|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2020||referred to corporations, authorities and commissions|
|Feb 06, 2019||referred to corporations, authorities and commissions|
senate Bill S3364
Current Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3364 (ACTIVE) - Details
- See Assembly Version of this Bill:
- Current Committee:
- Senate Corporations, Authorities And Commissions
- Law Section:
- Business Corporation Law
- Laws Affected:
- Add Art 14 §§1401 - 1404, BC L
- Versions Introduced in Other Legislative Sessions:
S3364 (ACTIVE) - Sponsor Memo
BILL NUMBER: S3364 SPONSOR: KRUEGER TITLE OF BILL: An act to amend the business corporation law, in relation to enacting the unified economic development budget act PURPOSE: Directs the Division of the Budget to prepare an annual Unified Economic Development Budget that outlines the aggregate amounts of State invest- ments in economic development projects statewide, the benefactors of these investments and the number of jobs businesses created or retained as a result of this development assistance. SUMMARY OF PROVISIONS: Section 1. Short title. § 2. The Business Corporation Law is amended by adding a new article 14. § 1401. Definitions.
S3364 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3364 2019-2020 Regular Sessions I N S E N A T E February 6, 2019 ___________ Introduced by Sens. KRUEGER, LIU, SERRANO -- read twice and ordered printed, and when printed to be committed to the Committee on Corpo- rations, Authorities and Commissions AN ACT to amend the business corporation law, in relation to enacting the unified economic development budget act THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "unified economic development budget act". § 2. The business corporation law is amended by adding a new article 14 to read as follows: ARTICLE 14 UNIFIED ECONOMIC DEVELOPMENT BUDGET SECTION 1401. DEFINITIONS. 1402. UNIFIED ECONOMIC DEVELOPMENT BUDGET. 1403. STANDARDIZED APPLICATIONS FOR STATE DEVELOPMENT ASSIST- ANCE. 1404. STATE DEVELOPMENT ASSISTANCE DISCLOSURE. § 1401. DEFINITIONS. AS USED IN THIS ARTICLE: (A) "ANNUAL TAX EXPENDITURE REPORT" IS AS DEFINED BY SECTION ONE HUNDRED EIGHTY-ONE OF THE EXECUTIVE LAW. (B) "BASE YEARS" MEANS THE FIRST TWO COMPLETE CALENDAR YEARS FOLLOWING THE EFFECTIVE DATE OF A RECIPIENT RECEIVING DEVELOPMENT ASSISTANCE. (C) "DATE OF ASSISTANCE" MEANS THE COMMENCEMENT DATE OF THE ASSISTANCE AGREEMENT, WHICH DATE TRIGGERS THE PERIOD DURING WHICH THE RECIPIENT IS OBLIGATED TO CREATE OR RETAIN JOBS AND CONTINUE OPERATIONS AT THE SPECIFIC PROJECT SITE. (D) "DEVELOPMENT ASSISTANCE" MEANS: (1) TAX EXPENDITURES GIVEN AS AN INCENTIVE TO RECIPIENT BUSINESSES, NOT-FOR-PROFIT ORGANIZATIONS AND GOVERNMENT ENTITIES FOR ECONOMIC DEVELOPMENT PURPOSES; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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