Assembly Bill A647

2019-2020 Legislative Session

Relates to certain requirements for economic development grant recipients

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-A647 (ACTIVE) - Details

Current Committee:
Assembly Economic Development
Law Section:
Economic Development Law
Laws Affected:
Amd §100, Ec Dev L; add §11-a, St Fin L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10730
2021-2022: A1243
2023-2024: A363

2019-A647 (ACTIVE) - Summary

Relates to certain requirements for economic development grant recipients; requires the submission of enumerated information.

2019-A647 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    647
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 9, 2019
                                ___________
 
 Introduced  by M. of A. BRONSON -- read once and referred to the Commit-
   tee on Economic Development
 
 AN ACT to amend the economic development law and the state finance  law,
   in  relation  to certain requirements for and restrictions on economic
   development grant recipients

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  This  act  shall  be  known and may be cited as the "jobs
 protection act".
   § 2. Subdivision 19 of section 100 of the economic development law  is
 amended by adding a new paragraph (c) to read as follows:
   (C)  TO  ADOPT  REGULATIONS IN ACCORDANCE WITH SECTION ELEVEN-A OF THE
 STATE FINANCE LAW, TO ESTABLISH THE TERMS AND CONDITIONS  OF  REPAYMENT,
 INCLUDING  SPECIFYING  THE  CONDITIONS  UNDER  WHICH  REPAYMENT  MAY  BE
 DEFERRED, FOLLOWING A DETERMINATION BY THE COMMISSION  OF  A  LEGITIMATE
 HARDSHIP.
   §  3. The state finance law is amended by adding a new section 11-a to
 read as follows:
   § 11-A. REQUIREMENTS FOR ECONOMIC DEVELOPMENT GRANT  RECIPIENTS.    1.
 ANY  PERSON  OR  BUSINESS  ORGANIZATION  THAT RECEIVES AN AWARD OR GRANT
 THROUGH ANY ECONOMIC DEVELOPMENT PROGRAM, WHERE SUCH AWARD OR GRANT ALSO
 REQUIRES THE CREATION OF JOBS, SHALL NOT REDUCE THE NUMBER OF  EMPLOYEES
 WHO  WERE  EMPLOYED WITHIN THE STATE AT THE TIME SUCH PERSON OR BUSINESS
 ORGANIZATION ACCEPTED THE FINANCIAL  ASSISTANCE  FOR  FIVE  YEARS  AFTER
 RECEIVING  SUCH  ASSISTANCE  OR  DURING  THE TERM OF THE AWARD OR GRANT,
 WHICHEVER IS LONGER, UNLESS THE FULL AMOUNT OF ASSISTANCE IS  REPAID  TO
 THE  STATE  AND  A PENALTY EQUAL TO FIVE PERCENT OF THE TOTAL ASSISTANCE
 RECEIVED IS PAID TO THE STATE. AS USED IN THIS SECTION, THE TERM  "BUSI-
 NESS" SHALL INCLUDE ANY DIVISION OF A BUSINESS OR SUBSIDIARY INSTITUTION
 CONTROLLED, DIRECTLY OR INDIRECTLY, BY ANOTHER INSTITUTION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

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