senate Bill S1910

Relates to the recovery of governmental costs from industrial development agencies

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 14 / Jan / 2011
    • REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
  • 04 / Jan / 2012
    • REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

Summary

Relates to the recovery of governmental costs from industrial development agencies.

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Bill Details

Versions:
S1910
Legislative Cycle:
2011-2012
Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Rpld ยง2975-a, Pub Auth L
Versions Introduced in 2009-2010 Legislative Cycle:
S6962A

Sponsor Memo

BILL NUMBER:S1910

TITLE OF BILL:
An act
in relation to the recovery of state governmental costs from
industrial development agencies; and
to repeal section 2975-a of the public authorities law relating thereto

PURPOSE OR GENERAL IDEA OF BILL:
This bill would repeal section 2975-a
of the public authorities law that allows the state to seek recovery
of governmental costs from industrial development agencies.

JUSTIFICATION:
This bill repeals section 2975-a of the public
authorities law. Under this section, the New York State Department of
Taxation and Finance is authorized to seek reimbursement from IDA's
for supposed state costs attributable to our IDA's.

Often times, the IDA is one of the only economic development tools
that counties have to offer companies that are looking to expand or
relocate here. So, for the state to begin assessing charges on IDA's
would harm their ability to promote economic development and tax base
expansion. To that end, this bill recognizes that by repealing this
unneeded fee on economic development.

PRIOR LEGISLATIVE HISTORY:
S.6962A of 2009-2010

FISCAL IMPLICATIONS:
Section 2975-a allows for recovery from IDA's of
up to $5 million.

EFFECTIVE DATE:
Immediately, with provisions.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1910

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 14, 2011
                               ___________

Introduced  by  Sens.  VALESKY, ADAMS -- read twice and ordered printed,
  and when printed to be committed to  the  Committee  on  Corporations,
  Authorities and Commissions

AN  ACT  in  relation  to  the recovery of state governmental costs from
  industrial development agencies; and to repeal section 2975-a  of  the
  public authorities law relating thereto

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 2975-a of the public authorities law is REPEALED.
  S 2. All monies paid by or on behalf  of  any  industrial  development
agency or authority to reimburse to New York state an allocable share of
state  governmental  costs  attributable to the provision of services to
industrial development agencies as determined in section 2975-a  of  the
public  authorities  law shall be reimbursed to the paying entity within
ninety days of the effective date of this act.
  S 3. This act shall take effect immediately and  shall  be  deemed  to
have been in full force and effect on and after April 1, 2010.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06460-01-1

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