Section 64-D. Payment in lieu of taxes for property acquired for open space purposes

The town of Southampton, Suffolk county, shall have the  power
  and  authority with respect to property acquired for open space purposes
  to pay or transfer out of any town funds available to it, annual sums in
  lieu of taxes to the affected taxing jurisdiction, in order that none of
  such taxing jurisdictions shall suffer an inequitable loss of revenue by
  virtue of such open space acquisition. The amount so paid or transferred
  for any year shall not exceed the sum last levied  for  the  benefit  of
  such  taxing jurisdiction as an annual tax on such property prior to the
  time of its acquisition for such purposes. As used in this section,  the
  term  "taxing  jurisdiction" means any municipal corporation or district
  corporation, including any school  district  or  any  special  district,
  having  the power to levy and collect taxes and benefit assessments upon
  real property or in whose behalf such taxes or benefit  assessments  may
  be  levied or collected. That the payments or transfers made pursuant to
  the power and authority granted herein with  respect  to  such  property
  shall  continue notwithstanding that the legislature of the state of New
  York may hereinafter alter, modify or  replace  the  current  method  of
  financing  of  public  education  and  notwithstanding  that  a court of
  competent  jurisdiction  may  hereinafter  order  that  such  method  of
  financing public education be altered, modified or replaced.