senate Bill S5711

2021-2022 Legislative Session

Relates to the creation of a searchable database

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 16, 2021 referred to corporations, authorities and commissions

Co-Sponsors

S5711 (ACTIVE) - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add §57, UDC Act; amd §100, Ec Dev L
Versions Introduced in Other Legislative Sessions:
2017-2018: S6613
2019-2020: S2815

S5711 (ACTIVE) - Summary

Relates to the creation of a searchable database; requires the Urban Development Corporation to create or modify an existing searchable database including information on qualified participants receiving state economic development benefits.

S5711 (ACTIVE) - Sponsor Memo

S5711 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5711
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              March 16, 2021
                                ___________
 
 Introduced  by Sens. COMRIE, ADDABBO, SALAZAR, SKOUFIS -- read twice and
   ordered printed, and when printed to be committed to the Committee  on
   Corporations, Authorities and Commissions
 
 AN ACT to amend the New York state urban development corporation act and
   the economic development law, in relation to the creation of a search-
   able database

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 1 of chapter 174 of the laws of 1968,  constituting
 the  New  York  state  urban  development corporation act, is amended by
 adding a new section 57 to read as follows:
   § 57. REPORTING. (1) DEFINITIONS.  FOR THE PURPOSES OF  THIS  SECTION,
 THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "ECONOMIC DEVELOPMENT BENEFITS" SHALL MEAN:
   (I) THE AVAILABLE STATE RESOURCES INCLUDING, BUT NOT LIMITED TO, STATE
 GRANTS,  LOANS,  LOAN GUARANTEES, LOAN INTEREST SUBSIDIES, AND/OR SUBSI-
 DIES ALLOCATED THROUGH THE CORPORATION; AND
   (II) TAX CREDITS, TAX EXEMPTIONS OR REDUCED TAX RATES AND/OR  BENEFITS
 WHICH ARE APPLIED FOR AND PREAPPROVED OR CERTIFIED BY A STATE AGENCY;
   (B) "QUALIFIED PARTICIPANT" SHALL MEAN AN INDIVIDUAL, BUSINESS, OR ANY
 OTHER  ENTITY  THAT  HAS APPLIED FOR AND RECEIVED APPROVAL FOR AND/OR IS
 THE BENEFICIARY OF, ANY ECONOMIC DEVELOPMENT BENEFITS  OF  TEN  THOUSAND
 DOLLARS  OR  MORE  UNDER  ANY INDIVIDUAL ECONOMIC DEVELOPMENT PROGRAM OR
 PROJECT OVERSEEN BY THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION  OR
 ECONOMIC  DEVELOPMENT  BENEFITS  THAT  WERE  ORIGINALLY ALLOCATED TO THE
 CORPORATION OR THAT FLOW THROUGH THE CORPORATION;
   (C) "STATE AGENCY" SHALL MEAN ANY NEW YORK  STATE  DEPARTMENT,  BOARD,
 BUREAU, DIVISION, COMMISSION, COMMITTEE, PUBLIC AUTHORITY, PUBLIC CORPO-
 RATION,  COUNCIL, OFFICE OR OTHER STATE GOVERNMENTAL ENTITY PERFORMING A
 GOVERNMENTAL OR PROPRIETARY FUNCTION FOR THE STATE, AS WELL AS  ENTITIES
 CREATED  BY  ANY  OF  THE  PRECEDING  OR THAT ARE GOVERNED BY A BOARD OF
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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