School leaders warn of $25 million deficit tied to Indian Point shutdown
Since its closure in 2021, district leaders and community members have relied on the state's cessation mitigation fund for providing supplemental financial assistance.
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Elected and school officials gathered at Buchanan-Verplanck Elementary School on Tuesday to announce the next steps for communities impacted by Indian Point's closure.
When Indian Point was in operation, its funding made up nearly a quarter of the Hendrick Hudson School District's entire operating budget.
Tuesday coverage
Since its closure in 2021, district leaders and community members have relied on the state's cessation mitigation fund for providing supplemental financial assistance.
The current fund ends in 2028.
Elected officials say that if the bill is signed into law, it would provide funds for an additional five years.
"This will allow the school district, the village, the town and the county more time to plan to offset those losses," said state Sen. Pete Harckham.
The closure of Indian Point resulted in the district losing around $25 million in annual funding.
Superintendent Michael Tromblee urged Gov. Kathy Hochul to sign the bill and for elected officials to look into new opportunities for the closed plant.
"It's storing a large amount of nuclear waste that's in our backyard. We do have the ability--there are laws out there, bills that are proposed to be able to tax that spent nuclear fuel that would provide, if we do our calculations right, about $30 million per year," said Tromblee.
He says that would help to close the revenue gap that was left behind from Indian Point's closure.
As for now, however, various elected and district officials agreed that the next course of action will depend on the governor.
In a statement, the state's Public Service Commission told News 12 it does not comment on pending legislation.
The governor’s office says it will “review if a bill passes both houses of the Legislature.”
