BILL NUMBER:A10228
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 OF THE 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 authori-
ties 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: New bill.
FISCAL IMPLICATIONS: Section 2975-a allows for recovery from IDA's of up
to $5.million.
S T A T E O F N E W Y O R K
________________________________________________________________________
10228
I N A S S E M B L Y
March 11, 2010
___________
Introduced by M. of A. SCHIMMINGER, DelMONTE, MAGEE, DESTITO, SKARTADOS,
LUPARDO, FIELDS, ALESSI -- Multi-Sponsored by -- M. of A. SWEENEY --
read once and referred to the Committee on Local Governments
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 Section 2975-a of the public authorities law is REPEALED.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, 2009.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD16204-03-0
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