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Legislative Memo

Darren Suarez
Director of Government Affairs
T 518.465.7511
www.bcnys.org

BILL:

A.9380 Galef Same as S.6660-A  Ritchie

  Support

SUBJECT:

Extension of local option tax exemption for electric generating facilities

 

A.9380 Galef Same as
S.6660-A  Ritchie

DATE:

May 5, 2014

 

The Business Council of New York State, whose membership includes numerous member firms, as well as over one hundred chambers of commerce and professional trade associations, has reviewed the above mentioned legislation and supports its enactment.

This legislation extends a provision of current law which authorizes a local option for municipalities to enter into negotiations with the nuclear power plant owners to establish equitable PILOT agreements.

The current law has effectively nullified fluctuations in facility assessments as well as decease the possibility of assessment challenges. The current law has provided for a certainty due thus averting potential wild swings in tax collections which can result in dramatic shifts in local tax rates.

For the above mentioned reasons The Business Council of New York State, Inc. supports the above referenced legislation and seeks its passage.