S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7086
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 21, 2021
                                ___________
 
 Introduced by M. of A. McDONALD -- read once and referred to the Commit-
   tee on Local Governments
 
 AN  ACT  to  amend  the  public authorities law, in relation to updating
   certain references with respect to  the  Troy  Industrial  Development
   Authority,  eliminating an automatic corporate termination clause when
   all bonds have been repaid, allowing the Troy  Industrial  Development
   Authority  to  deposit  and  manage its own funds and accounts, adding
   certain retail restrictions and making certain technical corrections
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  1  of section 1951 of the public authorities
 law, as added by chapter 759 of the laws of 1967, is amended to read  as
 follows:
   1.  The  term  "authority"  shall mean the Troy Industrial Development
 Authority, the corporation created by  section  nineteen  hundred  [two]
 FIFTY-TWO of this title;
   § 2. Section 1952 of the public authorities law, as separately amended
 by  chapters  195  and  357  of  the laws of 1993, is amended to read as
 follows:
   § 1952. Troy industrial development authority. A board to be known  as
 the  "Troy  industrial  development  authority"  is hereby created. Such
 board shall be a body corporate and politic, constituting a public bene-
 fit corporation and its existence shall commence upon the appointment of
 the members as herein provided. Its members shall consist of  a  [chair-
 man]  CHAIR  and  eight other members, all of whom shall be appointed by
 the [city manager] MAYOR of the city for a  term  of  three  years,  and
 shall  include two members of the common council of the city, one repre-
 sentative of the city school board, and one representative from each  of
 the  fields  of  business,  industry and labor. Every appointment to the
 board shall be subject to confirmation by  the  common  council  of  the
 city. The [chairman] CHAIR and each member shall continue to serve until
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD10753-01-1

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 the  appointment  and confirmation of his OR HER successor. Vacancies in
 such board occurring otherwise than  by  expiration  of  term  shall  be
 filled by the [city manager] MAYOR by appointment for the unexpired term
 subject  to  confirmation  by  the common council of the city. The [city
 manager] MAYOR may remove the [chairman] CHAIR  or  any  member  of  the
 board  for  inefficiency, neglect of duty or misconduct in office, after
 giving him OR HER a copy of the charges against him OR HER and an oppor-
 tunity of being heard in person, or by counsel, in his  OR  HER  defense
 upon  not  less  than ten days' notice. Such removal must be approved by
 the city council of the city. The members of the board shall be entitled
 to  no  compensation  for  their  services  but  shall  be  entitled  to
 reimbursement  for  their  actual and necessary expenses incurred in the
 performance of their official duties.  Notwithstanding any  inconsistent
 provisions  of law, general, special or local, no officer or employee of
 the city shall be deemed to have forfeited or shall forfeit his  OR  HER
 office or employment by reason of his OR HER acceptance of membership on
 the  board created by this section, provided, however, that a member who
 holds such other public office or employment shall receive no additional
 compensation or allowance for services rendered pursuant to this  title,
 but  shall be entitled to reimbursement for his OR HER actual and neces-
 sary expenses incurred in the performance of such services. The power of
 the authority shall be vested in and exercised  by  a  majority  of  the
 members  of  the  board. Such a board may delegate to one or more of its
 members, or to its officers,  agents  and  employees,  such  powers  and
 duties  as  it  may  deem proper. Such board and its corporate existence
 shall continue [until July  first,  nineteen  hundred  ninety-eight  and
 thereafter  until  all  its liabilities have been met and its bonds have
 been paid in full or such  liabilities  or  bonds  have  otherwise  been
 discharged]  IN  ACCORDANCE WITH SECTION NINETEEN HUNDRED SIXTY-SEVEN OF
 THIS TITLE.  Upon its ceasing to exist, all rights and properties  shall
 pass to and be vested in the city.
   §  3.  The opening paragraph of section 1953 of the public authorities
 law, as amended by chapter 907 of the laws of 1972, is amended  to  read
 as follows:
   The  purposes of the authority shall be to promote, develop, encourage
 and assist in the acquiring,  constructing,  reconstructing,  improving,
 maintaining,  equipping  and furnishing industrial, manufacturing, ware-
 house, [and] commercial AND  research  facilities  including  industrial
 pollution  control  facilities,  transportation facilities including but
 not limited to those relating to water, highway, rail and air, in one or
 more areas of the city, particularly but not exclusively at the site  of
 what  was  formerly  the  Troy  airport including an airstrip or airport
 located in the southern section of the city and thereby advance the  job
 opportunities,  health,  general  prosperity and economic welfare of the
 people of said city and to improve their standard of  living;  provided,
 however,  that  the  authority  shall  not  undertake any project if the
 completion thereof would result in the removal of an industrial or manu-
 facturing plant of the project occupant from one area of  the  state  to
 another area of the state or in the abandonment of one or more plants or
 facilities  of the project applicant located within the state, provided,
 however, that neither restriction shall apply  if  the  authority  shall
 determine  on the basis of the application before it that the project is
 reasonably necessary to discourage the project  occupant  from  removing
 such  other  plant  or  facility  to  a location outside the state or is
 reasonably necessary to preserve the competitive position of the project
 occupant in its respective industry. EXCEPT AS OTHERWISE PROVIDED FOR IN

