Senate Bill S2869

2023-2024 Legislative Session

Relates to requiring financial reports for real property acquired by the state, including any agencies and authorities, through eminent domain

download bill text pdf

Sponsored By

Current Bill Status - On Floor Calendar


  • 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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2023-S2869 (ACTIVE) - Details

Law Section:
Eminent Domain Procedure Law
Laws Affected:
Add §306, EDP L
Versions Introduced in Other Legislative Sessions:
2015-2016: S5415
2017-2018: S5185
2019-2020: S2805
2021-2022: S5829

2023-S2869 (ACTIVE) - Summary

Requires financial reports for real property acquired by the state, including any agencies and authorities, through eminent domain.

2023-S2869 (ACTIVE) - Sponsor Memo

2023-S2869 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2869
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 25, 2023
                                ___________
 
 Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Judiciary
 
 AN ACT to amend the eminent domain procedure law, in relation to requir-
   ing financial reports for real property acquired by the state, includ-
   ing any agencies and authorities, through eminent domain

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The eminent domain procedure law is amended by adding a new
 section 306 to read as follows:
   §  306.  FINANCIAL IMPACT REPORTS. NOTWITHSTANDING ANY OTHER PROVISION
 OF LAW TO THE CONTRARY, ANY CONTRACT ENTERED INTO  BY  A  STATE  AGENCY,
 STATE  AUTHORITY  OR  A  LOCAL  DEVELOPMENT CORPORATION UNDER WHICH SUCH
 LOCAL DEVELOPMENT CORPORATION IS ENGAGED IN PROVIDING  OR  ADMINISTERING
 ECONOMIC DEVELOPMENT BENEFITS ON BEHALF OF THE STATE AND EXPENDING STATE
 CAPITAL  APPROPRIATIONS  IN  CONNECTION  WITH ANY PROJECT OR ACTION THAT
 INVOKES THE POWER OF EMINENT DOMAIN PURSUANT  TO  THIS  CHAPTER  ON  THE
 BASIS  OF  ECONOMIC DEVELOPMENT, AS DETERMINED BY JUDICIAL REVIEW, SHALL
 BE ACCOMPANIED BY A FINANCIAL IMPACT REPORT. SUCH REPORT SHALL  INCLUDE,
 BUT  NOT  BE LIMITED TO (I) AN ANALYSIS OF THE ESTIMATED COSTS AND BENE-
 FITS OF THE PROPOSED PROJECT OR ACTION; (II)  THE  ESTIMATED  AMOUNT  OF
 RETAINED  OR  ADDITIONAL  TAX  REVENUE  ESTIMATED TO BE DERIVED FROM THE
 PROJECT FOR THE NEXT THREE SUCCEEDING YEARS; (III) THE AMOUNT OF ASSIST-
 ANCE RECEIVED BY THE LOCAL DEVELOPMENT CORPORATION  IN  THE  FORM  OF  A
 LOAN,  GRANT,  OR TAX BENEFIT SINCE THE BEGINNING OF THE PROJECT PERIOD;
 AND (IV) THE PRESENT VALUE OF THE  FUTURE  ASSISTANCE  ESTIMATED  TO  BE
 GIVEN  FOR  THE  DURATION  OF  THE  PROJECT PERIOD. WHERE SUCH REPORT IS
 PREPARED BY A LOCAL DEVELOPMENT CORPORATION, THE STATE AGENCY  OR  STATE
 AUTHORITY,  IN  CONSULTATION  WITH SUCH OTHER STATE AGENCIES AS IT DEEMS
 APPROPRIATE, SHALL REVIEW  SUCH  REPORT  AND  MAKE  RECOMMENDATIONS,  IF
 NECESSARY.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04638-01-3
              

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