N.Y. Real Property Tax Law § 546: State aid; loss of certain public utility property

§ 546. State aid; loss of certain public utility property. 1. State

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

seven of this section, when on any assessment roll the taxable assessed

valuation in such district is decreased in any year by an amount equal

to or in excess of ten percent of the total taxable assessed valuation

on the latest preceding assessment roll because of the removal from such

assessment roll of taxable real property of a public utility company, as

defined in section two of the public service law, as a direct or

indirect consequence of the surrender of any license, franchise, permit

or authorization of such utility company where the undertaking or

entering into of any project, operation, activity or contract actually

undertaken or entered into by the state or any state agency or any

authority or commission created or continued under the public

authorities law is by any law or regulation of this state or of the

United States specifically conditioned upon such surrender.

2. The state aid payable to a tax district in the first year in which

there is a decrease in taxable assessed valuation as a result of the

removal from the assessment roll described in subdivision one of this

section shall be equal to eighty per cent of the total amount of taxes

which would have been levied on the assessed valuation so removed at the

tax rate for the year preceding such removal, from which state aid shall

be subtracted an amount equal to the amount of taxes which would have

been levied at the tax rate for the preceding year on the excess of (i)

the total taxable assessed valuation of the new property assessed on the

assessment roll on which the decrease in assessed valuation occurs over

(ii) one percent of the total assessed valuation of taxable property on

the latest preceding assessment roll. In the next three succeeding years

state aid payable to such tax district shall be equal to sixty per cent,

forty per cent and twenty per cent, respectively, of the total amount of

taxes which would have been levied on the assessed valuation removed as

described in subdivision one of this section at the tax rate for the

year preceding such removal from which state aid shall be subtracted an

amount equal to the amount of taxes which would have been levied at the

tax rate for the latest preceding year on the excess of (i) the total

taxable assessed valuation of the new property assessed on the

assessment roll on which taxes are levied for the fiscal year in which

the aid is payable over (ii) one percent of the total assessed valuation

of taxable property on the assessment roll preceding the removal from

the assessment roll described in subdivision one of this section

multiplied by the number of fiscal years for which the tax district has

received state aid under this section including the then current year.

3. In the case of a school district, the state aid payable under this

section shall be reduced by an amount equal to the amount of additional

state aid which is payable to such school district under any other laws

directly or indirectly as a result of the decrease in full valuation

caused by the removal from the assessment roll described in subdivision

one of this section.

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

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

assessment.

5. 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.

6. The term "new property" as used in this section shall mean the real

property which was assessed as taxable on the assessment roll used for

the levy of taxes for a fiscal year for which state aid is payable under

this section and which was not assessed as taxable real property on the

assessment roll of the tax district next preceding the assessment roll

affected by the removal from the assessment roll described in

subdivision one of this section.

7. The term "tax district" shall mean a county, a city and a city

school district located in a city qualifying for state aid under the

provisions of this section.

8. Notwithstanding the foregoing subdivisions of this section, state

aid shall be payable as hereinafter provided to any school district

located wholly or partly within a city of less than one hundred

twenty-five thousand population, where on any assessment roll prepared

prior to the effective date of this subdivision the taxable assessed

valuation in such district has been decreased by an amount equal to or

in excess of eight percent of the total taxable assessed valuation on

the assessment roll next preceding such roll because of the removal of

taxable real property of a public utility company, as defined in section

two of the public service law, as a direct or indirect consequence of

the acquisition of such property by the state or an agency of the state

or of the surrender of any license, franchise, permit or authorization

of such utility company where the undertaking or entering into of any

project, operation, activity or contract actually undertaken or entered

into by the state or any state agency or any authority or commission

created or continued under the public authorities law is by any law or

regulation of this state or of the United States specifically

conditioned upon such surrender. Such state aid shall be payable on

application of the chief fiscal officer of such school district in the

second, third, fourth and fifth school fiscal years following the last

fiscal year for which a transition assessment was established pursuant

to section five hundred forty-five of the real property tax law. The

amount of such state aid payable in each of such years shall be forty

percent of the amount of state aid paid in the first year of eligibility

to such school district under the provisions of section five hundred

forty-five of the real property tax law. Upon approval of the

application by the commissioner the commissioner shall certify to the

state comptroller the amount of payment computed pursuant to the

provisions of this subdivision and such amounts shall be paid upon audit

and warrant by the state comptroller out of moneys appropriated by the

legislature for the payment of taxes on state-owned lands.

* 9. Notwithstanding the foregoing subdivisions of this section, state

aid shall be payable as hereinafter provided to a city of less than one

hundred twenty-five thousand population, where on any assessment roll

prepared prior to the effective date of this subdivision the taxable

assessed valuation in such city has been decreased by an amount equal to

or in excess of eight percent of the total taxable assessed valuation on

the assessment roll next preceding such roll because of the removal of

taxable real property of a public utility company, as defined in section

two of the public service law, as a direct or indirect consequence of

the acquisition of such property by the state or an agency of the state

or of the surrender of any license, franchise, permit or authorization

of such utility company where the undertaking or entering into of any

project, operation, activity or contract actually undertaken or entered

into by the state or any state agency or any authority or commission

created or continued under the public authorities law is by any law or

regulation of this state or of the United States specifically

conditioned upon such surrender. Such state aid shall be payable on

application of the chief fiscal officer of such city in the fourth and

fifth city fiscal years following the last fiscal year for which a

transition assessment was established pursuant to section five hundred

forty-five of the real property tax law. The amount of such state aid

payable in each of such years shall be forty percent of the amount of

state aid paid in the first year of eligibility to such city under the

provisions of section five hundred forty-five of the real property tax

law. Upon approval of the application by the commissioner the

commissioner shall certify to the state comptroller the amount of

payment computed pursuant to the provisions of this subdivision and such

amounts shall be paid upon audit and warrant by the state comptroller

out of moneys appropriated by the legislature for the payment of taxes

on state-owned lands.

* NB (Applicable only to city fiscal years commencing 1/1/72 and

1/1/73)