2023 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