senate Bill S2576

2013-2014 Legislative Session

Requires businesses which receive economic development incentives to disclose on a continuing basis the conditions thereof and compliance therewith

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Archive: Last Bill Status - In Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to commerce, economic development and small business
Jan 22, 2013 referred to commerce, economic development and small business

S2576 - Details

Current Committee:
Law Section:
Economic Development Law
Laws Affected:
Add Art 21 ยงยง450 & 451, Ec Dev L
Versions Introduced in 2011-2012 Legislative Session:
S6586

S2576 - Summary

Requires businesses which receive economic development incentives to disclose to the public, on a continuing basis, the conditions thereof and compliance therewith.

S2576 - Sponsor Memo

S2576 - Bill Text download pdf

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

                                  2576

                       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:
                               ARTICLE 21
               ECONOMIC DEVELOPMENT ASSISTANCE DISCLOSURE
SECTION 450. DEFINITIONS.
        451. DISCLOSURE.
  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
AGREEMENT.
  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.
                                                           LBD07335-01-3

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