Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to local government |
Mar 01, 2023 |
referred to local government |
Senate Bill S5279
2023-2024 Legislative Session
Sponsored By
(D, WF) 21st Senate District
Current 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) 32nd Senate District
2023-S5279 (ACTIVE) - Details
2023-S5279 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5279 SPONSOR: PARKER TITLE OF BILL: An act to amend the general municipal law, in relation to industrial development agencies PURPOSE: This bill establishes additional procedures to be followed by industrial development agencies prior to making industrial development loans. SUMMARY OF PROVISIONS: Section 1: The general municipal law is amended by adding a new section 859d. Section 2: This act shall take effect on the first of November next succeeding the date on which it shall have become a law.
2023-S5279 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5279 2023-2024 Regular Sessions I N S E N A T E March 1, 2023 ___________ Introduced by Sens. PARKER, SEPULVEDA -- 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 industrial development agencies THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The general municipal law is amended by adding a new section 859-d to read as follows: § 859-D. ADDITIONAL PROCEDURES FOR FINANCIAL ASSISTANCE. 1. PRIOR TO PROVIDING FINANCIAL ASSISTANCE, THE AGENCY SHALL FOLLOW CERTAIN PROCE- DURES WHICH MUST INCLUDE AT LEAST ALL OF THE FOLLOWING: (A) A DESCRIPTION OF THE DEVELOPMENT ASSISTANCE, INCLUDING THE AMOUNT AND TYPE. THE DESCRIPTION MUST INCLUDE THE FAIR MARKET VALUE OF THE DEVELOPMENT ASSISTANCE TO THE RECIPIENT, INCLUDING THE VALUE OF CONVEY- ING ANY PROPERTY AT LESS THAN A FAIR MARKET PRICE AND INCLUDING ANY OTHER IN-KIND BENEFITS TO THE PERSON RECEIVING THE DEVELOPMENT ASSIST- ANCE. (B) A STATEMENT SPECIFYING THE PUBLIC PURPOSE FOR THE DEVELOPMENT ASSISTANCE. THE PUBLIC PURPOSE SPECIFIED IN THE DEVELOPMENT ASSISTANCE AGREEMENT MAY NOT BE INCREASING THE TAX BASE. JOB RETENTION MAY BE SPEC- IFIED IN THE DEVELOPMENT ASSISTANCE AGREEMENT AS A PUBLIC PURPOSE ONLY IF JOB LOSS BY THE PERSON RECEIVING THE DEVELOPMENT ASSISTANCE IS IMMI- NENT AND DEMONSTRABLE. (C) THE GENERAL GOALS FOR THE DEVELOPMENT ASSISTANCE. (D) GOALS FOR THE NUMBER OF JOBS TO BE CREATED BY THE PERSON RECEIVING THE DEVELOPMENT ASSISTANCE DURING THE TWO YEARS FOLLOWING THE DATE THE DEVELOPMENT ASSISTANCE IS GRANTED. THE GOALS MAY INCLUDE SEPARATE GOALS FOR THE NUMBER OF PART-TIME JOBS AND FULL-TIME JOBS, AND IN CASES WHERE JOB LOSS IS IMMINENT AND DEMONSTRABLE, SEPARATE GOALS FOR THE NUMBER OF JOBS RETAINED. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07267-01-3 S. 5279 2
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