S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2637
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 28, 2019
                                ___________
 
 Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 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
 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD06613-01-9

 S. 2637                             2
 
 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
 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

 S. 2637                             3

 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
 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

 S. 2637                             4
 
 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.
   § 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
 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

 S. 2637                             5
 
 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.
   § 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:
   (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;

 S. 2637                             6
 
   (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.
   §  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;
   § 5. The general municipal law is amended  by  adding  a  new  section
 858-c to read as follows:
   §  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
 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

 S. 2637                             7
 
 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.
   § 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.
   §  7.  Section 859-a of the general municipal law, as added by chapter
 356 of the laws of 1993, and subdivisions 4, 5 and 6 as added by chapter
 563 of the laws of 2015, is amended to read as follows:
   § 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-
 DITIOUSLY  AS  POSSIBLE.  Such  assistance  shall be consistent with the
 uniform tax exemption policy adopted by the agency pursuant to  subdivi-

 S. 2637                             8
 
 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
 ECONOMIC IMPACT STATEMENT), THE PREPARATION OF AN ECONOMIC IMPACT STATE-
 MENT UNDER THIS ARTICLE. THE AGENCY MAY REQUEST SUCH  OTHER  INFORMATION

 S. 2637                             9
 
 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.
   (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

 S. 2637                            10

 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
 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

 S. 2637                            11
 
 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.
   [4.]  11. Each agency shall develop a standard application form, which
 shall be used by the agency to accept requests for financial  assistance
 from  all individuals, firms, companies, developers or other entities or
 organizations. The standard application form shall be submitted by or on
 behalf of the applicant, and subscribed and affirmed under the penalties
 of perjury by the applicant, or on behalf of the applicant by the  chief
 executive  officer  or  such other individual that is duly authorized to
 bind the applicant, as true, accurate and complete to the best of his or
 her knowledge. The standard application form shall include  the  follow-
 ing,  and  may include such other supplemental information as determined
 to be necessary and appropriate  by  the  agency,  including  supporting
 documents and information provided by or on behalf of the applicant:
   (a) the name and address of the project applicant;
   (b)  a description of the proposed project for which financial assist-
 ance is requested, including the type of project, proposed location  and
 purpose of the project;
   (c)  the  amount  and  type  of  financial assistance being requested,
 including the estimated value of each type of tax exemption sought to be
 claimed by reason of agency involvement in the project;
   (d) a statement that there is a likelihood that the project would  not
 be  undertaken  but  for the financial assistance provided by the agency
 or, if the project could  be  undertaken  without  financial  assistance
 provided by the agency, a statement indicating why the project should be
 undertaken by the agency;
   (e)  an  estimate of capital costs of the project, including all costs
 of real property and equipment acquisition and building construction  or
 reconstruction, financed from private sector sources, an estimate of the
 percentage  of project costs financed from public sector sources, and an
 estimate of both the amount to be invested  by  the  applicant  and  the
 amount to be borrowed to finance the project.
   (f)  the  projected  number of full time equivalent jobs that would be
 retained and that would be created if the request for financial  assist-
 ance  is  granted, the projected timeframe for the creation of new jobs,
 the estimated salary and fringe benefit averages or ranges  for  catego-
 ries  of  the  jobs that would be retained or created if the request for
 financial assistance is granted, and an estimate of the number of  resi-
 dents  of  the  economic  development  region as established pursuant to
 section two hundred thirty of the economic development law or the  labor
 market  area  as  defined by the agency, in which the project is located
 that would fill such jobs. The labor market area defined by  the  agency

