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

                                 3441--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 1, 2013
                               ___________

Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Corporations,  Authorities
  and  Commissions  --  recommitted  to  the  Committee on Corporations,
  Authorities and Commissions in accordance with Senate Rule 6,  sec.  8
  --  committee  discharged,  bill amended, ordered reprinted as amended
  and recommitted to said committee

AN ACT to amend the  not-for-profit  corporation  law  and  the  general
  municipal law, in relation to reforming local development corporations
  and industrial development agencies

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

  Section 1. Subparagraphs 2 and 3 of paragraph (d) of section  1411  of
the  not-for-profit  corporation  law are amended and a new subparagraph
2-a is added to read as follows:
  (2)  Notwithstanding the provisions of any general, special, or  local
law,  charter,  or  ordinance  to the contrary, such sale or lease [may]
SHALL be made [without] WITH AN appraisal,  public  notice,  (except  as
provided  in  subparagraph  (4)  OF  THIS PARAGRAPH) [or] AND SUBJECT TO
public bidding for such price or rental [and upon such terms as  may  be
agreed  upon  between  the  county, city, town or village and said local
development corporation; provided,  however,  that  in].  IN case  of  a
lease, the term may not exceed ninety-nine years; and provided, further,
that, in cities having a population of one million or more, no such sale
or lease shall be made without the approval of a majority of the members
of  the  [borough  improvement  board of the borough] COMMUNITY BOARD OR
BOARDS FOR THE COMMUNITY DISTRICT OR DISTRICTS in which such real  prop-
erty  is located AND THE RESPECTIVE BOROUGH BOARD, IF SUCH REAL PROPERTY
IS LOCATED IN TWO OR MORE COMMUNITY DISTRICTS.
  (2-A) (I) THE CORPORATION SHALL PREPARE OR CAUSE TO  BE  PREPARED,  BY
CONTRACT  OR  OTHERWISE, AN ECONOMIC IMPACT STATEMENT ON ANY ACTION THAT
IT PROPOSES OR APPROVES WHICH MAY  HAVE  A  SIGNIFICANT  EFFECT  ON  THE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01276-02-4
              

S. 3441--A                          2

AFFECTED  LOCAL  ECONOMY  AND LOCAL COMMUNITY. THE CORPORATION SHALL USE
ALL PRACTICABLE MEANS TO REALIZE THE POLICIES AND  GOALS  SET  FORTH  IN
THIS  SECTION,  AND  SHALL ACT AND CHOOSE ALTERNATIVES WHICH, CONSISTENT
WITH SOCIAL, ECONOMIC, ENVIRONMENTAL, LABOR, AND OTHER ESSENTIAL CONSID-
ERATIONS,  TO  THE MAXIMUM EXTENT PRACTICABLE, MINIMIZE OR AVOID ADVERSE
ECONOMIC EFFECTS, INCLUDING EFFECTS  REVEALED  IN  THE  ECONOMIC  IMPACT
STATEMENT  PROCESS.  SUCH A STATEMENT SHALL INCLUDE A DETAILED STATEMENT
SETTING FORTH THE FOLLOWING:
  (A) A DESCRIPTION OF THE PROPOSED ACTION AND ITS ECONOMIC  AND  SOCIAL
SETTING;
  (B)  THE  ECONOMIC AND SOCIAL IMPACT OF THE PROPOSED ACTION, INCLUDING
SHORT-TERM AND LONG-TERM EFFECTS, ESPECIALLY TO THE AFFECTED COMMUNITY;
  (C) ANY ADVERSE ECONOMIC EFFECTS WHICH CANNOT BE  AVOIDED  SHOULD  THE
PROPOSAL BE IMPLEMENTED;
  (D) ALTERNATIVES TO THE PROPOSED ACTION;
  (E)   ANY   IRREVERSIBLE  AND  IRRETRIEVABLE  COMMITMENTS  AND  SOCIAL
RESOURCES WHICH WOULD BE INVOLVED IN THE PROPOSED ACTION, SHOULD  IT  BE
IMPLEMENTED;
  (F)  MITIGATION MEASURES PROPOSED TO MINIMIZE THE ECONOMIC, SOCIAL, OR
OTHER ESSENTIAL IMPACTS; AND
  (G) THE GROWTH-INDUCING ASPECTS OF THE PROPOSED ACTION, WHERE APPLICA-
BLE AND SIGNIFICANT. SUCH A STATEMENT SHALL ALSO  INCLUDE  COPIES  OR  A
SUMMARY OF THE SUBSTANTIVE COMMENTS RECEIVED BY THE CORPORATION PURSUANT
TO  CLAUSE  (IV)  OF THIS SUBPARAGRAPH AND THE CORPORATION'S RESPONSE TO
SUCH COMMENTS. THE PURPOSE OF AN ECONOMIC IMPACT STATEMENT IS TO PROVIDE
DETAILED INFORMATION ABOUT THE EFFECT WHICH A PROPOSED ACTION IS  LIKELY
TO  HAVE  ON  THE  ECONOMY, EMPLOYMENT CONDITIONS, AND SOCIAL CHARACTER-
ISTICS OF A COMMUNITY, TO LIST WAYS IN WHICH ANY ADVERSE EFFECTS OF SUCH
AN ACTION MIGHT BE MINIMIZED, AND TO SUGGEST  ALTERNATIVES  TO  SUCH  AN
ACTION  SO  AS  TO FORM THE BASIS FOR A DECISION AS TO WHETHER OR NOT TO
UNDERTAKE OR APPROVE SUCH ACTION. SUCH STATEMENT SHALL BE CLEARLY  WRIT-
TEN  IN  A  CONCISE  MANNER  CAPABLE OF BEING READ AND UNDERSTOOD BY THE
PUBLIC, SHALL DEAL WITH THE SPECIFIC, SIGNIFICANT ECONOMIC IMPACTS WHICH
CAN BE REASONABLY ANTICIPATED, AND SHALL NOT CONTAIN MORE DETAIL THAN IS
APPROPRIATE, CONSIDERING THE NATURE AND MAGNITUDE OF THE PROPOSED ACTION
AND THE SIGNIFICANCE OF ITS POTENTIAL IMPACTS.
  (II) THE CORPORATION MAY REQUIRE AN APPLICANT TO  SUBMIT  AN  ECONOMIC
REPORT  TO  ASSIST THE CORPORATION IN CARRYING OUT ITS RESPONSIBILITIES,
INCLUDING THE INITIAL DETERMINATION AND, (WHERE THE APPLICANT  DOES  NOT
PREPARE  THE  ECONOMIC IMPACT STATEMENT), THE PREPARATION OF AN ECONOMIC
IMPACT STATEMENT UNDER THIS SUBPARAGRAPH. THE  CORPORATION  MAY  REQUEST
SUCH  OTHER  INFORMATION FROM AN APPLICANT AS IT DEEMS NECESSARY FOR THE
REVIEW OF ECONOMIC  AND  SOCIAL  IMPACTS.  NOTWITHSTANDING  ANY  USE  OF
OUTSIDE RESOURCES OR WORK, CORPORATIONS SHALL MAKE THEIR OWN INDEPENDENT
JUDGMENT  OF  THE  SCOPE,  CONTENTS,  AND ADEQUACY OF AN ECONOMIC IMPACT
STATEMENT.
  (III) (A) AS EARLY AS POSSIBLE IN THE FORMULATION OF A PROPOSAL FOR AN
ACTION, THE CORPORATION SHALL MAKE AN INITIAL DETERMINATION AS TO WHETH-
ER OR NOT AN ECONOMIC IMPACT STATEMENT NEED BE PREPARED FOR THE  ACTION.
WITH  RESPECT  TO  ACTIONS  INVOLVING  THE ISSUANCE TO AN APPLICANT OF A
PERMIT OR OTHER ENTITLEMENT, THE CORPORATION SHALL NOTIFY THE  APPLICANT
IN  WRITING  OF  ITS INITIAL DETERMINATION, SPECIFYING THEREIN THE BASIS
FOR SUCH DETERMINATION. NOTICE OF THE INITIAL DETERMINATION, ALONG  WITH
APPROPRIATE SUPPORTING FINDINGS ON CORPORATION ACTIONS, SHALL BE KEPT ON
FILE IN THE MAIN OFFICE OF THE CORPORATION FOR PUBLIC INSPECTION. IF THE
CORPORATION  DETERMINES THAT SUCH STATEMENT IS REQUIRED, THE CORPORATION

