Senate Bill S3061

2019-2020 Legislative Session

Establishes an interstate compact prohibiting company-specific subsidies

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

2019-S3061 (ACTIVE) - Details

See Assembly Version of this Bill:
A5249
Current Committee:
Senate Finance
Law Section:
State Finance Law
Laws Affected:
Add Art 17 §§250 - 257, St Fin L

2019-S3061 (ACTIVE) - Summary

Provides that no compacting state shall permit company-specific subsidies and shall not provide any company-specific subsidy to any company whose headquarters, manufacturing facilities, office space or other real estate developments are located in their state or to incentivize any company to locate their headquarters, manufacturing facilities, office space or other real estate developments in their state.

2019-S3061 (ACTIVE) - Sponsor Memo

2019-S3061 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3061
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2019
                                ___________
 
 Introduced  by  Sen. SALAZAR -- read twice and ordered printed, and when
   printed to be committed to the Committee on Finance
 
 AN ACT to amend the state finance law, in relation to creating an inter-
   state compact prohibiting company-specific subsidies
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The state finance law is amended by adding a new article 17
 to read as follows:
                                ARTICLE 17
                      INTERSTATE COMPACT PROHIBITING
                        COMPANY-SPECIFIC SUBSIDIES
 SECTION 250. SHORT TITLE; PURPOSE.
         251. DEFINITIONS.
         252. COMPACT.
         253. ESTABLISHMENT OF THE BOARD.
         254. ENTRY INTO COMPACT, WITHDRAWAL AND TERMINATION.
         255. AMENDMENTS TO THE COMPACT.
         256. CONSTRUCTION AND SEVERABILITY.
         257. ADMINISTRATION; EXPENSES.
   §  250.  SHORT  TITLE; PURPOSE. THIS ARTICLE SHALL BE KNOWN AND MAY BE
 CITED AS THE "INTERSTATE COMPACT PROHIBITING COMPANY-SPECIFIC SUBSIDES".
 THE PURPOSE OF THIS COMPACT IS, THROUGH MEANS OF JOINT  AND  COOPERATIVE
 ACTION AMONG THE COMPACTING STATES, TO ELIMINATE COMPANY-SPECIFIC SUBSI-
 DIES.
   § 251. DEFINITIONS. AS USED IN THIS COMPACT, UNLESS THE CONTEXT CLEAR-
 LY  INDICATES  OTHERWISE,  THE  FOLLOWING TERMS SHALL HAVE THE FOLLOWING
 MEANINGS:
   1. "COMPANY-SPECIFIC SUBSIDY" SHALL MEAN COMPANY-SPECIFIC  TAX  INCEN-
 TIVES  INCLUDING ANY CHANGE IN THE GENERAL TAX RATE OR VALUATION OFFERED
 OR PRESENTED BY THE STATE TO A SPECIFIC COMPANY THAT IS NOT AVAILABLE TO
 OTHER SIMILARLY SITUATED COMPANIES AND COMPANY-SPECIFIC GRANTS INCLUDING

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

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.