N.Y. STF Law § 54-C — New York Code / Act STF / Article 4-A / Section 54-C
Emergency financial aid to certain cities
Status: in_force

* § 54-c. Emergency financial aid to certain cities. 1. Upon\ncertification by the commissioner of taxation and finance and in the\nmanner provided by law state assistance shall be paid during the month\nof March, two thousand four and during the month of March, two thousand\nfive to each city having a population of less than one million and more\nthan one hundred twenty-five thousand, in an amount determined in\naccordance with the following formula:\n  (a) The amount of aid shall be calculated by (i) determining the\npercentage which the assessed valuation of real property both wholly and\npartially exempt from taxation for general city non-school purposes only\nbears to the assessed valuation of real property taxable for such\npurpose on the latest assessment roll completed prior to January first,\nnineteen hundred seventy-five; (ii) applying such percentage to the\nassessed valuation of real property taxable for general city non-school\npurposes on the latest assessment roll completed prior to January first\nof the calendar year preceding the year during which the aid is paid;\n(iii) applying to such amount the tax rate for general city non-school\npurposes for the same tax year of such city for which the assessment\nroll in subparagraph (ii) above was completed, and for the payments\nduring two thousand four and two thousand five only; (iv) applying to\nthe result in subparagraph (iii) above the ratio of the tax rate used in\nthe payment during June, nineteen hundred seventy-six to the tax rate\nused in the payment due in June of the then current year.\n  (b) Provided, however, that the total amount of any appropriation for\nsuch aid which may be less than the amounts otherwise required to be\npaid shall be distributed and paid among all such cities in amounts\nwhich are proportionate to the otherwise rightful entitlement to aid of\nsuch cities pursuant to this section.\n  (c) Provided further that should the calculations in paragraphs (a)\nand (b) of this subdivision apportion less than three and one-half\nmillion dollars minimum aid to one or more cities, such cities shall\neach receive such minimum aid and the remaining amount of the\nappropriation shall be distributed in proportion to the entitlement\nunder paragraph (a) of this subdivision, exclusive of such cities.\n  (d) Provided further that the assessed valuations and tax rates as\ndefined in paragraph (a) of this subdivision shall be submitted by the\ncommissioner of taxation and finance to the respective city for official\ncertification prior to its use in determining the amount of aid.\n  2. Upon certification by the commissioner of taxation and finance and\nin the manner provided by law, two million dollars of state assistance\nshall be paid during the month of March, two thousand four and during\nthe month of March, two thousand five to each city having a population\nof less than one hundred twenty-five thousand and more than ninety\nthousand which has determined and certified that the percentage which\nthe assessed valuation of real property, both wholly and partially\nexempt from taxation for general city non-school purposes, exceeds one\nhundred per centum of the assessed valuation of taxable real property\nfor such purpose for the assessment roll completed prior to January\nfirst, nineteen hundred seventy-six by such city.\n  3. Notwithstanding any inconsistent provision of law the amount\npayable and distributable in each year pursuant to the provisions of\nsubdivision one of this section shall in no event exceed the sum of\ntwenty-eight million dollars and the amount payable and distributable in\neach year pursuant to the provisions of subdivision two of this section\nshall in no event exceed the sum of two million dollars.\n  4. The provisions of this section shall remain in force and effect\nonly until July tenth, two thousand five.\n  * NB Expired July 10, 2005\n