S. 3441--A                          3

OR THE APPLICANT, AT THE APPLICANT'S OPTION, SHALL PREPARE OR  CAUSE  TO
BE  PREPARED  A  DRAFT ECONOMIC IMPACT STATEMENT.  IF THE APPLICANT DOES
NOT EXERCISE THE OPTION TO PREPARE SUCH STATEMENT, THE CORPORATION SHALL
PREPARE  IT,  CAUSE  IT  TO  BE PREPARED, OR TERMINATE ITS REVIEW OF THE
PROPOSED ACTION. SUCH STATEMENT SHALL DESCRIBE THE PROPOSED  ACTION  AND
REASONABLE ALTERNATIVES TO THE ACTION, AND BRIEFLY DISCUSS, ON THE BASIS
OF  INFORMATION  THEN  AVAILABLE,  THE  REMAINING  ITEMS  REQUIRED TO BE
SUBMITTED BY CLAUSE (I) OF THIS SUBPARAGRAPH. THE  PURPOSE  OF  A  DRAFT
ECONOMIC  STATEMENT  IS  TO RELATE ECONOMIC AND SOCIAL CONSIDERATIONS TO
THE INCEPTION OF THE PLANNING PROCESS, TO INFORM THE  PUBLIC  AND  OTHER
PUBLIC  AGENCIES  AS  EARLY  AS POSSIBLE ABOUT PROPOSED ACTIONS THAT MAY
SIGNIFICANTLY AFFECT THE QUALITY OF THE ECONOMIC AND SOCIAL  CONDITIONS,
AND  TO  SOLICIT COMMENTS WHICH WILL ASSIST THE CORPORATION IN THE DECI-
SION MAKING PROCESS IN DETERMINING THE ECONOMIC AND SOCIAL  CONSEQUENCES
OF  THE  PROPOSED ACTION. THE DRAFT STATEMENT SHALL RESEMBLE IN FORM AND
CONTENT THE ECONOMIC IMPACT STATEMENT TO BE PREPARED AFTER COMMENTS HAVE
BEEN RECEIVED AND CONSIDERED PURSUANT TO CLAUSE  (I)  OF  THIS  SUBPARA-
GRAPH;  PROVIDED,  HOWEVER,  THAT  THE  LENGTH  AND  DETAIL OF THE DRAFT
ECONOMIC STATEMENT WILL NECESSARILY REFLECT THE  PRELIMINARY  NATURE  OF
THE PROPOSAL AND THE EARLY STAGE AT WHICH IT IS PREPARED;
  (B)  THE DRAFT STATEMENT SHALL BE FILED WITH THE APPROPRIATE GOVERNING
BODY OF EACH MUNICIPALITY OR POLITICAL  SUBDIVISION  THEREOF  FOR  WHOSE
BENEFIT SUCH CORPORATION IS ESTABLISHED.
  (IV)  (A)  AFTER  THE FILING OF A DRAFT ECONOMIC IMPACT STATEMENT, THE
CORPORATION SHALL DETERMINE WHETHER OR NOT TO CONDUCT A  PUBLIC  HEARING
ON THE ECONOMIC IMPACT OF THE PROPOSED ACTION. SUCH PUBLIC HEARING SHALL
BE  HELD  IN A CITY, TOWN OR VILLAGE WHERE THE PROJECT IS PROPOSED TO BE
LOCATED OR, IN CITIES HAVING A POPULATION OF ONE MILLION OR MORE, IN THE
COMMUNITY DISTRICT OR DISTRICTS IN WHICH SUCH PROJECT IS PROPOSED TO  BE
LOCATED  OR IN THE RESPECTIVE BOROUGH, IF SUCH PROJECT IS PROPOSED TO BE
LOCATED IN TWO OR MORE COMMUNITY DISTRICTS.  THE CORPORATION  MUST  GIVE
AT LEAST THIRTY DAYS' PUBLISHED NOTICE OF SUCH PUBLIC HEARING AND SHALL,
AT  THE SAME TIME, PROVIDE NOTICE OF SUCH HEARING TO THE CHIEF EXECUTIVE
OFFICER OF EACH AFFECTED TAX JURISDICTION WITHIN WHICH  THE  PROJECT  IS
PROPOSED  TO  BE  LOCATED. THE NOTICE OF HEARING MUST STATE THE TIME AND
PLACE OF THE HEARING, CONTAIN A GENERAL, FUNCTIONAL DESCRIPTION  OF  THE
PROJECT,  DESCRIBE THE PROSPECTIVE LOCATION OF THE PROJECT, IDENTIFY THE
INITIAL OWNER, OPERATOR, OR MANAGER OF THE PROJECT,  GENERALLY  DESCRIBE
THE FINANCIAL ASSISTANCE CONTEMPLATED BY THE CORPORATION WITH RESPECT TO
THE  PROJECT,  AND  PROVIDE  AN OPPORTUNITY FOR THE PUBLIC TO REVIEW THE
PROJECT APPLICATION, WHICH SHALL INCLUDE AN ANALYSIS OF  THE  COSTS  AND
BENEFITS  OF  THE  PROPOSED  PROJECT.  THE  NOTICE  OF  HEARING  MUST BE
PUBLISHED IN THE STATE REGISTER AND THE WEBSITE OF THE CORPORATION.
  (B) IF THE CORPORATION DETERMINES TO HOLD SUCH  A  HEARING,  IT  SHALL
COMMENCE  THE  HEARING  WITHIN  SIXTY DAYS OF THE FILING AND, UNLESS THE
PROPOSED ACTION IS  WITHDRAWN  FROM  CONSIDERATION,  SHALL  PREPARE  THE
ECONOMIC  IMPACT STATEMENT WITHIN FORTY-FIVE DAYS AFTER THE CLOSE OF THE
HEARING, EXCEPT AS OTHERWISE PROVIDED. THE NEED FOR SUCH A HEARING SHALL
BE DETERMINED IN ACCORDANCE WITH PROCEDURES ADOPTED BY THE  CORPORATION.
IF  NO HEARING IS HELD, THE CORPORATION SHALL PREPARE AND MAKE AVAILABLE
THE ECONOMIC IMPACT STATEMENT WITHIN SIXTY DAYS AFTER THE FILING OF  THE
DRAFT, EXCEPT AS OTHERWISE PROVIDED.
  (C)  NOTWITHSTANDING  THE  SPECIFIED  TIME PERIODS ESTABLISHED BY THIS
SUBPARAGRAPH, A CORPORATION SHALL VARY THE TIMES SO ESTABLISHED IN  THIS
CLAUSE  FOR  PREPARATION,  REVIEW, AND PUBLIC HEARINGS TO COORDINATE THE
ECONOMIC AND SOCIAL REVIEW PROCESS WITH  OTHER  PROCEDURES  RELATING  TO

