New York A 9649: Creates an enhanced real property tax circuit breaker credit

Bill Text

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A09649 Summary:

BILL NOA09649 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORHevesi

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §102, RPT L; add §72-b, Pub Serv L

&nbsp

Exempts certain utilities from special franchise assessments in New York city; requires that any reduction in special franchise taxes imposed on ConEd and National Grid shall be passed-through to rates charged to its ratepayers so that the full economic benefit of such reduction accrues to their ratepayers.

Go to top A09649 Actions:

BILL NOA09649 

&nbsp

01/21/2026referred to real property taxation

03/02/2026enacting clause stricken

Go to topA09649 Committee&nbspVotes:

Go to topA09649 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA09649 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9649

 IN ASSEMBLY

 January 21, 2026
 ___________

 Introduced by M. of A. HEVESI -- read once and referred to the Committee
 on Real Property Taxation

 AN ACT to amend the real property tax law, in relation to the definition
 of special franchise property; and to amend the public service law, in
 relation to requiring any reduction of Consolidated Edison, Inc.'s or
 National Grid's tax burden to pass-through to its ratepayers

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision 17 of section 102 of the real property tax law,
 2 as amended by chapter 569 of the laws of 1996, is amended to read as
 3 follows:
 4 17. "Special franchise" means the franchise, right, authority or
 5 permission to construct, maintain or operate in, under, above, upon or
 6 through any public street, highway, water or other public place mains,
 7 pipes, tanks, conduits, wires or transformers, with their appurtenances,
 8 for conducting water, steam, light, power, electricity, gas or other
 9 substance. For purposes of assessment and taxation a special franchise
 10 shall include the value of the tangible property situated in, under,
 11 above, upon or through any public street, highway, water or other public
 12 place in connection therewith. The term special franchise shall not
 13 include central office equipment or station equipment (except public
 14 telephone terminal equipment) which first appears on assessment rolls
 15 prepared on the basis of taxable status dates occurring on or after
 16 October first, nineteen hundred ninety-five and which is owned by a
 17 telephone company as defined in paragraph (d) of subdivision twelve of
 18 this section, or owned by a telephone corporation as defined in subdivi-
 19 sion seventeen of section two of the public service law and certified by
 20 the public service commission under section ninety-nine of such law, nor
 21 shall it include property of a municipal corporation, public benefit
 22 corporation or special district, nor shall it include a crossing less
 23 than two hundred fifty feet in length of a public street, highway, water
 24 or other public place outside a city or village, unless such crossing be
 25 the continuation of an occupancy of another public street, highway,
 26 water or other public place. The term "special franchise" shall also

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14321-03-6

 A. 9649 2

 1 not include the value of any tangible property and appurtenances owned
 2 by Consolidated Edison, Inc. or National Grid which are located in a
 3 city with a population of one million or more.
 4 § 2. The public service law is amended by adding a new section 72-b to
 5 read as follows:
 6 § 72-b. Special franchise tax reductions; Consolidated Edison, Inc.
 7 and National Grid. Notwithstanding any other provision of law, any
 8 reduction in special franchise taxes imposed pursuant to article six of
 9 the real property tax law on Consolidated Edison, Inc. or to National
 10 Grid shall be reflected in rates charged to their ratepayers in a manner
 11 determined by the commission, including but not limited to a reduction
 12 in rates, a temporary or permanent rate credit, a refund or bill adjust-
 13 ment, or such other ratemaking treatment as the commission deems reason-
 14 able, so that the full economic benefit of such redu