2023 New York Laws › PBA - Public Authorities › Article 5 - Public Utility Authorities › Title 12 - New York State Environmental Facilities Corporation › 1296 - Exemption From Taxation; Payments in Lieu of Taxes.

§  1296.  Exemption  from  taxation;  payments in lieu of taxes. It is
hereby  found,  determined  and  declared  that  the  creation  of   the
corporation  and the carrying out of its purposes is in all respects for
the benefit of the  people  of  the  state  of  New  York  and  for  the
improvement  of  their  health,  welfare  and prosperity and is a public
purpose, and that  the  corporation  will  be  performing  an  essential
governmental function in the exercise of the powers conferred upon it by
this  title.  1.  Real property owned by the corporation shall be exempt
from taxation, special ad valorem levies and special assessments.
2. Real  property  owned  by  the  corporation  (1)  used  for  or  in
connection  with  any  project or projects, (2) which is located outside
the boundaries of the contracting municipality  or  municipalities,  and
(3) which was subject to taxation, special ad valorem levies, or special
assessments  on  the  latest assessment roll finally completed, verified
and filed preceding the date of acquisition thereof by  the  corporation
shall be subject to payments in lieu of taxes, special ad valorem levies
and  special  assessments  by  the  corporation  in  accordance with the
provisions of this section.
3. The in lieu payments shall be computed and determined  annually  by
the commissioner of taxation and finance as follows:
(a)  determine  the  full  value of such property as of the applicable
taxable status date for the assessment role for which in  lieu  payments
are being computed;
(b)  determine  the  full  value  of  such property as of such taxable
status date attributable to improvements constructed or reconstructed by
the corporation;
(c) deduct item (b) from item (a);
(d) multiply the full value determined in item (c)  by  the  ratio  of
assessed  value  to  full value of other property on the same assessment
roll;
(e) the result determined in item (d) shall be the  approved  assessed
valuation  for  such  property. The determinations of the full value and
the ratio of assessed value to full value shall  be  determined  by  the
commissioner.
4. Application for an approved assessed valuation shall be made by the
assessor  of  the  assessing unit within which such property is located.
Application shall be made as soon as practicable  after  acquisition  of
such  property  by  the  corporation. The application shall be made on a
form approved by the commissioner of  taxation  and  finance  and  shall
contain such information as such commissioner shall require.
5.   Upon  approval  of  such  application  by  the  commissioner  the
commissioner shall certify  such  approved  assessed  valuation  to  the
assessing  unit  and to the corporation. The approved assessed valuation
shall be entered  by  the  assessor  or  other  local  official  on  the
assessment  roll  with  the  notation  that such property is exempt from
taxation,  special  ad  valorem  levies  and  special  assessments   but
qualifies  for  payments in lieu of taxes, special ad valorem levies and
special assessments pursuant to  this  section.  The  approved  assessed
valuation  shall  be  treated  for  all  purposes  as  taxable  assessed
valuation and taxable full valuation on the assessment roll for which it
is made. Amounts  shall  be  extended  against  such  approved  assessed
valuation  in  the same manner and at the same time as taxes, special ad
valorem levies or  special  assessments  are  extended  against  taxable
property.  The appropriate collecting officer shall transmit a statement
of the amounts computed as payable as  in  lieu  of  taxes,  special  ad
valorem   levies   and  special  assessments  to  the  corporation.  The
provisions of any general or special law relating to the collection  and

enforcement  of taxes shall not be applicable to property subject to the
provisions of this section.
6.  The  terms  "taxation,"  "special  ad  valorem  levies,"  "special
assessments" and "assessing unit" shall have the same  meanings  as  set
forth in section one hundred two of the real property tax law.
7.  Notwithstanding  any provision to the contrary in this section, in
view of the costs of governmental  services  being  provided  by  public
corporations, as defined in the general corporation law, the corporation
may pay or may enter into agreements with any public corporation to pay,
a sum or sums, annually or otherwise, or to provide other considerations
to  such  public  corporation with respect to real property owned by the
corporation within the boundaries of such public  corporation  and  used
for any project or projects.
8.  The corporation shall be required to pay no fees or taxes, whether
state or local, including but not limited  to  fees  or  taxes  on  real
estate,  franchise taxes, sales taxes or other excise taxes, upon any of
its property, real or personal, or upon the use  thereof,  or  upon  its
activities  in the operation and maintenance of its facilities or on any
rentals, rates, charges or other fees, revenues or other income received
by the corporation and that the bonds and notes of the  corporation  and
the  income therefrom shall at all times be exempt from taxation, except
for gift and estate taxes and taxes on transfers. Nothing  contained  in
this  subdivision shall affect the obligation imposed by this section on
the corporation to make in lieu payments.
9. This section shall constitute a covenant  and  agreement  with  the
holders of all bonds and notes issued by the corporation.