55.17 - Payments in Lieu of Taxes.

NY Arts & Cult Aff L § 55.17 (2019) (N/A)
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§ 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.