NY State Fin L § 54-C (2021)
2021 New York Laws STF - State Finance Article 4-A - State Assistance to Local Government 54-C - Emergency Financial Aid to Certain Cities.

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