Assembly Bill A2568

2019-2020 Legislative Session

Establishes infrastructure financing districts

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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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2019-A2568 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Economic Development Law
Laws Affected:
Add Art 23 §§450 - 459, Ec Dev L
Versions Introduced in Other Legislative Sessions:
2015-2016: A6645
2017-2018: A665
2021-2022: A4114

2019-A2568 (ACTIVE) - Summary

Establishes infrastructure financing districts; provides for electoral mechanism for such establishment; sets conditions on authorized projects within such districts.

2019-A2568 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2568
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 23, 2019
                                ___________
 
 Introduced  by M. of A. RODRIGUEZ, BICHOTTE, BUCHWALD, MOSLEY, CROUCH --
   Multi-Sponsored by -- M. of A. THIELE -- read once and referred to the
   Committee on Ways and Means
 
 AN ACT to amend the economic development law, in relation to  establish-
   ing infrastructure financing districts

   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 23 to read as follows:
                                ARTICLE 23
                    INFRASTRUCTURE FINANCING DISTRICTS
 SECTION 450. DEFINITIONS.
         451. REVENUE USAGE.
         452. PERMITTED PROJECTS.
         453. ADDITIONAL FACILITIES OR SERVICES.
         454. DISTRICT DESIGNATION CHALLENGES.
         455. DISTRICT ESTABLISHMENT.
         456. INFRASTRUCTURE PLAN.
         457. PUBLIC HEARING.
         458. TAXATION.
         459. BOND ISSUANCE.
   §  450. DEFINITIONS.   FOR THE PURPOSES OF THIS ARTICLE, THE FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   1. "AFFECTED TAXING ENTITY" MEANS ANY GOVERNMENTAL TAXING AGENCY WHICH
 LEVIED OR HAD LEVIED ON ITS BEHALF A PROPERTY TAX ON ALL OR A PORTION OF
 THE PROPERTY LOCATED IN THE PROPOSED DISTRICT IN THE FISCAL  YEAR  PRIOR
 TO THE DESIGNATION OF SUCH DISTRICT.
   2. "DISTRICT" MEANS AN INFRASTRUCTURE FINANCING DISTRICT.
   3.  "INFRASTRUCTURE  FINANCING  DISTRICT"  MEANS A LEGALLY CONSTITUTED
 GOVERNMENTAL ENTITY ESTABLISHED PURSUANT TO THIS ARTICLE  FOR  THE  SOLE
 PURPOSE OF FINANCING PUBLIC FACILITIES.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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