 S. 2637                            12
 
 for this purpose may include no more than six contiguous counties in the
 state, including the county in which the project is to be located;
   (g)  a  statement to the effect that the provisions of subdivision one
 of section eight hundred sixty-two of this [chapter] TITLE will  not  be
 violated if financial assistance is provided for the proposed project;
   (h)  a statement that the owner, occupant or operator receiving finan-
 cial assistance is in  substantial  compliance  with  applicable  local,
 state  and  federal tax, worker protection and environmental laws, rules
 and regulations; and
   (i) a statement acknowledging that the  submission  of  any  knowingly
 false  or  knowingly  misleading  information  may lead to the immediate
 termination of any financial assistance  and  the  reimbursement  of  an
 amount  equal  to all or part of any tax exemptions claimed by reason of
 agency involvement in the project.
   [5.] 12. Each agency shall develop, and adopt by  resolution,  uniform
 criteria  for the evaluation and selection for each category of projects
 for which financial assistance will  be  provided.  At  a  minimum,  the
 criteria  shall require that, for each project, the following must occur
 prior to the approval of the provision of financial assistance:
   (a) an assessment by the agency of all material  information  included
 in  connection  with the application for financial assistance, as neces-
 sary to afford a reasonable basis for the  decision  by  the  agency  to
 provide financial assistance for the project;
   (b)  a written cost-benefit analysis by the agency that identifies the
 extent to which a project  will  create  or  retain  permanent,  private
 sector  jobs;  the estimated value of any tax exemptions to be provided;
 the amount of private sector investment generated or likely to be gener-
 ated by the  proposed  project;  the  likelihood  of  accomplishing  the
 proposed  project  in  a  timely  fashion;  and  the extent to which the
 proposed project will provide additional sources of revenue for  munici-
 palities  and school districts; and any other public benefits that might
 occur as a result of the project;
   (c) a statement by the applicant that the project, as of the  date  of
 the  application,  is  in  substantial compliance with all provisions of
 this article including, but not  limited  to,  the  provisions  of  this
 section  and  subdivision one of section eight hundred sixty-two of this
 [chapter] TITLE; and
   (d) if the project involves the removal or abandonment of  a  facility
 or plant within the state, notification by the agency to the chief exec-
 utive officer or officers of the municipality or municipalities in which
 the facility or plant was located.
   [6.]  13. Each agency shall develop a uniform agency project agreement
 that sets forth terms and conditions under  which  financial  assistance
 shall be provided. The uniform agency project agreement shall be used by
 the  agency and no financial assistance shall be provided in the absence
 of the execution of such an agreement. The uniform agency project agree-
 ment shall, at a minimum:
   (a) describe the project and the financial assistance,  including  the
 amount and type, to be provided, and the agency purpose to be achieved;
   (b)  require each project owner, occupant or operator receiving finan-
 cial benefits to provide annually a certified statement  and  documenta-
 tion:    (i)  enumerating the full time equivalent jobs retained and the
 full time equivalent jobs created as a result of the  financial  assist-
 ance,  by  category, including full time equivalent independent contrac-
 tors or employees of independent contractors that work  at  the  project
 location,  and  (ii) indicating that the salary and fringe benefit aver-

 S. 2637                            13
 
 ages or ranges for categories of jobs retained and jobs created that was
 provided in the application is still accurate and if  it  is  not  still
 accurate, providing a revised list of salary and fringe benefit averages
 or ranges for categories of jobs retained and jobs created.
   (c)  indicate the dates when PILOT payments are to be made and provide
 an estimate of the amounts for each affected  tax  jurisdiction  of  any
 payments  in lieu of taxes that are included as part of the transaction,
 or formula or formulas by which those amounts may be calculated. In lieu
 of providing such information, a copy of an executed payment in lieu  of
 tax  agreement that contains the same information may be attached to the
 uniform agency project agreement;
   [(e)] (D) provide for the suspension or  discontinuance  of  financial
 assistance, or for the modification of any payment in lieu of tax agree-
 ment  to  require increased payments, in accordance with policies devel-
 oped by the agency pursuant to section  eight  hundred  seventy-four  of
 this title;
   [(f)]  (E)  provide  for  the return of all or a part of the financial
 assistance provided for the project, including all or part of the amount
 of any tax exemptions, which shall be redistributed to  the  appropriate
 affected  tax jurisdiction, as provided for in policies developed by the
 agency pursuant to section eight hundred  seventy-four  of  this  title,
 unless agreed to otherwise by any local taxing jurisdiction or jurisdic-
 tions; and
   [(g)]  (F)  provide  that  the  owner,  occupant or operator receiving
 financial assistance shall certify, under penalty of perjury, that it is
 in substantial compliance with all local, state and federal tax,  worker
 protection and environmental laws, rules and regulations.
   §  8.  Section  860  of the general municipal law, as added by chapter
 1030 of the laws of 1969, is amended to read as follows:
   § 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.
   §  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:
   §  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  TWENTY-ONE, NON-COUNTY INDUSTRIAL DEVELOPMENT AGENCIES CREATED
 UNDER TITLE TWO OF THIS ARTICLE SHALL NOT BE ABLE TO ISSUE  ANY  FURTHER
 BONDS OR NOTES.
   §  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. 2637                            14
 
   § 10. The general municipal law is amended by adding two new  sections
 885 and 885-a to read as follows:
   §  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,
 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.
   § 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.
   §  11.  This  act shall take effect on the sixtieth day after it shall
 have become a law; provided, however, that  the  provisions  of  section
 seven of this act shall take effect immediately.