Senate Bill S9140

2017-2018 Legislative Session

Relates to the creation of a searchable database

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Rules Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-S9140 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add §53, UDC Act; amd §100, Ec Dev L

2017-S9140 (ACTIVE) - Summary

Relates to the creation of a searchable database; establishes a searchable database that displays Empire state economic development benefits and other state economic development benefits that qualified participants have been awarded; defines terms.

2017-S9140 (ACTIVE) - Sponsor Memo

2017-S9140 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9140
 
                             I N  S E N A T E
 
                               July 27, 2018
                                ___________
 
 Introduced  by  Sen.  BOYLE  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the New York state urban development corporation act and
   the economic development law, in relation to the creation of a search-
   able database
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 1 of chapter 174 of the laws of 1968, constituting
 the New York state urban development  corporation  act,  is  amended  by
 adding a new section 53 to read as follows:
   §  53.  REPORTING.  (1) DEFINITIONS. FOR THE PURPOSES OF THIS SECTION,
 THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "ECONOMIC DEVELOPMENT BENEFITS" SHALL MEAN AND INCLUDE THE FOLLOW-
 ING:
   (I) AVAILABLE STATE RESOURCES AND/OR FUNDS INCLUDING, BUT NOT  LIMITED
 TO,  STATE  GRANTS,  LOANS,  LOAN  GUARANTEES,  LOAN INTEREST SUBSIDIES,
 AND/OR SUBSIDIES; AND/OR
   (II) TAX CREDITS, TAX EXEMPTIONS OR REDUCED TAX RATES AND/OR  BENEFITS
 WHICH  ARE  APPLIED  FOR AND PREAPPROVED OR CERTIFIED BY A STATE AGENCY;
 AND
   (A-1) "EMPIRE STATE ECONOMIC DEVELOPMENT BENEFITS"  SHALL  MEAN  THOSE
 ECONOMIC  DEVELOPMENT  BENEFITS  MADE AVAILABLE TO THE URBAN DEVELOPMENT
 CORPORATION AND/OR THE DEPARTMENT OF ECONOMIC DEVELOPMENT TO AWARD  SUCH
 BENEFITS TO QUALIFIED RECIPIENTS, OR THOSE ECONOMIC DEVELOPMENT BENEFITS
 WHICH  ARE  ALLOCATED  TO THE CORPORATION AND/OR SUCH DEPARTMENT BUT ARE
 SUBSEQUENTLY ALLOCATED TO ANOTHER  STATE  AGENCY  OR  OTHER  INDEPENDENT
 ENTITIES FOR THEM TO MAKE SUCH AWARDS TO QUALIFIED RECIPIENTS;
   (A-2) "AGGREGATE ECONOMIC DEVELOPMENT BENEFITS" SHALL MEAN THOSE BENE-
 FITS  PROVIDED  FOR  IN PARAGRAPHS (A) AND (A-1) OF THIS SUBDIVISION AND
 DISPLAYED SEPARATELY IN THE DATABASE CREATED PURSUANT TO SUBDIVISION TWO
 OF THIS SECTION;
   (B) "QUALIFIED PARTICIPANT" SHALL MEAN AN INDIVIDUAL, BUSINESS, LIMIT-
 ED LIABILITY CORPORATION OR ANY OTHER ENTITY THAT HAS  APPLIED  FOR  AND
 RECEIVED  APPROVAL  FOR  AND/OR  IS  THE  BENEFICIARY  OF, ANY AGGREGATE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

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