Exempts payments in lieu of taxes for renewable energy projects from local governments' tax cap calculations.
This bill amends the general municipal law to exclude payments in lieu of taxes for renewable energy projects from local governments' tax cap calculations. It defines "renewable energy project" as a project for generating, distributing, or consuming renewable energy. The act takes effect immediately.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.