Overview
The Electric Generation Facility Cessation Mitigation Program was created to provide funding assistance to support counties, towns, cities, villages, school districts and special districts (“Local Government Entities”) that experience a reduction in the amount owed in real property taxes and/or PILOTs by an electric generating facility (the “Revenue Loss”). Under the Program, a Local Government Entity may receive annual funding over seven years. In each year for which an application is made, the Revenue Loss from the amount owed in the last year of operation must be 20% or greater and occur as a direct result of the electric generating facility ceasing operations.
Empire State Development administers the Program in consultation with the New York State Energy Research and Development Authority and the Department of Public Service.
As of April 2021, New York State has authorized a total of $140 million for the Program.