Provides that a capital tax levy shall not be included within the definition of "tax levy limit"; defines "capital local expenditures" and "capital tax levy".
Requires the refund of certain excess school taxes collected by school districts located within Rockland County resulting from erroneous tax levy increases for the 2024--2025 school tax levy.
Provides that the tax levy limit shall be equal to a zero percent increase over the prior year tax levy when the difference between the total amount of taxes levied for the prior year less the tax levy limit results in a negative number.
Provides that the tax levy limit shall be equal to a zero percent increase over the prior year tax levy when the difference between the total amount of taxes levied for the prior year less the tax levy limit results in a negative number.
Requires that any proposed capital expenditure to be considered in any matter affecting a major change in rates must be described by the utility on a per project basis and shall include the purpose and the need for each capital expenditure, total cost, and benefits to the ratepayers and the operation of the distribution system, and shall be posted on the PSC website.
Requires that any proposed capital expenditure to be considered in any matter affecting a major change in rates must be described by the utility on a per project basis and shall include the purpose and the need for each capital expenditure, total cost, and benefits to the ratepayers and the operation of the distribution system, and shall be posted on the PSC website.
Suspends the corporation franchise tax levied on certain taxable capital and suspends the initial corporation franchise tax levied on certain entities (Item #16) (EG -$10,200,000 GF RV See Note)