New York S 9876: Authorizes funding to local government entities from the urban development corporation

Bill Text

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S09876 Summary:

BILL NOS09876 

&nbsp

SAME ASSAME AS A03626

&nbsp

SPONSORWEBB

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd Part C Subpart H §1, Chap 20 of 2015

&nbsp

Authorizes funding to local government entities from the urban development corporation through the electric generation facility cessation mitigation fund for an additional three years.

Go to top S09876 Actions:

BILL NOS09876 

&nbsp

04/09/2026REFERRED TO LOCAL GOVERNMENT

Go to topS09876 Committee&nbspVotes:

Go to topS09876 Floor&nbspVotes:

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

Go to topS09876 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9876

 IN SENATE

 April 9, 2026
 ___________

 Introduced by Sen. WEBB -- read twice and ordered printed, and when
 printed to be committed to the Committee on Local Government

 AN ACT to amend subpart H of part C of chapter 20 of the laws of 2015,
 relating to appropriating money for certain municipal corporations and
 school districts, in relation to authorizing funding to local govern-
 ment entities from the urban development corporation

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

 1 Section 1. Section 1 of subpart H of part C of chapter 20 of the laws
 2 of 2015, relating to appropriating money for certain municipal corpo-
 3 rations and school districts, as amended by section 1 of part XX of
 4 chapter 55 of the laws of 2021, is amended to read as follows:
 5 Section 1. Contingent upon available funding, and not to exceed
 6 $140,000,000 moneys from the urban development corporation shall be
 7 available for a local government entity, which for the purposes of this
 8 section shall mean a county, city, town, village, school district or
 9 special district, where (i) on or after June 25, 2015, an electric
 10 generating facility located within such local government entity has
 11 ceased operations, and (ii) the closing of such facility has caused a
 12 reduction in the real property tax collections or payments in lieu of
 13 taxes of at least twenty percent owed by such electric generating facil-
 14 ity. Such moneys attributable to the cessation of operations, shall be
 15 paid annually on a first come, first served basis by the urban develop-
 16 ment corporation to such local government entity within a reasonable
 17 time upon confirmation from the state office of real property tax
 18 services or the local industrial development authority established
 19 pursuant to titles eleven and fifteen of article eight of the public
 20 authorities law, or the local industrial development agency established
 21 pursuant to article eighteen-A of the general municipal law that such
 22 cessation has resulted in a reduction in the real property tax
 23 collections or payments in lieu of taxes, provided, however, that the
 24 urban development corporation shall not provide assistance to such local
 25 government entity for more than [seven] ten years, and shall award

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02460-01-5

 S. 9876 2

 1 payments reflecting the loss of revenues due to the cessation of oper-
 2 ations as follows:

 3 Award Year Maximum Potential Award
 4 1 no more than eighty percent of loss of revenues
 5 2 no more than seventy percent of loss of revenues
 6 3 no more than sixty percent of loss of revenues
 7 4 no more than fifty percent of loss of revenues
 8 5 no more than forty percent of loss of revenues
 9 6 no more than thirty percent of loss of revenues
 10 7 no more than twenty percent of loss of revenues
 11 8 no more than twenty percent of loss of revenues
 12 9 no more than twenty percent of loss of revenues
 13 10 no more than twenty percent of loss of revenues

 14 A local government entity shall be eligible for only one payment of
 15 funds hereunder per year. A local government entity may seek assistance
 16 under the electric generation facility cessation mitigation fund once a
 17 generator has submitted its notice to the federally designated electric
 18 bulk system operator (BSO) serving the state of New York of its intent
 19 to retire the facility or of its intent to voluntarily remove the facil-
 20 ity from service