Statute · New York Arts and Cultural Affairs Law
N.Y. Arts & Cult. Aff. Law § 55.17 — Payments in lieu of taxes
N.Y. Arts & Cult. Aff. Law § 55.17
- Type
- Statute
- Source
- New York Arts and Cultural Affairs Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 55.17. Payments in lieu of taxes. 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…
Citator
N.Y. Arts & Cult. Aff. Law § 55.17 — Payments in lieu of taxes is in force in the current edition of the Code, and nothing recorded condemns it.
§ 55.17. Payments in lieu of taxes. 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.