Relates to payments in lieu of taxes; provides that the tax base growth factor or quantity change factor includes the change in assessed value for each property on the exempt side of the tax rolls under a payment in lieu of tax agreement; allows a local government or school district to elect to include the equivalent taxable value of property subject to a payment in lieu of taxes agreement in the calculation of its quantity change factor.
Enacts the "affordable clean energy (ACE) act"; exempts renewable energy systems from certain requirements related to energy facilities (Part A); directs the New York power authority to propose a minimum of two priority transmission projects to address the areas of highest need on the bulk transmission system (Part B); exempts payment in lieu of taxes revenue from property tax cap calculations (Part C).
Provides that in the siting of new electric transmission facilities, priority shall be given to major electric transmission facilities that are proposed to be sited in existing rights-of-way including those owned by an electric corporation or distribution utility, or by the state, including any subdivision thereof, or a state public authority, for state highway or transportation purposes, and railroad corridors.