Senate Bill S7507

                                BILL NUMBER:S7507

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

Subsection 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.
              

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

Subsection 4. Prior to the ratification of a contract pursuant to
this section,
the legislative body of a municipality shall hold a public hearing,
on notice of at least thirty days, announcing the intention of such
municipality to enter into such a contract with a third party. A
public hearing pursuant to this section shall not be held more than
ninety days prior to such ratification.

Subsection 5. 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.


LEGISLATIVE HISTORY:
2009-10: A.9433 (Latimer) - Referred to Local Governments

FISCAL IMPLICATIONS:
None to NY State.

EFFECTIVE DATE:
This act will take effect immediately.