Bill > S04843

This bill authorizes additional state aid for a specific city that hosts the W. Averell Harriman State Office Building Campus in New York. Under the proposed legislation, the city will receive annual state aid equal to 1.75 percent of the aggregate assessed values of the state office building project, based on its 2009 assessment roll. The payments will begin on June 1, 2025, and continue for ten years. The city's assessments for these properties will remain fixed at their 2009 total assessed values of $663,950,900 and $10,419,600, respectively. If the state sells any portion of the property during this period, the sale price will be deducted from the assessed value on the subsequent assessment roll, which will then become the new basis for calculating the annual payment. These payments are designated for city purposes only, providing a financial benefit to the local government hosting the state office building complex.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S4843