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What was the rationale for LIPA forgiving approximately half of the Overtaxation?

April 26, 2017approximately forgiving Half LIPA overtaxation rationale

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What was the rationale for LIPA forgiving approximately half of the Overtaxation?

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LIPA recognized that if the Settlement were collected from the Suffolk Taxing Jurisdictions for the full amount, there would be a significant financial impact which would seriously harm Suffolk County and the Suffolk County taxing jurisdictions involved and increased property taxes.