N.Y. Real Property Tax Law § 545-a: State aid; certain lands in Suffolk county

§ 545-a. State aid; certain lands in Suffolk county. 1. State aid

shall be payable to any tax district, as defined in subdivision five of

this section when on any assessment roll the taxable assessed valuation

in such district is reduced by a taking of previously taxable property

by the state or any agency thereof.

2. The state aid payable to a tax district as defined in subdivision

five of this section shall be equal to one hundred percent of the total

amount of taxes which were levied on the assessed valuation so removed

from the assessment roll in the year immediately preceding such removal.

Said payments shall be made for five years immediately succeeding the

effective date of this section. In the next three succeeding years,

state aid payable to such tax district shall be equal to seventy-five

percent, fifty percent and twenty-five percent, respectively, of the

total amount of taxes which were levied on the assessed valuation

removed from the assessment roll for the year preceding such removal.

3. In making computations and determinations pursuant to this section,

there shall be taken into account increases or decreases in the level of

assessment.

4. The chief fiscal officer of a tax district which qualifies for

state aid pursuant to this section shall make application therefor to

the commissioner. The application shall be made on a form prescribed by

such commissioner and shall contain such information as the commissioner

shall require. Upon approval of the application therefor by the

commissioner, such state aid shall be paid upon audit and warrant by the

state comptroller.

5. The term "tax district" shall mean a school district located within

the county of Suffolk wherein real property was taken by the department

of environmental conservation by deeds recorded on the sixteenth day of

October and the twenty-ninth day of November, nineteen hundred

seventy-eight.