Section 19-B. State aid; certain state-owned or reacquired lands

1. State
  aid shall be payable to any municipal corporation or special district as
  such terms are defined by section one hundred two of the  real  property
  tax  law  and  hereinafter  collectively  referred to in this section as
  "taxing authority", when on any assessment  roll  the  taxable  assessed
  valuation in such taxing authority is decreased in any year by reason of
  the  transfer  of title or possession of land or improvements thereon to
  the state or an agency of the state located at West Valley,  Cattaraugus
  county  and  theretofore  utilized  by the corporation known as "Nuclear
  Fuel Services, Inc.".
    2. The state aid payable  to  a  taxing  authority  pursuant  to  this
  section  shall  be computed and paid during the first fiscal year of any
  such taxing authority commencing on or  after  January  first,  nineteen
  hundred  eighty-one,  and during each fiscal year thereafter. Such state
  aid shall in each year be equal to the amount of taxes levied  or  which
  would  have  been levied by or in behalf of the taxing authority against
  such lands and the improvements thereon  on  the  last  assessment  roll
  finally completed in nineteen hundred eighty.
    3.  Such  state  aid  shall  be  payable upon application to the state
  comptroller by the chief fiscal officer of the  taxing  authority  which
  qualifies  for  aid  pursuant  to this section. The application shall be
  made on a form prescribed by such comptroller  and  shall  contain  such
  information  as  such  comptroller  shall  require. On or before January
  fifteenth the comptroller,  in  consultation  with  the  board  of  real
  property services and other agencies as may be appropriate, shall submit
  to  the  governor  and the legislature an annual accounting of state aid
  paid pursuant to this section during the preceding  and  current  fiscal
  years.  Such accounting shall include, but not be limited to the number,
  type and amount of such payments, as well as an estimate of payments  to
  be  made  during the remainder of the current fiscal year and during the
  following fiscal year.