Millennium Can Transfer Passive Ownership Interest to Another New York County in Exchange for Property Tax Cuts

摘要

The Commission on 4/21/09 authorized Millennium Pipeline Co. LLC (CP98-150) to convey a passive ownership interest in its facilities to another Industrial Development Agency (IDA) - this time, Steuben County, New York, which will lease back the facilities so that Millennium can qualify for certain tax benefits. In August 2008, FERC authorized a similar arrangement with IDAs in five other New York State counties. (FNGR No. 2706, pp 19-20)