N.Y. State Finance Law § 54-c: Emergency financial aid to certain cities

* § 54-c. Emergency financial aid to certain cities. 1. Upon

certification by the commissioner of taxation and finance and in the

manner provided by law state assistance shall be paid during the month

of March, two thousand four and during the month of March, two thousand

five to each city having a population of less than one million and more

than one hundred twenty-five thousand, in an amount determined in

accordance with the following formula:

(a) The amount of aid shall be calculated by (i) determining the

percentage which the assessed valuation of real property both wholly and

partially exempt from taxation for general city non-school purposes only

bears to the assessed valuation of real property taxable for such

purpose on the latest assessment roll completed prior to January first,

nineteen hundred seventy-five; (ii) applying such percentage to the

assessed valuation of real property taxable for general city non-school

purposes on the latest assessment roll completed prior to January first

of the calendar year preceding the year during which the aid is paid;

(iii) applying to such amount the tax rate for general city non-school

purposes for the same tax year of such city for which the assessment

roll in subparagraph (ii) above was completed, and for the payments

during two thousand four and two thousand five only; (iv) applying to

the result in subparagraph (iii) above the ratio of the tax rate used in

the payment during June, nineteen hundred seventy-six to the tax rate

used in the payment due in June of the then current year.

(b) Provided, however, that the total amount of any appropriation for

such aid which may be less than the amounts otherwise required to be

paid shall be distributed and paid among all such cities in amounts

which are proportionate to the otherwise rightful entitlement to aid of

such cities pursuant to this section.

(c) Provided further that should the calculations in paragraphs (a)

and (b) of this subdivision apportion less than three and one-half

million dollars minimum aid to one or more cities, such cities shall

each receive such minimum aid and the remaining amount of the

appropriation shall be distributed in proportion to the entitlement

under paragraph (a) of this subdivision, exclusive of such cities.

(d) Provided further that the assessed valuations and tax rates as

defined in paragraph (a) of this subdivision shall be submitted by the

commissioner of taxation and finance to the respective city for official

certification prior to its use in determining the amount of aid.

2. Upon certification by the commissioner of taxation and finance and

in the manner provided by law, two million dollars of state assistance

shall be paid during the month of March, two thousand four and during

the month of March, two thousand five to each city having a population

of less than one hundred twenty-five thousand and more than ninety

thousand which has determined and certified that the percentage which

the assessed valuation of real property, both wholly and partially

exempt from taxation for general city non-school purposes, exceeds one

hundred per centum of the assessed valuation of taxable real property

for such purpose for the assessment roll completed prior to January

first, nineteen hundred seventy-six by such city.

3. Notwithstanding any inconsistent provision of law the amount

payable and distributable in each year pursuant to the provisions of

subdivision one of this section shall in no event exceed the sum of

twenty-eight million dollars and the amount payable and distributable in

each year pursuant to the provisions of subdivision two of this section

shall in no event exceed the sum of two million dollars.

4. The provisions of this section shall remain in force and effect

only until July tenth, two thousand five.

* NB Expired July 10, 2005