[Adopted 12-1-1997 by L.L. No. 7-1997]
The purpose of this article is to establish
a tax on the gross revenue of utilities doing business within the
Village which are subject to the supervision of the State Department
of Public Service and to implement § 5-530 of the Village
Law and the applicable provisions of § 186-a of the Tax
Law.
Every utility doing business in the Village
which is subject to the supervision of the State Department of Public
Service shall pay to the Village on or before March 15 of each year
a tax of one per centum of the gross income or gross operating income
of the utility for the preceding year ending December 31 in accordance
with § 5-530 of the Village Law and any amendments thereto
and the applicable provisions of § 186-a of the Tax Law
and any amendments thereto.
The substantive and procedural requirements
prescribed by Village Law § 5-530 and any amendments thereto,
and, to the extent applicable, the provisions of § 186-a
of the Tax Law and any amendments thereto, are expressly incorporated
into this article.
The effective date of this article shall be
the date of filing with the Secretary of State and its applicability
shall be retroactive to January 1, 1997.
