§ 19-b. State aid; certain state-owned or reacquired lands. 1. State aid shall be payable to any municipal corporation or special district as such terms are defined by section one hundred two of the real property tax law and hereinafter collectively referred to in this section as "taxing authority", when on any assessment roll the taxable assessed valuation in such taxing authority is decreased in any year by reason of the transfer of title or possession of land or improvements thereon to the state or an agency of the state located at West Valley, Cattaraugus county and theretofore utilized by the corporation known as "Nuclear Fuel Services, Inc.".

2. The state aid payable to a taxing authority pursuant to this section shall be computed and paid during the first fiscal year of any such taxing authority commencing on or after January first, nineteen hundred eighty-one, and during each fiscal year thereafter. Such state aid shall in each year be equal to the amount of taxes levied or which would have been levied by or in behalf of the taxing authority against such lands and the improvements thereon on the last assessment roll finally completed in nineteen hundred eighty.

3. Such state aid shall be payable upon application to the state comptroller by the chief fiscal officer of the taxing authority which qualifies for aid pursuant to this section. The application shall be made on a form prescribed by such comptroller and shall contain such information as such comptroller shall require. On or before January fifteenth the comptroller, in consultation with the board of real property services and other agencies as may be appropriate, shall submit to the governor and the legislature an annual accounting of state aid paid pursuant to this section during the preceding and current fiscal years. Such accounting shall include, but not be limited to the number, type and amount of such payments, as well as an estimate of payments to be made during the remainder of the current fiscal year and during the following fiscal year.