Laws of New York (Last Updated: November 21, 2014) |
ACA Arts and Cultural Affairs |
Title T. NATURAL HERITAGE TRUST |
Article 55. NATURAL HERITAGE TRUST |
Section 55.17. Payments in lieu of taxes
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The trust may, when funds are available and with the approval of the governor, enter into an agreement with a municipality or district within which real property has been acquired by the trust providing for the payment of moneys in lieu of anticipated tax revenues for a period not to exceed five years whenever the trust shall determine that undue hardship justifying such financial relief has been created by such acquisition.