 A. 7086                             3
 
 THIS SECTION, NO FINANCIAL ASSISTANCE OF THE AUTHORITY SHALL BE PROVIDED
 IN RESPECT OF ANY PROJECT WHERE FACILITIES OR PROPERTY THAT ARE PRIMARI-
 LY USED IN MAKING RETAIL SALES TO CUSTOMERS WHO  PERSONALLY  VISIT  SUCH
 FACILITIES CONSTITUTE MORE THAN ONE-THIRD OF THE TOTAL PROJECT COST. FOR
 THE  PURPOSES OF THIS ARTICLE, "RETAIL SALES" SHALL MEAN: (I) SALES BY A
 REGISTERED VENDOR UNDER ARTICLE TWENTY-EIGHT OF THE  TAX  LAW  PRIMARILY
 ENGAGED  IN THE RETAIL SALE OF TANGIBLE PERSONAL PROPERTY, AS DEFINED IN
 SUBPARAGRAPH (I) OF PARAGRAPH FOUR OF SUBDIVISION (B) OF SECTION  ELEVEN
 HUNDRED  ONE  OF THE TAX LAW; OR (II) SALES OF A SERVICE TO SUCH CUSTOM-
 ERS.  EXCEPT, HOWEVER, THAT TOURISM DESTINATION PROJECTS  SHALL  NOT  BE
 PROHIBITED  BY THIS PARAGRAPH. FOR THE PURPOSE OF THIS PARAGRAPH, "TOUR-
 ISM DESTINATION" SHALL MEAN A LOCATION OR FACILITY WHICH  IS  LIKELY  TO
 ATTRACT  A  SIGNIFICANT  NUMBER  OF  VISITORS  FROM OUTSIDE THE ECONOMIC
 DEVELOPMENT REGION AS ESTABLISHED BY SECTION TWO HUNDRED THIRTY  OF  THE
 ECONOMIC DEVELOPMENT LAW IN WHICH THE PROJECT IS LOCATED.
   NOTWITHSTANDING  THE  PROVISIONS OF THIS SECTION TO THE CONTRARY, SUCH
 FINANCIAL ASSISTANCE MAY, HOWEVER, BE PROVIDED TO A PROJECT WHERE FACIL-
 ITIES OR PROPERTY THAT ARE PRIMARILY USED  IN  MAKING  RETAIL  SALES  OF
 GOODS  OR SERVICES TO CUSTOMERS WHO PERSONALLY VISIT SUCH FACILITIES  TO
 OBTAIN SUCH GOODS OR SERVICES CONSTITUTE  MORE  THAN  ONE-THIRD  OF  THE
 TOTAL  PROJECT  COST,  WHERE: (I) THE PREDOMINANT PURPOSE OF THE PROJECT
 WOULD BE TO MAKE AVAILABLE GOODS OR SERVICES WHICH WOULD  NOT,  BUT  FOR
 THE  PROJECT,  BE  REASONABLY ACCESSIBLE TO THE RESIDENTS OF THE CITY OF
 TROY BECAUSE OF A LACK OF REASONABLY ACCESSIBLE RETAIL TRADE  FACILITIES
 OFFERING  SUCH  GOODS  OR  SERVICES; OR (II) THE PROJECT IS LOCATED IN A
 HIGHLY DISTRESSED AREA.  WITH RESPECT TO PROJECTS AUTHORIZED PURSUANT TO