S. 3441--A                          4

REVIEW  AND  APPROVAL  OR  DISAPPROVAL  OF  AN ACTION. AN APPLICATION OR
AUTHORIZATION FOR AN ACTION UPON WHICH A DRAFT ECONOMIC IMPACT STATEMENT
IS DETERMINED TO BE REQUIRED SHALL NOT  BE  COMPLETE  UNTIL  SUCH  DRAFT
STATEMENT HAS BEEN FILED AND ACCEPTED BY THE CORPORATION AS SATISFACTORY
WITH  RESPECT  TO  SCOPE,  CONTENT,  AND  ADEQUACY  FOR PURPOSES OF THIS
SUBPARAGRAPH. COMMENCING  UPON  SUCH  ACCEPTANCE,  THE  ECONOMIC  IMPACT
STATEMENT  PROCESS SHALL RUN CONCURRENTLY WITH OTHER PROCEDURES RELATING
TO THE REVIEW AND APPROVAL OF THE ACTION, SO LONG AS REASONABLE TIME  IS
PROVIDED  FOR  PREPARATION,  REVIEW, AND PUBLIC HEARINGS WITH RESPECT TO
THE DRAFT ECONOMIC IMPACT STATEMENT.
  (V) TO THE EXTENT POSSIBLE, THE  ECONOMIC  IMPACT  STATEMENT  PREPARED
PURSUANT  TO CLAUSE (I) OF THIS SUBPARAGRAPH, TOGETHER WITH THE COMMENTS
OF PUBLIC AGENCIES AND MEMBERS OF THE PUBLIC, SHALL BE  FILED  WITH  THE
GOVERNING BODY OF EACH MUNICIPALITY OR POLITICAL SUBDIVISION THEREOF FOR
WHOSE  BENEFIT SUCH CORPORATION IS ESTABLISHED AND MADE AVAILABLE TO THE
PUBLIC PRIOR TO ACTING ON THE PROPOSAL  WHICH  IS  THE  SUBJECT  OF  THE
ECONOMIC IMPACT STATEMENT.
  (VI)  A  CORPORATION  MAY  CHARGE A FEE TO AN APPLICANT TO RECOVER THE
COSTS INCURRED IN PREPARING OR CAUSING TO BE  PREPARED  OR  REVIEWING  A
DRAFT  ECONOMIC  IMPACT STATEMENT OR AN ECONOMIC IMPACT STATEMENT ON THE
ACTION WHICH THE APPLICANT  REQUESTS  FROM  THE  CORPORATION;  PROVIDED,
HOWEVER,  THAT  AN  APPLICANT MAY NOT BE CHARGED A SEPARATE FEE FOR BOTH
THE PREPARATION AND REVIEW OF SUCH STATEMENTS. THE TECHNICAL SERVICES OF
THE CORPORATION MAY BE MADE AVAILABLE ON  A  FEE  BASIS  REFLECTING  THE
COSTS THEREOF TO A REQUESTING APPLICANT, WHICH FEE OR FEES MAY APPROPRI-
ATELY  BE  CHARGED  BY  THE CORPORATION TO THE APPLICANT UNDER RULES AND
REGULATIONS, WHICH THE CORPORATION SHALL ISSUE FOR SUCH PURPOSE.
  (VII) WHEN A CORPORATION DECIDES TO CARRY OUT  OR  APPROVE  AN  ACTION
WHICH  HAS  BEEN  THE  SUBJECT OF AN ECONOMIC IMPACT STATEMENT, IT SHALL
MAKE AN EXPLICIT FINDING THAT THE REQUIREMENTS OF THIS SUBPARAGRAPH HAVE
BEEN MET AND THAT, CONSISTENT WITH SOCIAL, ECONOMIC, AND OTHER ESSENTIAL
CONSIDERATION, TO THE  MAXIMUM  EXTENT  PRACTICABLE,  ADVERSE  ECONOMIC,
SOCIAL,  AND COMMUNITY EFFECTS REVEALED IN THE ECONOMIC IMPACT STATEMENT
PROCESS WILL BE MINIMIZED OR AVOIDED.
  (3) Before any sale or lease to a local development corporation incor-
porated or reincorporated under this  article  shall  be  authorized,  a
public  hearing  shall be held by the local legislative body, or [by the
board of estimate], IN CITIES HAVING A  POPULATION  OF  ONE  MILLION  OR
MORE,  BY THE COMMUNITY BOARD OR BOARDS OR THE RESPECTIVE BOROUGH BOARD,
as the case may be, to consider the proposed sale or  lease  ONLY  AFTER
THE COMPLETION OF THE ECONOMIC IMPACT STATEMENT REQUIRED BY SUBPARAGRAPH
TWO-A  OF  THIS  PARAGRAPH.  A  PUBLIC  HEARING  MAY ONLY BE CONVENED IF
TWO-THIRDS OF THE BOARD MEMBERS ARE PRESENT. IF NOT, SUCH PUBLIC HEARING
SHALL NOT BE CONVENED AND SHALL BE  RESCHEDULED,  SUBJECT  TO  THE  SAME
QUORUM REQUIREMENTS.
  S  2.  Paragraph (i) of section 1411 of the not-for-profit corporation
law is relettered paragraph (j) and a new paragraph (i) is added to read
as follows:
  (I) MUNICIPAL INPUT.
  (1) BOARD MEMBERS OR EMPLOYEES OF A LOCAL DEVELOPMENT CORPORATION MUST
NOT BE OR HAVE, WITHIN THE PAST FIVE YEARS, BEEN: (A) AN EMPLOYEE OR  AN
OWNER OF A FIRM THAT IS A PAID ADVISOR OR CONSULTANT OF THE LOCAL DEVEL-
OPMENT CORPORATION, INCLUDING A PRESENT OR FORMER INDEPENDENT AUDITOR OF
THE LOCAL DEVELOPMENT CORPORATION; (B) EMPLOYED BY A SIGNIFICANT SUPPLI-
ER  OF THE LOCAL DEVELOPMENT CORPORATION; (C) EMPLOYED BY AND HAD A FIVE
PERCENT OR GREATER OWNERSHIP INTEREST IN A SUPPLIER WHERE SALES  TO  THE

