Senate Bill S1275A

2021-2022 Legislative Session

Establishes a local authorities searchable subsidy and economic development benefits database

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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

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Actions
Votes

Bill Amendments

co-Sponsors

2021-S1275 - Details

Current Committee:
Assembly Economic Development
Law Section:
Public Authorities Law
Laws Affected:
Add §8, amd §2807, Pub Auth L; add §859-d, Gen Muni L; amd §1411, N-PC L
Versions Introduced in Other Legislative Sessions:
2011-2012: S2854
2013-2014: S3446
2015-2016: S2669
2017-2018: S3354
2019-2020: S3364
2023-2024: S1737

2021-S1275 - Summary

Establishes a local authorities searchable subsidy and economic development benefits database; relates to the obligations of certain industrial development agencies and local development corporations.

2021-S1275 - Sponsor Memo

2021-S1275 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1275
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              January 8, 2021
                                ___________
 
 Introduced by Sens. KRUEGER, BIAGGI, GOUNARDES, LIU, SERRANO, 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 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.
              

co-Sponsors

2021-S1275A (ACTIVE) - Details

Current Committee:
Assembly Economic Development
Law Section:
Public Authorities Law
Laws Affected:
Add §8, amd §2807, Pub Auth L; add §859-d, Gen Muni L; amd §1411, N-PC L
Versions Introduced in Other Legislative Sessions:
2011-2012: S2854
2013-2014: S3446
2015-2016: S2669
2017-2018: S3354
2019-2020: S3364
2023-2024: S1737

2021-S1275A (ACTIVE) - Summary

Establishes a local authorities searchable subsidy and economic development benefits database; relates to the obligations of certain industrial development agencies and local development corporations.

2021-S1275A (ACTIVE) - Sponsor Memo

2021-S1275A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1275--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              January 8, 2021
                                ___________
 
 Introduced  by  Sens.  KRUEGER,  BIAGGI,  GOUNARDES,  LIU, MAY, SERRANO,
   SKOUFIS -- read twice and ordered printed,  and  when  printed  to  be
   committed  to  the  Committee on Corporations, Authorities and Commis-
   sions -- recommitted to the Committee on Corporations, Authorities and
   Commissions in accordance with Senate Rule  6,  sec.  8  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN  ACT to amend the public authorities law, in relation to establishing
   a local authorities searchable subsidy and economic development  bene-
   fits  database; to amend the general municipal law, in relation to the
   obligations of certain industrial development agencies; and  to  amend
   the  not-for-profit  corporation  law,  in  relation  to the status of
   certain local development corporations
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.    The  public  authorities law is amended by adding a new
 section 8 to read as follows:
   § 8. LOCAL AUTHORITIES SEARCHABLE  SUBSIDY  AND  ECONOMIC  DEVELOPMENT
 BENEFITS  DATABASE.  (1) FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "ECONOMIC DEVELOPMENT BENEFITS" SHALL MEAN:
   (I) FUNDS MADE AVAILABLE BY A LOCAL AUTHORITY, INCLUDING WITHOUT LIMI-
 TATION ANY ENTITY CREATED  INCORPORATED  PURSUANT  TO  SECTION  FOURTEEN
 HUNDRED  ELEVEN  OF  THE  NOT-FOR-PROFIT  CORPORATION  LAW, FOR ECONOMIC
 DEVELOPMENT, OR JOB CREATION PURPOSES INCLUDING,  BUT  NOT  LIMITED  TO,
 GRANTS,  LOANS, LOAN GUARANTEES, LOAN INTEREST SUBSIDIES, AND SUBSIDIES;
 AND
   (II) TAX CREDITS, TAX EXEMPTIONS,  REDUCED  TAX  RATES  OR  OTHER  TAX
 INCENTIVES  WHICH  ARE APPLIED FOR AND PREAPPROVED OR CERTIFIED BY OR ON
 BEHALF OF A LOCAL AUTHORITY, INCLUDING  WITHOUT  LIMITATION  ANY  ENTITY
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05752-02-2
 S. 1275--A                          2
              

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