 THIS PARAGRAPH NO PROJECT SHALL BE APPROVED UNLESS THE  AUTHORITY  SHALL
 FIND  AFTER  THE PUBLIC HEARING REQUIRED BY SECTION TWENTY-THREE HUNDRED
 SEVEN OF THIS CHAPTER THAT UNDERTAKING THE PROJECT WILL SERVE THE PUBLIC
 PURPOSES OF THIS ARTICLE BY PRESERVING PERMANENT, PRIVATE SECTOR JOBS OR
 INCREASING THE OVERALL NUMBER OF PERMANENT, PRIVATE SECTOR JOBS  IN  THE
 STATE.    WHERE  THE  AUTHORITY MAKES SUCH A FINDING, PRIOR TO PROVIDING
 FINANCIAL ASSISTANCE TO THE PROJECT BY THE AUTHORITY, THE  CHIEF  EXECU-
 TIVE  OFFICER  OF  THE CITY OF TROY SHALL CONFIRM THE PROPOSED ACTION OF
 THE AUTHORITY. To carry out said  purposes,  the  authority  shall  have
 power:
   §  4.  Subdivisions  4 and 7 of section 1953 of the public authorities
 law, as added by chapter 759 of the laws of 1967, are amended to read as
 follows:
   4. To acquire by purchase, grant, lease, gift, condemnation, or other-
 wise and to use, real property or rights or easements therein  necessary
 for  its  corporate  purposes,  and  to  sell,  convey, mortgage, lease,
 pledge, exchange or otherwise dispose  of  any  such  property  in  such
 manner  as  the authority shall determine. With respect to real property
 conveyed to it by the city, however, such power of disposition shall  be
 limited  as  hereinafter  provided  in  section  nineteen hundred [five]
 FIFTY-FIVE of this title;
   7. To appoint officers, agents and employees, to prescribe their qual-
 ifications and to fix their compensation and to  pay  the  same  out  of
 funds of the authority, subject, however, to the provisions of the civil
 service  law  as  hereinafter  provided in section nineteen hundred [and
 four] FIFTY-FOUR of this title;
   § 5. Subdivision 1 of section 1955 of the public authorities  law,  as
 added by chapter 759 of the laws of 1967, is amended to read as follows:
   1.  The city may, by duly adopted resolution of the city council or by
 instruments authorized by  such  resolution,  convey,  with  or  without

