senate Bill S2177

2017-2018 Legislative Session

Authorizes recoupment of financial incentives awarded businesses upon failure to fulfill the terms of such incentive

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 03, 2018 referred to finance
Jan 12, 2017 referred to finance

Co-Sponsors

S2177 (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Executive Law
Laws Affected:
Add §163-b, Exec L
Versions Introduced in Other Legislative Sessions:
2009-2010: S1969
2011-2012: S2972
2013-2014: S1727
2015-2016: S3727
2019-2020: S2868
2021-2022: S184

S2177 (ACTIVE) - Summary

Authorizes recoupment by the state or any political subdivision of financial incentives such as awards, loans, grants or tax abatements, awarded businesses for purposes of job training, job creation or retention, or the development of business operations, upon recipient's failure to complete the terms of the incentive.

S2177 (ACTIVE) - Sponsor Memo

S2177 (ACTIVE) - Bill Text download pdf


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

                                  2177

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                            January 12, 2017
                               ___________

Introduced by Sen. ALCANTARA -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN  ACT  to  amend  the  executive law, in relation to the recoupment of
  economic incentives to businesses

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

  Section  1. The executive law is amended by adding a new section 163-b
to read as follows:
  § 163-B. RECOUPMENT OF ECONOMIC  INCENTIVES.  1.  NOTWITHSTANDING  ANY
INCONSISTENT PROVISION OF LAW, EACH CONTRACT, AGREEMENT OR UNDERSTANDING
BY  WHICH  A  PERSON,  FIRM, PARTNERSHIP, COMPANY, ASSOCIATION OR CORPO-
RATION RECEIVES AN AWARD, GRANT, LOAN, TAX ABATEMENT OR  OTHER  BUSINESS
INCENTIVE  FROM  THE  STATE,  ANY  OF ITS POLITICAL SUBDIVISIONS, OR ANY
DEPARTMENT, BUREAU, BOARD, COMMISSION, AUTHORITY, OR ANY OTHER AGENCY OR
INSTRUMENTALITY OF THE STATE  OR  ITS  POLITICAL  SUBDIVISIONS,  OR  ANY
PUBLIC  BENEFIT  CORPORATION  AS  DEFINED IN SUBDIVISION FOUR OF SECTION
SIXTY-SIX OF THE GENERAL CONSTRUCTION LAW, OR ANY MUNICIPAL  CORPORATION
AS DEFINED IN SUBDIVISION THREE OF SECTION THREE-A OF THE GENERAL MUNIC-
IPAL LAW FOR THE PURPOSES OF JOB TRAINING, JOB CREATION OR RETENTION, OR
THE  DEVELOPMENT  OF  ITS  OPERATION WITHIN THE STATE, SHALL CONTAIN THE
FOLLOWING PROVISIONS:
  (A) A STATED PERIOD OF TIME WITHIN WHICH THE TERMS  OF  THE  CONTRACT,
AGREEMENT OR UNDERSTANDING ARE TO BE FULLY EXECUTED AND COMPLETED;
  (B) A STATED PURPOSE AND THE AMOUNT OF THE AWARD, GRANT OR OTHER BUSI-
NESS INCENTIVE;
  (C)  WHERE APPLICABLE, THE NUMBER OF PERSONS TO BE TRAINED PURSUANT TO
THE TERMS OF THE CONTRACT, AGREEMENT OR UNDERSTANDING;
  (D) WHERE APPLICABLE, THE NUMBER OF JOBS TO  BE  CREATED  OR  RETAINED
PURSUANT TO THE TERMS OF THE CONTRACT, AGREEMENT OR UNDERSTANDING;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06938-01-7

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