Senate Bill S7215

                                 BILL NUMBER:  S7215

 TITLE OF BILL :
An act to amend the general municipal law, in relation to allowing
municipalities to lease naming rights for government owned property


 PURPOSE OR GENERAL IDEA OF BILL :
This bill allows municipalities, counties, cities, towns and villages
an option to lease naming rights for governmentally owned properties
and facilities (examples include but are not limited to waterfront
property, parks, rail-trails, railroad tracks, city buses and stadiums
etc.)

 SUMMARY OF SPECIFIC PROVISIONS :
Section 1. The general municipal law is amended by adding a new
section 99-V to read as follows: 99-V.  Transfer and lease of naming
rights. As used in this section the term municipality shall mean a
county, city, town, or village.

Section 2. A municipality may enter into a contract to lease the
naming rights of any property owned by such municipality according to
the requirements of this section. The chief executive officer of the
municipality shall be responsible for negotiating the contract,
subject to the ratification of a majority of the members of the
legislative body of such municipality.
              

Section 3. Such leasing agreement shall be for a period of not less
than one year and not more than five years.

Section 4. Any transaction described in this section may be used by
such municipality for any lawful municipal purpose.

 JUSTIFICATION :
The continued weakening economy is severely impacting many local
governments. Property taxes are increasing and many taxpayers are
unable to afford annual tax increases. Because of the weak economy in
many of these communities, establishing a sound budget and providing
the necessary services is becoming much tougher.  In today's
environment, local governments are consequently searching for new,
innovative and creative ways of finding revenue streams. It is
therefore incumbent upon the New York state legislature to provide
municipalities with local options that would assist generating
revenues to fund services and maintain municipality owned property.
Providing the local government with greater flexibility in leasing
naming rights for municipal owned facilities can generate critical
revenues thereby relying less on property tax increases.

 PRIOR LEGISLATIVE HISTORY :
New Legislation.

 FISCAL IMPLICATIONS :
None to New York State.

 EFFECTIVE DATE :
This act will take effect immediately.