 A. 7086                             4
 
 consideration,  to the authority real and personal property owned by the
 city for use by the authority as a project. In case of real property  so
 conveyed,  the  title thereto shall remain in the city but the authority
 shall  have the use thereof for so long as its corporate existence shall
 continue and said real property shall be under its jurisdiction, control
 and supervision within the ambit of section nineteen hundred  [thirteen]
 SIXTY-THREE  of  this  title  and  exempt from all taxes and assessments
 except such payments in lieu thereof as may be contained in such  resol-
 ution or instrument of conveyance.
   § 6. Section 1956 of the public authorities law, as amended by chapter
 907 of the laws of 1972, is amended to read as follows:
   §  1956.  Construction  and  purchase contracts. The provisions of law
 relating to the requirement  of  public  bidding  with  respect  to  the
 construction of public facilities or projects shall not be applicable to
 the acquisition, construction, reconstruction, improvement, maintenance,
 equipping and furnishing of projects authorized by this [act] TITLE.
   § 7. Section 1957 of the public authorities law, as amended by chapter
 907 of the laws of 1972, is amended to read as follows:
   §  1957.  Moneys  of  the authority. All moneys of the authority, from
 whatever source derived, shall be paid to  the  [treasurer]  AUTHORITY'S
 APPOINTED CHIEF FINANCIAL OFFICER of the city as agent of the authority,
 who  shall  not commingle such moneys with any other moneys. Such moneys
 shall be deposited in a separate bank account or accounts. The moneys in
 such accounts shall be paid out by the [treasurer] AUTHORITY'S APPOINTED
 CHIEF FINANCIAL OFFICER on requisition of the [chairman]  CHAIR  of  the
 authority  or of such person as the authority may authorize to make such
 requisitions [after audit by and upon the warrant of  the  comptroller].
 All deposits of such moneys shall, if required by the [treasurer or the]
 authority,  be  secured  by  obligations  of a market value equal at all
 times to the amount of the deposit, and all banks  and  trust  companies
 are  authorized to give such security for such deposits. The [treasurer]
 COMPTROLLER OF THE CITY and his  OR  HER  legally  authorized  represen-
 tatives  are  authorized  and empowered from time to time to examine the
 accounts and books of the authority, including its  receipts,  disburse-
 ments,  contracts,  leases,  sinking  funds,  investments  and any other
 records and papers relating to its financial standing.    The  authority
 shall  have  power,  notwithstanding  the provisions of this section, to
 contract with the holders of  any  of  its  bonds  as  to  the  custody,
 collection,  securing,  investment  and  payment  of  any  moneys of the
 authority or any moneys held in trust or otherwise for  the  payment  of
 bonds  or in any way to secure bonds, and to carry out any such contract
 notwithstanding that such contract may be inconsistent with the previous
 provisions of this section. Moneys held in trust or  otherwise  for  the
 payment  of  bonds  or  in  any way to secure bonds and deposits of such
 moneys may be secured in the same manner as moneys of the authority, and
 all banks and trust companies are authorized to give such  security  for
 such  deposits.  The  accounts  of the authority shall be subject to the
 supervision of the state comptroller and he OR SHE or his OR HER legally
 authorized representatives are hereby authorized and empowered from time
 to time to examine the accounts and books of  the  authority,  including
 its  receipts,  disbursements, contracts, sinking funds, investments and
 any other matter relating to its financial standing and fiscal  affairs.
 The  authority shall render a complete annual account of its proceedings
 to the city council at its first meeting in [February] APRIL of each and
 every year.

 A. 7086                             5
 
   § 8. Paragraph (i) of subdivision 3 of  section  1958  of  the  public
 authorities law, as added by chapter 759 of the laws of 1967, is amended
 to read as follows:
   (i) vesting in a trustee or trustees such property, rights, powers and
 duties  in trust as the authority may determine which may include any or
 all the rights, powers and duties of the trustees appointed by the bond-
 holders pursuant  to  section  nineteen  hundred  [and  fifteen  hereof]
 SIXTY-FIVE  OF  THIS  TITLE, and limiting or abrogating the right of the
 bondholders to appoint a trustee under  said  section  or  limiting  the
 rights, duties and powers of trustee; AND
   §  9.  Section 1967 of the public authorities law, as added by chapter
 759 of the laws of 1967, is amended to read as follows:
   § 1967. Termination of the authority. Whenever all of the bonds issued
 by the  authority  shall  have  been  redeemed  or  cancelled,  AND  ALL
 STRAIGHT-LEASE  TRANSACTIONS  HAVE  BEEN TERMINATED, the authority shall
 cease to exist and all rights, titles, and interest and all  obligations
 and  liabilities  thereof  vested in or possessed by the authority shall
 thereupon vest in and be possessed by the city of Troy.
   § 10. This act shall take effect immediately.