New York S 10270: Relates to financial assistance from an industrial development agency; repealer

Bill Text

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S10270 Summary:

BILL NOS10270 

&nbsp

SAME ASSAME AS A01056

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SPONSORSKOUFIS

&nbsp

COSPNSR

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MLTSPNSR

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Rpld §854 sub 18, amd §862, Gen Muni L

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Repeals provisions related to requiring projects be located in a highly distressed area in order to qualify for certain financial assistance from an industrial development agency.

Go to top S10270 Actions:

BILL NOS10270 

&nbsp

05/11/2026REFERRED TO LOCAL GOVERNMENT

Go to topS10270 Committee&nbspVotes:

Go to topS10270 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS10270 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10270

 IN SENATE

 May 11, 2026
 ___________

 Introduced by Sen. SKOUFIS -- 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 financial
 assistance from an industrial development agency; and to repeal
 certain provisions of such law relating thereto

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision 18 of section 854 of the general municipal law
 2 is REPEALED.
 3 § 2. Paragraph (b) of subdivision 2 of section 862 of the general
 4 municipal law, as added by section 1 of part J of chapter 59 of the laws
 5 of 2013, is amended to read as follows:
 6 (b) Notwithstanding the provisions of paragraph (a) of this subdivi-
 7 sion, financial assistance may, however, be provided to a project where
 8 facilities or property that are primarily used in making retail sales of
 9 goods or services to customers who personally visit such facilities to
 10 obtain such goods or services constitute more than one-third of the
 11 total project cost, where[: (i)] the predominant purpose of the project
 12 would be to make available goods or services which would not, but for
 13 the project, be reasonably accessible to the residents of the city,
 14 town, or village within which the proposed project would be located
 15 because of a lack of reasonably accessible retail trade facilities
 16 offering such goods or services[; or (ii) the project is located in a
 17 highly distressed area].
 18 § 3. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00441-01-5

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