New York Laws
Title 2 - Assessment and Taxation of Certain State Lands
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)