in interest, which seek the repayment of all or part of the

taxes assessed against the Shoreham plant.

* NB There are 2 § 1020-q's