S T A T E O F N E W Y O R K
2013-2014 Regular Sessions
I N S E N A T E
January 22, 2013
Introduced by Sen. BALL -- read twice and ordered printed, and when
printed to be committed to the Committee on Commerce, Economic Devel-
opment and Small Business
AN ACT to amend the economic development law, in relation to requiring
recipients of economic development assistance to fully disclose the
prerequisites for such assistance and their compliance therewith
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The economic development law is amended by adding a new
article 21 to read as follows:
ECONOMIC DEVELOPMENT ASSISTANCE DISCLOSURE
SECTION 450. DEFINITIONS.
S 450. DEFINITIONS. AS USED IN THIS ARTICLE:
(A) "ECONOMIC DEVELOPMENT ASSISTANCE" MEANS:
(1) TAX CREDITS AND TAX EXEMPTIONS GIVEN AS INCENTIVES TO A RECIPIENT
PURSUANT TO A DEVELOPMENT ASSISTANCE AGREEMENT; AND
(2) ANY OTHER PROGRAM OR INCENTIVE INTENDED TO PROMOTE AND ENSURE A
BUSINESS RELOCATION OR EXPANSION.
(B) "ECONOMIC DEVELOPMENT ASSISTANCE AGREEMENT" MEANS ANY AGREEMENT
EXECUTED BY THE STATE, OR A STATE OR MUNICIPAL BODY AND A RECIPIENT
SETTING FORTH ALL TERMS, CONDITIONS AND UNDERSTANDINGS THEREOF OF THE
PROVISION OF ECONOMIC DEVELOPMENT ASSISTANCE.
(C) "RECIPIENT" MEANS ANY BUSINESS ENTITY THAT RECEIVES ECONOMIC
DEVELOPMENT ASSISTANCE PURSUANT TO AN ECONOMIC DEVELOPMENT ASSISTANCE
S 451. DISCLOSURE. (A) EVERY RECIPIENT SHALL, UPON REQUEST OF ANY
PERSON, PROVIDE A COPY OF EACH ECONOMIC DEVELOPMENT ASSISTANCE AGREEMENT
IT HAS ENTERED INTO, A SUMMARY OF ALL ECONOMIC DEVELOPMENT ASSISTANCE
PROVIDED PURSUANT TO SUCH AGREEMENT, A SUMMARY AND EXPLANATION OF ALL
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
S. 2576 2
TERMS AND CONDITIONS OF SUCH AGREEMENT, THE EXTENT OF COMPLIANCE WITH
SUCH TERMS AND CONDITIONS, AND THE PROJECT TO WHICH EACH SUCH AGREEMENT
RELATES. EACH RECIPIENT SHALL IN A TIMELY AND ACCURATE MANNER REGULARLY
UPDATE ALL SUCH INFORMATION.
(B) ALL INFORMATION REQUIRED TO BE MADE AVAILABLE TO THE PUBLIC PURSU-
ANT TO SUBDIVISION (A) OF THIS SECTION SHALL BE POSTED AND MADE AVAIL-
ABLE TO THE PUBLIC ON THE INTERNET WEBSITE OF THE RECIPIENT.
(C) ON OR BEFORE THE FIRST OF JANUARY, APRIL, JULY AND OCTOBER, EACH
RECIPIENT SHALL SUBMIT TO THE SECRETARY OF STATE, ALL INFORMATION
REQUIRED TO BE MADE AVAILABLE TO THE PUBLIC PURSUANT TO SUBDIVISION (A)
OF THIS SECTION.
S 2. This act shall take effect on the first of September next
succeeding the date on which it shall have become a law.