N.Y. State Finance Law 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:
Terms Used In N.Y. State Finance Law 54-C
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(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