N.Y.
Public Authorities Law Section 1020-Q
Payments in lieu of taxes
1.
Each year after property theretofore owned by LILCO is acquired by the authority by any means authorized by this title and, as a consequence, is removed from the tax rolls, the authority shall make payments in lieu of taxes to municipalities and school districts equal to the taxes and assessments which would have been received from year to year by each such jurisdiction if such acquisition had not occurred, provided, however, that for the calendar year starting on January first, two thousand fifteen, and for each calendar year thereafter, such payments in lieu of taxes shall not exceed the in lieu of tax payments made to such municipalities and school districts in the immediately preceding year by more than two percent.2.
The authority shall also make payments in lieu of taxes for those taxes which would otherwise be imposed pursuant to sections one hundred eighty-six-a and one hundred eighty-six-c of the tax law, and to former section one hundred eighty-six-b of the tax law as such section was in effect on December thirty-first, nineteen hundred ninety-nine, and any taxes imposed by a city pursuant to the authorization granted by General City Law § 20-B (Cities authorized to impose taxes on utilities)section twenty-b of the general city law.3.
No municipality or governmental subdivision, including a school district or special district, shall be liable to the authority or any other entity for a refund of property taxes originally assessed against the Shoreham plant. Any judicial determination that the Shoreham plant assessment was excessive, unequal or unlawful for any of the years from nineteen hundred seventy-six to the effective date of this title shall not result in a refund by any taxing jurisdiction of taxes previously paid by LILCO pursuant to such Shoreham plant assessment. The authority shall discontinue and abandon all proceedings, brought by its predecessor in interest, which seek the repayment of all or part of the taxes assessed against the Shoreham plant. * NB There are 2 § 1020-q’s
Source:
Section 1020-Q — Payments in lieu of taxes, https://www.nysenate.gov/legislation/laws/PBA/1020-Q (updated Sep. 22, 2014; accessed May 18, 2024).
