Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Jan 08, 2020 |
referred to local government |
Mar 20, 2019 |
referred to local government |
Senate Bill S4675
2019-2020 Legislative Session
Sponsored By
(D) 42nd Senate District
Archive: Last Bill Status - In Senate Committee Local Government 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
Actions
co-Sponsors
(D, WF) 37th Senate District
(D, WF) Senate District
(D, WF) 28th Senate District
2019-S4675 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7284
- Current Committee:
- Senate Local Government
- Law Section:
- General Municipal Law
- Laws Affected:
- Amd §874, Gen Muni L
2019-S4675 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4675 SPONSOR: SKOUFIS TITLE OF BILL: An act to amend the general municipal law, in relation to requiring the return of all or a part of the financial assistance provided for a project where the project has material shortfalls or material violations PURPOSE OR GENERAL IDEA OF BILL: Local industrial development agencies (IDAs) are already required to develop policies for the return of payments or incentives given to projects that fail to deliver on their job or other commitments, and are required to annually evaluate whether projects are meeting their commit- ments. However, IDAs are not-required to use the results of their analy- sis to seek the return of incentives from under-performing projects. This bill would require that local IDAs seek the return of incentives or financial assistance. SUMMARY OF PROVISIONS:
2019-S4675 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4675 2019-2020 Regular Sessions I N S E N A T E March 20, 2019 ___________ Introduced by Sens. SKOUFIS, MAYER -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the general municipal law, in relation to requiring the return of all or a part of the financial assistance provided for a project where the project has material shortfalls or material violations THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 11 of section 874 of the general municipal law, as added by chapter 563 of the laws of 2015, is amended to read as follows: (11) Each agency shall develop policies 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, as specified in the policy, which may include but shall not be limited to material shortfalls in job creation and retention projections or material violations of the terms and conditions of project agreements. THE AGENCY SHALL IMPLEMENT SUCH POLICIES CREATED IN ACCORDANCE WITH THIS SUBDIVISION TO RETURN ALL OR PART OF THE FINANCIAL ASSISTANCE PROVIDED FOR ANY PROJECT WHERE THE AGENCY'S ANNUAL ASSESSMENT OF A PROJECT SHOWS MATERIAL SHORTFALLS IN JOB CREATION AND RETENTION PROJECTIONS OR MATERIAL VIOLATIONS OF THE TERMS AND CONDITIONS OF PROJECT AGREEMENTS. All such returned amounts of tax exemptions shall be redistributed to the appropriate affected tax juris- diction, unless agreed to otherwise by any local taxing jurisdiction. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10674-01-9
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