S. 3441--A                          5

LOCAL  DEVELOPMENT  CORPORATION  REPRESENT  MORE THAN ONE PERCENT OF THE
SALES OF THE SUPPLIER OR MORE THAN ONE PERCENT OF THE PURCHASES  OF  THE
LOCAL  DEVELOPMENT CORPORATION; (D) A "POLITICAL PARTY CHAIRMAN" AS SUCH
TERM  IS DEFINED IN PARAGRAPH (K) OF SUBDIVISION ONE OF SECTION SEVENTY-
THREE OF THE PUBLIC OFFICERS LAW; OR (E) A LOBBYIST REGISTERED  UNDER  A
STATE  OR LOCAL LAW COVERING ANY JURISDICTION SERVED IN WHOLE OR IN PART
BY THE LOCAL DEVELOPMENT CORPORATION.  IN ADDITION, AT  LEAST  ONE-THIRD
OF  ALL  MEMBERS  SHALL BE REPRESENTATIVE OF LOCAL GOVERNMENT, ORGANIZED
LABOR, OR THE ENGINEERING, BUSINESS, OR ENVIRONMENTAL COMMUNITIES.
  (2) THE LOCAL DEVELOPMENT CORPORATION SHALL FILE AN ANNUAL REPORT WITH
THE ATTORNEY GENERAL NOTING THE LOCAL DEVELOPMENT  CORPORATION'S  FINAN-
CIAL  ACTIVITY  DURING  EACH  YEAR,  INCLUDING,  BUT NOT LIMITED TO, THE
AMOUNT AND THE REASON FOR THE AMOUNT AND KINDS OF  FINANCIAL  INCENTIVES
PROVIDED  TO ANY ENTITY AND ANY OTHER DATA THAT THE ATTORNEY GENERAL MAY
REQUIRE.  THE REPORT SHALL BE SUBMITTED BEFORE FEBRUARY  FIRST  OF  EACH
YEAR.  EACH  REPORT  SHALL  BE MADE AVAILABLE TO THE PUBLIC IN AN EASILY
ACCESSIBLE FORMAT, INCLUDING BUT NOT LIMITED TO  AN  ELECTRONIC  VERSION
VIA THE WORLD WIDE WEB.
  (3)  ANY  LEASE,  SALE, OR OTHER REVENUES COLLECTED BY THE CORPORATION
SHALL BE PAID TO THE LOCAL GOVERNING BODY  IN  WHICH  REAL  PROPERTY  OR
OTHER  SOURCE  OF  REVENUE  IS  LOCATED,  AND  PROPORTIONALLY DIVIDED IF
LOCATED IN MORE THAN ONE MUNICIPALITY.
  (4) THE GOVERNING BODY OF EACH MUNICIPALITY FOR WHOSE BENEFIT A CORPO-
RATION IS ESTABLISHED SHALL HAVE THE AUTHORITY TO APPROVE OR  DISAPPROVE
ANY  AGENCY  USE  OF  EMINENT DOMAIN, DISPOSITION OF CORPORATE PROPERTY,
ISSUANCE OF BONDS,  ENTRANCE  INTO  AGREEMENTS  REQUIRING  PAYMENTS,  OR
ENTERING  INTO  AGREEMENTS  FOR  PAYMENTS  IN  LIEU  OF TAXES. EACH SUCH
GOVERNING BODY SHALL APPROVE OR DISAPPROVE ANY OF  THE  ABOVE  CORPORATE
DECISIONS  BY  MAJORITY VOTE. WHERE APPLICABLE IN THE ENACTMENT OF LOCAL
LAWS, THE CHIEF EXECUTIVE  OFFICER  SHALL  APPROVE  OR  DISAPPROVE  SUCH
GOVERNING  BODY'S DECISION, SUBJECT TO ANY APPLICABLE RIGHT TO OVERRIDE.
BOARDS SHALL NOT VIOLATE ANY LOCAL ZONING  LAWS,  ORDINANCES,  OR  REGU-
LATIONS  OR LOCAL DEVELOPMENT PLANS. WHERE APPLICABLE, THE PROVISIONS OF
THIS SUBPARAGRAPH SHALL APPLY TO MORE THAN ONE LOCAL GOVERNING BODY  AND
THE NEW YORK JOB DEVELOPMENT AUTHORITY.
  S  3.  Subdivision  2  of section 856 of the general municipal law, as
amended by chapter 356 of the laws  of  1993,  is  amended  to  read  as
follows:
  2.  An agency shall be a corporate governmental agency, constituting a
public benefit corporation. Except as otherwise provided by special  act
of  the  legislature, an agency shall consist of not less than three nor
more than seven members who shall be appointed by  the  CHIEF  EXECUTIVE
OFFICER,  WITH  THE  ADVICE  AND CONSENT OF THE LOCAL governing body, of
each municipality and who shall serve at the pleasure of the  appointing
authority.  [Such  members  may include representatives of local govern-
ment, school boards, organized labor and business.] AT  LEAST  ONE-THIRD
OF  ALL  MEMBERS  SHALL BE REPRESENTATIVE OF LOCAL GOVERNMENT, ORGANIZED
LABOR, OR THE ENGINEERING, BUSINESS,  OR  ENVIRONMENTAL  COMMUNITIES.  A
member  shall  continue  to  hold  office  until his OR HER successor is
appointed and has qualified. The governing  body  of  each  municipality
shall  designate  the  first  [chairman]  CHAIRPERSON  and file with the
secretary of state a certificate of appointment or reappointment of  any
member.  Such  members  shall receive no compensation for their services
but shall be entitled to the  necessary  expenses,  including  traveling
expenses,  incurred  in the discharge of their duties.  MEMBERS MUST NOT
BE OR HAVE, WITHIN THE PAST FIVE YEARS, BEEN:

S. 3441--A                          6

  (A) AN EMPLOYEE OR AN OWNER OF A  FIRM  THAT  IS  A  PAID  ADVISOR  OR
CONSULTANT  OF  THE  AGENCY,  INCLUDING  A PRESENT OR FORMER INDEPENDENT
AUDITOR OF THE AGENCY;
  (B) EMPLOYED BY A SIGNIFICANT SUPPLIER OF THE AGENCY;
  (C)  EMPLOYED  BY AND HAD A FIVE PERCENT OR GREATER OWNERSHIP INTEREST
IN A SUPPLIER WHERE SALES TO THE AGENCY REPRESENT MORE THAN ONE  PERCENT
OF  THE  SALES OF THE SUPPLIER OR MORE THAN ONE PERCENT OF THE PURCHASES
OF THE AGENCY;
  (D) A "POLITICAL PARTY CHAIRMAN" AS SUCH TERM IS DEFINED IN  PARAGRAPH
(K)  OF  SUBDIVISION ONE OF SECTION SEVENTY-THREE OF THE PUBLIC OFFICERS
LAW; OR
  (E) A LOBBYIST REGISTERED UNDER A STATE  OR  LOCAL  LAW  COVERING  ANY
JURISDICTION SERVED IN WHOLE OR IN PART BY THE AGENCY.
  S  4.  Subdivision  15 of section 858 of the general municipal law, as
added by chapter 356 of the laws of 1993, is amended to read as follows:
  (15) To enter into agreements requiring payments  in  lieu  of  taxes.
Such agreements shall be in writing and in addition to other terms shall
contain:   the amount due annually to each affected tax jurisdiction (or
a formula by which the amount due  can  be  calculated),  the  name  and
address of the person, office or agency to which payment shall be deliv-
ered,  the  date  on  which payment shall be made, and the date on which
payment shall be considered delinquent if  not  paid.  Unless  otherwise
agreed  by  the  affected  tax  jurisdictions,  any such agreement shall
provide that payments in lieu of taxes shall be allocated among affected
tax jurisdictions in proportion to the amount of real property  tax  and
other  taxes  which would have been received by each affected tax juris-
diction had the project not been tax exempt due to  the  status  of  the
agency  involved  in  the project. A copy of any such agreement shall be
delivered to each affected tax jurisdiction within fifteen days of sign-
ing the agreement.  In  the  absence  of  any  such  written  agreement,
payments  in  lieu  of taxes made by an agency shall be allocated in the
same proportions as they had  been  prior  to  January  first,  nineteen
hundred  ninety-three  for  so  long as the agency's activities render a
project  non-taxable  by  affected  tax  jurisdictions.   STANDARD   TAX
EXEMPTION POLICIES ESTABLISHED IN LAW OR BY AGENCIES SHALL BE SENT ANNU-
ALLY  TO  CHIEF  EXECUTIVES  AND  ALL MEMBERS OF GOVERNING BOARDS OF ALL
AFFECTED TAX JURISDICTIONS. ANY CHANGES TO THE  STANDARD  TAX  EXEMPTION
POLICIES  SHALL  ALSO  BE  SENT  TO  CHIEF EXECUTIVES AND ALL MEMBERS OF
GOVERNING BOARDS OF AFFECTED TAX JURISDICTIONS. STANDARD  TAX  EXEMPTION
POLICIES  SHALL  ALSO  BE MADE AVAILABLE TO THE PUBLIC AND POSTED ON THE
AGENCY'S WEBSITE.  EVERY AGENCY SHALL BE REQUIRED TO MAINTAIN, AND  MAKE
AVAILABLE TO ALL LOCAL ELECTED OFFICIALS AND THE PUBLIC, A CURRENT SCHE-
DULE  OF ALL PILOT PAYMENTS DUE EACH YEAR AND THE AMOUNT OF EACH PAYMENT
ALLOCABLE TO EACH AFFECTED TAX JURISDICTION ON WHOSE BEHALF THE PILOT IS
BEING COLLECTED.  ALL AGENCIES SHALL MAINTAIN, AND MAKE  READILY  AVAIL-
ABLE TO ALL LOCAL ELECTED OFFICIALS AND THE PUBLIC, CURRENT SCHEDULES OF
PROJECT  OWNERS  WHO  ARE  IN  ARREARS  IN  THE MAKING OF REQUIRED PILOT
PAYMENTS, THE AMOUNTS INVOLVED, AND THE  TIME  PERIODS  INVOLVED.  EVERY
AGENCY  MUST  ENSURE  THAT  ALL PILOT PAYMENTS ARE PROMPTLY RECEIVED AND
FULLY TRANSMITTED TO THE TREASURIES OF THE AFFECTED TAX JURISDICTIONS ON
WHOSE BEHALF THOSE PILOT PAYMENTS WERE COLLECTED;
  S 5. The general municipal law is amended  by  adding  a  new  section
858-c to read as follows:
  S  858-C.  MUNICIPAL INPUT. 1. THE GOVERNING BODY OF EACH MUNICIPALITY
FOR WHOSE BENEFIT AN AGENCY IS ESTABLISHED SHALL HAVE THE  AUTHORITY  TO
APPROVE  OR  DISAPPROVE ANY AGENCY USE OF EMINENT DOMAIN, DISPOSITION OF

