New York S05617 amends the state finance law to provide reimbursement for lost tax revenue due to toxic contamination.

New York S05617 amends the state finance law by adding a new section for reimbursement of lost tax revenue due to toxic contamination. This applies to municipalities in Rensselaer County affected by the Dewey Loeffel Landfill. Eligible municipalities can receive reimbursement for the difference between the actual valuation and the reduced assessed value of contaminated properties. Reimbursements are made annually following an application by the municipality's chief fiscal officer to the state comptroller.

New York S05617 amends the state finance law to provide reimbursement for lost tax revenue due to toxic contamination.

New York S05617 amends the state finance law by adding a new section for reimbursement of lost tax revenue due to toxic contamination. This applies to municipalities in Rensselaer County affected by the Dewey Loeffel Landfill. Eligible municipalities can receive reimbursement for the difference between the actual valuation and the reduced assessed value of contaminated properties. Reimbursements are made annually following an application by the municipality's chief fiscal officer to the state comptroller.