Thursday, March 31, 2016

NY state budget includes $30M for communities hurt by closing of power plants

SYRACUSE, N.Y. -- New York state will provide up to $30 million to communities that lose property tax revenue because an electric generating plant closes if the state Legislature approves a state budget bill printed Wednesday.

The state funding would be available for counties, cities, towns and school districts to replace property taxes paid by electric generating facilities that close on or after June 25, 2015, according to the budget bill.

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