S. 3441--A                          7

AGENCY PROPERTY, ISSUANCE OF BONDS, ENTRANCE INTO  AGREEMENTS  REQUIRING
PAYMENTS,  OR  ENTERING  INTO  AGREEMENTS FOR PAYMENTS IN LIEU OF TAXES.
EACH SUCH GOVERNING BODY SHALL APPROVE OR DISAPPROVE ANY  OF  THE  ABOVE
AGENCY  DECISIONS BY MAJORITY VOTE. WHERE APPLICABLE IN THE ENACTMENT OF
LOCAL LAWS, THE CHIEF EXECUTIVE OFFICER SHALL APPROVE OR DISAPPROVE SUCH
GOVERNING BODY'S DECISION, SUBJECT TO ANY APPLICABLE RIGHT TO OVERRIDE.
  2. AGENCY BOARDS SHALL NOT VIOLATE ANY LOCAL ZONING LAWS,  ORDINANCES,
OR REGULATIONS OR LOCAL DEVELOPMENT PLANS.
  S  6.  Paragraphs  (a)  and (b) of subdivision 1 of section 859 of the
general municipal law, paragraph (a) as added by chapter 692 of the laws
of 1989 and paragraph (b) as amended by chapter 357 of the laws of 1993,
are amended to read as follows:
  (a) Each agency shall maintain books and records in such form  as  may
be prescribed by the state comptroller.  THE COMPTROLLER SHALL PRESCRIBE
RULES ON STANDARDIZING THE CALCULATION OF TAX BENEFITS.
  (b)  Within  ninety  days following the close of its fiscal year, each
agency or authority shall prepare a financial statement for that  fiscal
year  in  such  form as may be prescribed by the state comptroller. Such
statement shall be audited within such ninety day period by an independ-
ent certified public accountant in accordance with government accounting
standards established by the United States  general  accounting  office.
The  audited  financial  statement  shall include supplemental schedules
listing all straight-lease transactions  and  bonds  and  notes  issued,
outstanding  or  retired during the applicable accounting period whether
or not such bonds, notes or transactions are considered  obligations  of
the agency, AND INFORMATION ON PILOTS.  For each issue of bonds or notes
such  schedules  shall  provide  the  name of each project financed with
proceeds of each issue, and whether the project occupant is  a  not-for-
profit  corporation, the name and address of each owner of each project,
THE ADDRESS OF EACH PROJECT, the  estimated  amount  of  tax  exemptions
authorized for each project, the purpose for which each bond or note was
issued,  date  of  issue,  interest rate at issuance and if variable the
range of interest rates applicable, maturity date, federal tax status of
each issue, and an estimate of the number of jobs created  and  retained
by  each  project.  For  each straight-lease transaction, such schedules
shall provide the name of each project, and whether the project occupant
is a not-for-profit corporation, the name and address of each  owner  of
each project, the estimated amount of tax exemptions authorized for each
project,  the purpose for which each transaction was made, the method of
financial assistance  utilized  by  the  project,  other  than  the  tax
exemptions  claimed by the project and an estimate of the number of jobs
created and retained by each project.
  S 7. Section 859-a of the general municipal law, as added  by  chapter
356 of the laws of 1993, is amended to read as follows:
  S  859-a.  Additional  prerequisites  to  the  provisions of financial
assistance, ECONOMIC IMPACT STATEMENTS AND  PUBLIC  HEARINGS.  Prior  to
providing  any  financial  assistance  of more than one hundred thousand
dollars to any project,  the  agency  must  comply  with  the  following
prerequisites:
  1.  The  agency must adopt a resolution describing the project and the
financial assistance that the agency is contemplating  with  respect  to
such  project.  AGENCIES  MUST  MAINTAIN  A LIST OF ALL PENDING PROJECTS
ABOUT WHICH THEY HAVE BEEN CONTACTED, AND MAKE SUCH LISTS AVAILABLE  FOR
PUBLIC  INSPECTION, INCLUDING BUT NOT LIMITED TO PUBLISHING THE LISTS ON
THE AGENCY'S WEBSITE. IF ANY PERSON REQUESTS MORE  INFORMATION  ABOUT  A
PARTICULAR  PROJECT,  THE AGENCY SHALL PROVIDE SUCH INFORMATION AS EXPE-

