senate Bill S2759

2013-2014 Legislative Session

Provides that a public authority or municipality may not provide a tax benefit without declaring a specific listing of the public benefit

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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 corporations, authorities and commissions
Jan 23, 2013 referred to corporations, authorities and commissions

S2759 - Bill Details

See Assembly Version of this Bill:
A6250
Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Add ยง2928, Pub Auth L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S4449, A6118
2009-2010: A7659

S2759 - Bill Texts

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Provides that a public authority or municipality may not provide a tax benefit without declaring a specific published listing of the public benefit.

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BILL NUMBER:S2759

TITLE OF BILL: An act to amend the public authorities law, in relation
to public benefits in exchange for public funds

PURPOSE OR GENERAL IDEA OF THE BILL: To assure there is a public bene-
fit being achieved when state and local authorities and other govern-
mental entities provide economic or financial benefits to private enti-
ties.

SUMMARY OF PROVISIONS: Amends the Public Authorities Law by adding a
new section 2928 which would ban state and local authorities and other
governmental entities from issuing, approving or seeking the grant or
transfer of economic or financial benefits to a private entity without
specific public benefits being published first.

JUSTIFICATION: As taxpayer support for private corporations and private
economic activity has mushroomed in recent years, the fundamental ques-
tion of public benefit has surfaced and resurfaced, without a consistent
and satisfying answer. Critics on both the left and right have decried
these taxpayer subsidies as socialism, wasteful, corrupt, anti-free
enterprise, and unfair to average citizens whose economic struggles are
undertaken without public subsidy. Yet the phrases "economic develop-
ment", 'job creation", "growth", etc. retain enormous political power. A
real analysis of these subsidies has yet to be done, but there clearly
is growing pressure to insure that public benefits flaw from public
investments. It is clear, however, that everyone from the most ardent
supporter to the most ardent critic of the deal agrees that public
subsidies are a decision to employ taxpayer money for the benefit of the
public. Without a measurable, identifiable, specific and significant
public benefit, public financial assistance should not be given. This
bill will protect public funds and ensure that a true public benefit
will be achieved when large economic development projects are subsidized
by New Yorkers.

LEGISLATIVE HISTORY: 2021-12: S.4449/A.6118 - CORPORATIONS/corporations
2009-10: A.7659 -- corporations

FISCAL IMPLICATIONS: No negative fiscal implications.

EFFECTIVE DATE: Immediately.

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

                                  2759

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 23, 2013
                               ___________

Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
  when printed to be committed to the Committee on Corporations, Author-
  ities and Commissions

AN ACT to amend the public authorities law, in relation to public  bene-
  fits in exchange for public funds

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The public authorities law  is  amended  by  adding  a  new
section 2928 to read as follows:
  S  2928.  PUBLIC  BENEFITS.  NO  STATE AUTHORITY OR LOCAL AUTHORITY AS
DEFINED BY SECTION TWO OF THIS CHAPTER AND NO OTHER GOVERNMENTAL  ENTITY
MAY  ISSUE,  APPROVE  OR  SEEK  THE GRANT OR TRANSFER OF ANY ECONOMIC OR
FINANCIAL BENEFIT TO A PRIVATE ENTITY WITHOUT A SPECIFIC PUBLISHED LIST-
ING OF THE BENEFITS TO BE RECEIVED BY THE PUBLIC.  SUCH  BENEFITS  SHALL
INCLUDE  BUT  NOT  BE  LIMITED TO EMPLOYMENT, PUBLIC ACCESS, AND PRIVATE
INVESTMENT. THE PUBLISHED LISTING SHALL BE MADE PUBLIC  AT  LEAST  SIXTY
DAYS BEFORE THE ISSUANCE OF THE ECONOMIC OR FINANCIAL BENEFITS.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05162-01-3

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