|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Mar 16, 2021||referred to corporations, authorities and commissions|
senate Bill S5711
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
S5711 (ACTIVE) - Details
S5711 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5711 SPONSOR: COMRIE TITLE OF BILL: An act to amend the New York state urban development corporation act and the economic development law, in relation to the creation of a searcha- ble database PURPOSE OF THE BILL: This bill would require the Urban Development Corporation to create and maintain a searchable State subsidy and economic development benefits database. SUMMARY OF SPECIFIC PROVISIONS: This bill would require the Urban Development Corporation with the Commissioner of Economic Development to establish a searchable State subsidy and economic development benefits database. The database would include the name and location of the participant, the time span of
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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