S. 3441--A                          8

DITIOUSLY AS POSSIBLE. Such assistance  shall  be  consistent  with  the
uniform  tax exemption policy adopted by the agency pursuant to subdivi-
sion four of section eight hundred seventy-four of this [chapter] TITLE,
unless  the  agency  has followed the procedures for deviation from such
policy specified in paragraph (b) of such subdivision.  SUCH  ASSISTANCE
SHALL  ALSO  BE  CONSISTENT  WITH ENVIRONMENTAL PROTECTION, SUCH AS OPEN
SPACE PROTECTION, THAT WILL PROMOTE NEW DEVELOPMENT PATTERNS IN ORDER TO
TAKE ADVANTAGE OF RESOURCES AND OPPORTUNITIES, SUCH AS  EXISTING  PUBLIC
SEWER AND WATER INFRASTRUCTURE, WITHOUT COMPROMISING THE NEEDS OF FUTURE
GENERATIONS;  AND  LABOR  PROTECTION,  INCLUDING ALL FEDERAL, STATE, AND
LOCAL LABOR LAWS, RULES, OR REGULATIONS. THE AGENCY SHALL NOT  GRANT  OR
APPROPRIATE  ASSISTANCE  TO  ANY ENTITY THAT HAS COMMITTED VIOLATIONS OF
ANY FEDERAL, STATE, OR LOCAL LAWS.
  2. THE AGENCY SHALL PREPARE (WHERE THE APPLICANT DOES NOT PREPARE  THE
ECONOMIC  IMPACT  STATEMENT),  OR  CAUSE  TO  BE PREPARED BY CONTRACT OR
OTHERWISE, AN ECONOMIC IMPACT STATEMENT ON ANY ACTION THAT  IT  PROPOSES
OR  APPROVES  WHICH  MAY HAVE A SIGNIFICANT EFFECT ON THE AFFECTED LOCAL
ECONOMY AND LOCAL COMMUNITY.  THE AGENCY SHALL USE ALL PRACTICABLE MEANS
TO REALIZE THE POLICIES AND GOALS SET FORTH IN THIS ARTICLE,  AND  SHALL
ACT AND CHOOSE ALTERNATIVES WHICH, CONSISTENT WITH SOCIAL, ECONOMIC, AND
OTHER ESSENTIAL CONSIDERATIONS, TO THE MAXIMUM EXTENT PRACTICABLE, MINI-
MIZE  OR  AVOID  ADVERSE ECONOMIC EFFECTS, INCLUDING EFFECTS REVEALED IN
THE ECONOMIC IMPACT STATEMENT PROCESS. SUCH A STATEMENT SHALL INCLUDE  A
DETAILED STATEMENT SETTING FORTH THE FOLLOWING:
  (A)  A  DESCRIPTION OF THE PROPOSED ACTION AND ITS ECONOMIC AND SOCIAL
SETTING;
  (B) THE ECONOMIC AND SOCIAL IMPACT OF THE PROPOSED  ACTION,  INCLUDING
SHORT-TERM AND LONG-TERM EFFECTS, ESPECIALLY TO THE AFFECTED COMMUNITY;
  (C)  ANY  ADVERSE  ECONOMIC EFFECTS WHICH CANNOT BE AVOIDED SHOULD THE
PROPOSAL BE IMPLEMENTED;
  (D) ALTERNATIVES TO THE PROPOSED ACTION;
  (E)  ANY  IRREVERSIBLE  AND  IRRETRIEVABLE  COMMITMENTS   AND   SOCIAL
RESOURCES  WHICH  WOULD BE INVOLVED IN THE PROPOSED ACTION, SHOULD IT BE
IMPLEMENTED;
  (F) MITIGATION MEASURES PROPOSED TO MINIMIZE THE ECONOMIC,  SOCIAL  OR
OTHER ESSENTIAL IMPACTS; AND
  (G) THE GROWTH-INDUCING ASPECTS OF THE PROPOSED ACTION, WHERE APPLICA-
BLE AND SIGNIFICANT.
  SUCH  A  STATEMENT  SHALL  ALSO  INCLUDE  COPIES  OR  A SUMMARY OF THE
SUBSTANTIVE COMMENTS RECEIVED BY THE AGENCY PURSUANT TO SUBDIVISION  SIX
OF  THIS  SECTION, AND THE AGENCY RESPONSE TO SUCH COMMENTS. THE PURPOSE
OF AN ECONOMIC IMPACT STATEMENT IS TO PROVIDE DETAILED INFORMATION ABOUT
THE EFFECT WHICH A PROPOSED ACTION IS LIKELY TO  HAVE  ON  THE  ECONOMY,
EMPLOYMENT  CONDITIONS,  AND  SOCIAL  CHARACTERISTICS OF A COMMUNITY, TO
LIST WAYS IN WHICH ANY ADVERSE EFFECTS OF SUCH AN ACTION MIGHT BE  MINI-
MIZED,  AND  TO SUGGEST ALTERNATIVES TO SUCH AN ACTION SO AS TO FORM THE
BASIS FOR A DECISION AS TO WHETHER OR NOT TO UNDERTAKE OR  APPROVE  SUCH
ACTION.    SUCH  STATEMENT  SHALL BE CLEARLY WRITTEN IN A CONCISE MANNER
CAPABLE OF BEING READ AND UNDERSTOOD BY THE PUBLIC, SHALL DEAL WITH  THE
SPECIFIC  SIGNIFICANT  ECONOMIC  IMPACTS  WHICH CAN BE REASONABLY ANTIC-
IPATED, AND SHALL NOT CONTAIN MORE DETAIL THAN IS APPROPRIATE, CONSIDER-
ING THE NATURE AND MAGNITUDE OF THE PROPOSED ACTION AND THE SIGNIFICANCE
OF ITS POTENTIAL IMPACTS.
  3. THE AGENCY MAY REQUIRE AN APPLICANT TO SUBMIT AN ECONOMIC REPORT TO
ASSIST THE AGENCY IN CARRYING OUT ITS  RESPONSIBILITIES,  INCLUDING  THE
INITIAL  DETERMINATION  AND,  (WHERE  THE APPLICANT DOES NOT PREPARE THE

S. 3441--A                          9

ECONOMIC IMPACT STATEMENT), THE PREPARATION OF AN ECONOMIC IMPACT STATE-
MENT UNDER THIS ARTICLE. THE AGENCY MAY REQUEST SUCH  OTHER  INFORMATION
FROM  AN  APPLICANT  NECESSARY  FOR  THE  REVIEW  OF ECONOMIC AND SOCIAL
IMPACTS.  NOTWITHSTANDING ANY USE OF OUTSIDE RESOURCES OR WORK, AGENCIES
SHALL MAKE THEIR OWN INDEPENDENT JUDGMENT OF THE  SCOPE,  CONTENTS,  AND
ADEQUACY OF AN ECONOMIC IMPACT STATEMENT.
  4.  (A)  AS  EARLY AS POSSIBLE IN THE FORMULATION OF A PROPOSAL FOR AN
ACTION, THE AGENCY SHALL MAKE AN INITIAL DETERMINATION AS TO WHETHER  OR
NOT  AN ECONOMIC IMPACT STATEMENT NEED BE PREPARED FOR THE ACTION.  WITH
RESPECT TO ACTIONS INVOLVING THE ISSUANCE TO AN APPLICANT OF A PERMIT OR
OTHER ENTITLEMENT, THE AGENCY SHALL NOTIFY THE APPLICANT IN  WRITING  OF
ITS  INITIAL DETERMINATION, SPECIFYING THEREIN THE BASIS FOR SUCH DETER-
MINATION.  NOTICE OF THE INITIAL DETERMINATION, ALONG  WITH  APPROPRIATE
SUPPORTING FINDINGS ON AGENCY ACTIONS, SHALL BE KEPT ON FILE IN THE MAIN
OFFICE  OF  THE  AGENCY FOR PUBLIC INSPECTION.  IF THE AGENCY DETERMINES
THAT SUCH STATEMENT IS REQUIRED, THE AGENCY OR  THE  APPLICANT,  AT  THE
APPLICANT'S  OPTION,  SHALL  PREPARE  OR  CAUSE  TO  BE PREPARED A DRAFT
ECONOMIC IMPACT STATEMENT.   IF THE  APPLICANT  DOES  NOT  EXERCISE  THE
OPTION  TO PREPARE SUCH STATEMENT, THE AGENCY SHALL PREPARE IT, CAUSE IT
TO BE PREPARED, OR TERMINATE ITS REVIEW OF  THE  PROPOSED  ACTION.  SUCH
STATEMENT SHALL DESCRIBE THE PROPOSED ACTION AND REASONABLE ALTERNATIVES
TO  THE  ACTION,  AND  BRIEFLY DISCUSS, ON THE BASIS OF INFORMATION THEN
AVAILABLE, THE REMAINING ITEMS REQUIRED TO BE SUBMITTED  BY  SUBDIVISION
TWO  OF  THIS  SECTION.  THE PURPOSE OF A DRAFT ECONOMIC STATEMENT IS TO
RELATE ECONOMIC AND SOCIAL CONSIDERATIONS TO THE INCEPTION OF THE  PLAN-
NING PROCESS, TO INFORM THE PUBLIC AND OTHER PUBLIC AGENCIES AS EARLY AS
POSSIBLE ABOUT PROPOSED ACTIONS THAT MAY SIGNIFICANTLY AFFECT THE QUALI-
TY  OF THE ECONOMIC AND SOCIAL CONDITIONS, AND TO SOLICIT COMMENTS WHICH
WILL ASSIST THE AGENCY IN THE DECISION MAKING PROCESS IN DETERMINING THE
ECONOMIC AND SOCIAL CONSEQUENCES  OF  THE  PROPOSED  ACTION.  THE  DRAFT
STATEMENT  SHALL RESEMBLE IN FORM AND CONTENT THE ECONOMIC IMPACT STATE-
MENT TO BE PREPARED AFTER COMMENTS HAVE  BEEN  RECEIVED  AND  CONSIDERED
PURSUANT  TO  SUBDIVISION  TWO OF THIS SECTION; HOWEVER, THAT THE LENGTH
AND DETAIL OF THE DRAFT ECONOMIC STATEMENT WILL NECESSARILY REFLECT  THE
PRELIMINARY  NATURE  OF  THE PROPOSAL AND THE EARLY STAGE AT WHICH IT IS
PREPARED;
  (B) THE DRAFT STATEMENT SHALL BE FILED WITH THE APPROPRIATE  GOVERNING
BODY OF EACH MUNICIPALITY FOR WHOSE BENEFIT SUCH AGENCY IS ESTABLISHED.
  5.  (A)  AFTER  THE  FILING  OF A DRAFT ECONOMIC IMPACT STATEMENT, THE
AGENCY SHALL DETERMINE WHETHER OR NOT TO CONDUCT A PUBLIC HEARING ON THE
ECONOMIC IMPACT OF THE PROPOSED ACTION. SUCH  PUBLIC  HEARING  SHALL  BE
HELD  IN  A  CITY,  TOWN, OR VILLAGE WHERE THE PROJECT IS PROPOSED TO BE
LOCATED.  THE AGENCY MUST GIVE AT LEAST THIRTY DAYS' PUBLISHED NOTICE OF
SUCH PUBLIC HEARING AND SHALL, AT THE SAME TIME, PROVIDE NOTICE OF  SUCH
HEARING TO THE CHIEF EXECUTIVE OFFICER OF EACH AFFECTED TAX JURISDICTION
WITHIN  WHICH THE PROJECT IS PROPOSED TO BE LOCATED. THE NOTICE OF HEAR-
ING MUST STATE THE TIME AND PLACE OF THE  HEARING,  CONTAIN  A  GENERAL,
FUNCTIONAL DESCRIPTION OF THE PROJECT, DESCRIBE THE PROSPECTIVE LOCATION
OF  THE PROJECT, IDENTIFY THE INITIAL OWNER, OPERATOR, OR MANAGER OF THE
PROJECT, GENERALLY DESCRIBE THE FINANCIAL ASSISTANCE CONTEMPLATED BY THE
AGENCY WITH RESPECT TO THE PROJECT, AND PROVIDE AN OPPORTUNITY  FOR  THE
PUBLIC  TO REVIEW THE PROJECT APPLICATION, WHICH SHALL INCLUDE AN ANALY-
SIS OF THE COSTS AND BENEFITS OF THE PROPOSED  PROJECT.  THE  NOTICE  OF
HEARING  MUST  BE PUBLISHED IN THE STATE REGISTER AND THE WEBSITE OF THE
AGENCY.

