Bill

Bill > S07822


NY S07822

NY S07822
Extends from June 30, 2025 to June 30, 2027, the expiration of provisions of the town law relating to payments in lieu of taxes for property acquired for park or recreational purposes by the town of Hempstead.


summary

Introduced
05/09/2025
In Committee
06/12/2025
Crossed Over
06/17/2025
Passed
06/26/2025
Dead
Signed/Enacted/Adopted
06/26/2025

Introduced Session

2025-2026 General Assembly

Bill Summary

AN ACT to amend chapter 821 of the laws of 1970 amending the town law relating to payment in lieu of taxes for property acquired for park or recreational purposes by the town of Hempstead, in relation to the term of effectiveness of such chapter

AI Summary

This bill extends the expiration date of a specific town law related to payments in lieu of taxes (PILOT) for the town of Hempstead from June 30, 2025 to June 30, 2027. A PILOT agreement is a financial arrangement where a property owner, often a non-profit or government entity, makes payments to a local government in place of traditional property taxes. In this case, the law specifically covers properties acquired by the town of Hempstead for park or recreational purposes. The bill is essentially a technical amendment to chapter 821 of the laws of 1970, which originally established this PILOT provision. By extending the date to 2027, the town will continue to have the ability to make alternative tax payments for park and recreational land acquisitions for two more years. The bill will take effect immediately upon passage.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (1)

Last Action

SIGNED CHAP.178 (on 06/26/2025)

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