longisland

The IRS has approved a critical state contract that allows LIPA to keep its tax-exempt status. The ruling will allow PSEG Long Island to take control of LIPA overnight on Dec. 31.

In July, the state struck a deal with PSEG that allows the private organization to fully manage LIPA's operations. Gov. Andrew Cuomo says LIPA will function as a financial holding company.

The PSEG deal was contingent on a favorable IRS ruling.

LIPA is expected to have about 50 employees after the transition - about 30 more than Cuomo originally expected.

Cuomo says he's hopeful that number will decrease after the transition of power takes place.

The IRS has approved a critical state contract that allows LIPA to keep its tax-exempt status. The ruling will allow PSEG Long Island to take control of LIPA overnight on Dec. 31.    In July, the state

Long Island

LI | Weather

RTLIWeather12092023KEllis10pm_2023-12-09-23-05-12

Let's turn our attention now to our weather as we remain on storm watch because we have a serious storm heading our way. We're over here in the weather center with meteorologist Crystal Ellis. So, Crystal, what do people need to know about the exact timing here for this? Uh, the worst of it's going to be tomorrow night into the evening, late evening into tomorrow. The overnight hours. That's when we're going to see the worst wind gusts and the most widespread heaviest rainfall. But that doesn't mean before then we won't be experience some turbulent weather. So looking at our storm watch, we do have a high wind watch and a flood watch. 2 to 4 inches of rain could see even more than that in localized areas. So that will lead to flooding. You definitely want to try to stay home if you can for tomorrow. The winds also between 25 and 4540 MPH sustained gusting to 55 even 60 MPH for tomorrow. So that actually could lead to dangerous wind, damaging winds and uh down trees down power lines. So you definitely want to be weather aware for tomorrow, as we look into tomorrow afternoon, the winds start to pick up a little bit and we'll have some scattered downpours throughout the area as we step into the afternoon. Those downpours again, wherever they set up, that's where we'll have the most rainfall falling and check out the winds gusting up to 3035 MPH throughout the area. And this is around 4 p.m. and that's not even the worst of it as we keep going on. The future cast, you can see the rain is just training on in. It's continuing to come down in heavy bouts in the, in the red, orange and yellow shades and the wind is not going anywhere as well. In fact, it's going to be increasing as we step into the later hours. So here we are 11 pm, wind gusts 47 MPH in Smithtown, 47 Rocky Point and the rain continues to fall. So it's going to be a pretty serious storm for tomorrow. And then in your overnight hours, this is where we're seeing the worst of the wind gusts 52 in Rocky Point. And again, depending on where these fans set up will be the worst of the flooding potential. Looking at your Monday morning, it's still hanging on the winds eventually will calm down. And so does the rain. However, we will have a if you wrap around showers for Monday morning and blustery conditions for the second half of your Monday. So we are on storm watch Sunday afternoon, Sunday night and into your Monday morning before things begin to calm down, it gets colder, the wind sticks around and it's feeling like much more typical December weather highs in the forties for the rest of the work week. But at least it's quiet.

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IRS approves contract that allows LIPA to keep its tax-exempt status