Authorizes funding to local government entities from the urban development corporation
Summary
This bill amends a 2015 appropriation law to expand and extend a state mitigation program for local governments affected by the closure of electric generating facilities. It authorizes up to $140 million from the Urban Development Corporation to be paid to counties, cities, towns, villages, school districts, and special districts that lose at least 20% of real property tax collections or PILOT payments because a generating facility within their borders ceased operations on or after June 25, 2015.
The bill lengthens the maximum duration of assistance from seven years to twelve years and revises the payment schedule so that eligible local governments may continue to receive annual payments, with the award amount tied to the difference between the facility’s last year of tax/PILOT payments and current collections. The program remains first-come, first-served, requires confirmation from the Department of Public Service and the state’s bulk system operator, and limits each local government entity to one payment per year. It also clarifies that assistance begins only after the facility has retired or become ineligible to participate in the relevant electricity markets.
Impact
The bill would amend state law governing the electric generation facility cessation mitigation fund, increasing the period during which local governments may receive aid and adjusting the award schedule to cover a longer phase-out period. It affects the Urban Development Corporation’s authority to distribute state funds, as well as the procedures used by the Department of Public Service, local industrial development authorities/agencies, and the state office of real property tax services to verify eligibility and calculate losses. Local governments that rely on property tax revenue from retired power plants would be the primary beneficiaries.
Sentiment
The available context suggests a generally supportive posture toward the bill, as it is a targeted fiscal relief measure for communities facing sudden revenue losses from power plant closures. No committee transcript or recorded vote is provided, so there is no direct evidence of opposition or debate in the supplied materials. The bill’s placement on the Assembly Floor Calendar indicates it advanced beyond introduction and committee referral.
Contention
The main policy issue is the scope and duration of state aid: the bill extends support from seven to twelve years and continues payments at a reduced percentage over time, which may raise questions about the appropriate length and size of state assistance. Another potential point of contention is the use of Urban Development Corporation funds for local tax-revenue replacement, especially given the $140 million cap and the first-come, first-served structure. No specific opposing arguments or named critics are included in the provided record.
Same As
Authorizes funding to local government entities from the urban development corporation through the electric generation facility cessation mitigation fund for an additional five years.
Authorizes funding to local government entities from the urban development corporation through the electric generation facility cessation mitigation fund for an additional three years.
Authorizes funding to local government entities from the urban development corporation through the electric generation facility cessation mitigation fund for an additional five years.
Authorizes funding to local government entities from the urban development corporation through the electric generation facility cessation mitigation fund for an additional three years.
Authorizes funding to local government entities from the urban development corporation through the electric generation facility cessation mitigation fund for an additional three years.