S. 3441--A                         10

  (B) IF THE AGENCY DETERMINES TO HOLD SUCH A HEARING, IT SHALL COMMENCE
THE HEARING WITHIN SIXTY DAYS OF THE FILING  AND,  UNLESS  THE  PROPOSED
ACTION  IS  WITHDRAWN  FROM  CONSIDERATION,  SHALL  PREPARE THE ECONOMIC
IMPACT STATEMENT WITHIN FORTY-FIVE DAYS AFTER THE CLOSE OF THE  HEARING,
EXCEPT  AS  OTHERWISE  PROVIDED.  THE  NEED  FOR SUCH A HEARING SHALL BE
DETERMINED IN ACCORDANCE WITH PROCEDURES ADOPTED BY THE AGENCY  PURSUANT
TO  SECTION  EIGHT  HUNDRED  FIFTY-EIGHT OF THIS TITLE. IF NO HEARING IS
HELD, THE AGENCY SHALL PREPARE AND MAKE AVAILABLE  THE  ECONOMIC  IMPACT
STATEMENT  WITHIN  SIXTY  DAYS  AFTER THE FILING OF THE DRAFT, EXCEPT AS
OTHERWISE PROVIDED.
  (C) NOTWITHSTANDING THE SPECIFIED TIME  PERIODS  ESTABLISHED  BY  THIS
ARTICLE, AN AGENCY SHALL VARY THE TIMES SO ESTABLISHED HEREIN FOR PREPA-
RATION, REVIEW AND PUBLIC HEARINGS TO COORDINATE THE ECONOMIC AND SOCIAL
REVIEW  PROCESS WITH OTHER PROCEDURES RELATING TO REVIEW AND APPROVAL OF
AN ACTION. AN APPLICATION OR AUTHORIZATION FOR AN ACTION  UPON  WHICH  A
DRAFT  ECONOMIC  IMPACT STATEMENT IS DETERMINED TO BE REQUIRED SHALL NOT
BE COMPLETE UNTIL SUCH DRAFT STATEMENT HAS BEEN FILED  AND  ACCEPTED  BY
THE  AGENCY AS SATISFACTORY WITH RESPECT TO SCOPE, CONTENT, AND ADEQUACY
FOR PURPOSES OF SUBDIVISION FOUR OF THIS SECTION.  COMMENCING UPON  SUCH
ACCEPTANCE, THE ECONOMIC IMPACT STATEMENT PROCESS SHALL RUN CONCURRENTLY
WITH OTHER PROCEDURES RELATING TO THE REVIEW AND APPROVAL OF THE ACTION,
SO  LONG  AS  REASONABLE  TIME  IS PROVIDED FOR PREPARATION, REVIEW, AND
PUBLIC HEARINGS WITH RESPECT TO THE DRAFT ECONOMIC IMPACT STATEMENT.
  6. TO THE EXTENT POSSIBLE,  THE  ECONOMIC  IMPACT  STATEMENT  PREPARED
PURSUANT  TO SUBDIVISION TWO OF THIS SECTION, TOGETHER WITH THE COMMENTS
OF PUBLIC AGENCIES AND MEMBERS OF THE PUBLIC, SHALL BE  FILED  WITH  THE
GOVERNING  BODY  OF  EACH  MUNICIPALITY FOR WHOSE BENEFIT SUCH AGENCY IS
ESTABLISHED AND MADE AVAILABLE TO THE PUBLIC  PRIOR  TO  ACTING  ON  THE
PROPOSAL WHICH IS THE SUBJECT OF THE ECONOMIC IMPACT STATEMENT.
  7.  AN  AGENCY  MAY  CHARGE A FEE TO AN APPLICANT TO RECOVER THE COSTS
INCURRED IN PREPARING OR CAUSING TO BE PREPARED  OR  REVIEWING  A  DRAFT
ECONOMIC  IMPACT STATEMENT OR AN ECONOMIC IMPACT STATEMENT ON THE ACTION
WHICH THE APPLICANT REQUESTS FROM THE AGENCY; PROVIDED, HOWEVER, THAT AN
APPLICANT MAY NOT BE CHARGED A SEPARATE FEE FOR BOTH THE PREPARATION AND
REVIEW OF SUCH STATEMENTS. THE TECHNICAL SERVICES OF THE AGENCY  MAY  BE
MADE AVAILABLE ON A FEE BASIS REFLECTING THE COSTS THEREOF TO A REQUEST-
ING AGENCY, WHICH FEE OR FEES MAY APPROPRIATELY BE CHARGED BY THE AGENCY
TO  THE APPLICANT UNDER RULES AND REGULATIONS TO BE ISSUED BY THE AGENCY
FOR SUCH PURPOSE UNDER SECTION EIGHT HUNDRED FIFTY-EIGHT OF THIS TITLE.
  8. WHEN AN AGENCY DECIDES TO CARRY OUT OR APPROVE AN ACTION WHICH  HAS
BEEN  THE  SUBJECT  OF  AN  ECONOMIC  IMPACT STATEMENT, IT SHALL MAKE AN
EXPLICIT FINDING THAT THE REQUIREMENTS OF THIS SECTION HAVE BEEN MET AND
THAT, CONSISTENT WITH SOCIAL, ECONOMIC, AND  OTHER  ESSENTIAL  CONSIDER-
ATIONS, TO THE MAXIMUM EXTENT PRACTICABLE, ADVERSE ECONOMIC, SOCIAL, AND
COMMUNITY EFFECTS REVEALED IN THE ECONOMIC IMPACT STATEMENT PROCESS WILL
BE MINIMIZED OR AVOIDED.
  9.  The  agency [must] SHALL hold a public hearing with respect to the
project and the proposed financial assistance being contemplated by  the
agency  AFTER  THE  COMPLETION  OF  THE FINAL ECONOMIC IMPACT STATEMENT.
[Said] SUCH public hearing shall be held in a  city,  town,  or  village
where  the  project  [proposes]  IS PROPOSED to [locate] BE LOCATED.  At
[said] SUCH public hearing, interested parties shall be provided reason-
able opportunity, both orally and in writing,  to  present  their  views
with  respect  to the project AND THE FINAL ECONOMIC IMPACT STATEMENT. A
PUBLIC HEARING MAY ONLY BE CONVENED IF TWO-THIRDS OF THE  BOARD  MEMBERS

