Extends funding for local governments affected by electric generation facility closures for five more years.

New York A10949 extends funding to local governments affected by the cessation of electric generation facilities for an additional five years. The bill authorizes the urban development corporation to provide financial assistance to local governments, including counties, cities, towns, villages, school districts, and special districts, where an electric generating facility has ceased operations. This assistance is contingent upon available funding and is intended to mitigate the loss of real property tax collections or payments in lieu of taxes due to the facility's closure.

Extends funding for local governments affected by electric generation facility closures for five more years.

New York A10949 extends funding to local governments affected by the cessation of electric generation facilities for an additional five years. The bill authorizes the urban development corporation to provide financial assistance to local governments, including counties, cities, towns, villages, school districts, and special districts, where an electric generating facility has ceased operations. This assistance is contingent upon available funding and is intended to mitigate the loss of real property tax collections or payments in lieu of taxes due to the facility's closure.