S. 3441--A                         11

ARE PRESENT. IF NOT, SUCH PUBLIC HEARING SHALL NOT BE CONVENED AND SHALL
BE RESCHEDULED, SUBJECT TO THE SAME QUORUM REQUIREMENTS.
  [3]  10.  The  agency  must give at least ten days published notice of
[said] SUCH public hearing and shall, at the same time,  provide  notice
of  such  hearing  to  the  chief executive officer of each affected tax
jurisdiction within which the project is located. The notice of  hearing
must  state  the time and place of the hearing, contain a general, func-
tional description of the project, describe the prospective location  of
the  project,  identify  the  initial owner, operator, or manager of the
project, and generally describe the financial assistance contemplated by
the agency with respect to the project.  THE NOTICE OF HEARING  MUST  BE
PUBLISHED  IN  THE  STATE  REGISTER  AND THE WEBSITE OF THE AGENCY. SUCH
ASSISTANCE SHALL ALSO BE CONSISTENT WITH ENVIRONMENTAL PROTECTION,  SUCH
AS  OPEN SPACE PROTECTION, THAT WILL PROMOTE NEW DEVELOPMENT PATTERNS IN
ORDER TO TAKE ADVANTAGE OF RESOURCES AND OPPORTUNITIES, SUCH AS EXISTING
PUBLIC SEWER AND WATER INFRASTRUCTURE, WITHOUT COMPROMISING THE NEEDS OF
FUTURE GENERATIONS; AND LABOR PROTECTION, INCLUDING ALL FEDERAL,  STATE,
AND  LOCAL  LABOR LAWS, RULES OR REGULATIONS. THE AGENCY SHALL NOT GRANT
OR APPROPRIATE ASSISTANCE TO ANY ENTITY THAT HAS COMMITTED VIOLATIONS OF
ANY FEDERAL, STATE, OR LOCAL LAWS.
  S 8. Section 860 of the general municipal law,  as  added  by  chapter
1030 of the laws of 1969, is amended to read as follows:
  S  860.  Moneys of the agency. The agency shall have power to contract
with the holders of any of  its  bonds  or  notes  as  to  the  custody,
collection, securing, investment and payment of any moneys of the agency
or  any  moneys  held  in trust or otherwise for the payment of bonds or
notes or in any way to secure bonds or notes and to carry out  any  such
contract.  Moneys held in trust or otherwise for the payment of bonds or
notes or in any way to secure bonds or notes and deposits of such moneys
may be secured in the same manner as moneys of the agency, and all banks
and trust companies are authorized to give such security for such depos-
its.  ANY LEASE PAYMENTS, REVENUES, OR  OTHER  EARNINGS  OF  THE  AGENCY
SHALL  BE PAID TO THE LOCAL GOVERNING BODY OF THE MUNICIPALITY FOR WHOSE
BENEFIT SUCH AGENCY IS ESTABLISHED.
  S 9. Section 882 of the general municipal law, as amended  by  chapter
373  of the laws of 2012, is amended and a new section 882-a is added to
read as follows:
  S 882. Termination of the agency. Whenever all of the bonds  or  notes
issued  by  the  agency  shall  have been redeemed or cancelled, and all
straight-lease transactions have been terminated, the agency shall cease
to exist and all rights, titles, and interest and  all  obligations  and
liabilities thereof vested in or possessed by the agency shall thereupon
vest  in and be possessed by the municipality.  AFTER OCTOBER FIRST, TWO
THOUSAND FIFTEEN, NON-COUNTY  INDUSTRIAL  DEVELOPMENT  AGENCIES  CREATED
UNDER  TITLE  TWO OF THIS ARTICLE SHALL NOT BE ABLE TO ISSUE ANY FURTHER
BONDS OR NOTES.
  S 882-A. PROHIBITION OF LOCAL INDUSTRIAL  DEVELOPMENT  AGENCIES.    NO
FURTHER INDUSTRIAL DEVELOPMENT AGENCIES MAY BE CREATED UNLESS THEY ARE A
COUNTY-WIDE INDUSTRIAL DEVELOPMENT AGENCY.
  S  10. The general municipal law is amended by adding two new sections
885 and 885-a to read as follows:
  S 885. PREVAILING WAGE.  WHENEVER A RECIPIENT OF  INDUSTRIAL  DEVELOP-
MENT  AGENCY  FUNDS,  FINANCIAL ASSISTANCE, OR OTHER BENEFIT ENTERS INTO
ANY CONTRACT, SUBCONTRACT, LEASE, GRANT, BOND, COVENANT OR OTHER  AGREE-
MENT  FOR  OR  IN  CONNECTION  WITH ANY CONSTRUCTION, DEMOLITION, RECON-
STRUCTION, EXCAVATION, REHABILITATION, REPAIR,  RENOVATION,  ALTERATION,

S. 3441--A                         12

OR  IMPROVEMENT  PROJECT,  SUCH  PROJECT  SHALL BE DEEMED TO BE A PUBLIC
WORKS PROJECT FOR THE PURPOSES OF ARTICLE EIGHT OF THE  LABOR  LAW,  AND
ALL  OF THE PROVISIONS OF ARTICLE EIGHT OF THE LABOR LAW SHALL BE APPLI-
CABLE  TO  ALL THE WORK INVOLVED IN THE CONSTRUCTION, DEMOLITION, RECON-
STRUCTION, EXCAVATION, REHABILITATION, REPAIR,  RENOVATION,  ALTERATION,
OR  IMPROVEMENT  OF  SUCH  PROJECT.  FUNDS, FINANCIAL ASSISTANCE, OR ANY
OTHER BENEFITS PROVIDED PURSUANT TO THIS ARTICLE SHALL NOT  BE  UTILIZED
FOR  OR IN CONNECTION WITH THE CONSTRUCTION, DEMOLITION, RECONSTRUCTION,
EXCAVATION, REHABILITATION, REPAIR, RENOVATION, ALTERATION, OR  IMPROVE-
MENT  OF  ANY  PROJECT  TO  WHICH THE PROVISIONS OF ARTICLE EIGHT OF THE
LABOR LAW ARE NOT APPLICABLE.
  S 885-A.  RECAPTURE. IF A RECIPIENT ENTITY OF AGENCY  ASSISTANCE  DOES
NOT  ABIDE BY ANY PROVISION OF THIS ARTICLE OR REQUIREMENT MADE APPLICA-
BLE PURSUANT TO THE AUTHORITY OF THIS ARTICLE, IT SHALL PAY BACK TO  THE
AGENCY  THAT  FRACTION  OF  DEVELOPMENTAL ASSISTANCE THAT ACCRUED TO ITS
BENEFIT FOR THE CALENDAR YEAR IN WHICH THE BENEFIT OCCURRED, PLUS INTER-
EST AT A RATE DETERMINED BY THE GRANTING AGENCY. FOR ONE-TIME  FORMS  OF
ASSISTANCE  SUCH  AS GRANTS OR LAND PRICE DISCOUNTS, A DEFAULTING ENTITY
SHALL PAY BACK TO THE GRANTING AGENCY ONE-FIFTH OF THE VALUE OF  ASSIST-
ANCE.  REMITTANCE  OF  THE  PAYBACK  BY A RECIPIENT ENTITY TO A GRANTING
AGENCY SHALL TAKE PLACE WITHIN SIXTY CALENDAR DAYS OF  THE  DELIVERY  OF
THE DEFAULT NOTICE TO THE RECIPIENT ENTITY.
  S  11.  This  act shall take effect on the sixtieth day after it shall
have become a law.