New York S 4240: Relates to the Long Island Rail Road weekend reduced fare program

Bill Text

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S04240 Summary:

BILL NOS04240 

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SAME ASNo Same As

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SPONSORPARKER

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COSPNSR

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MLTSPNSR

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Amd §100, Ec Dev L

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Provides for the recovery of an economic development award in any case where a recipient relocates outside the state within five years of receiving such award; requires repayment of any such award shall be made pursuant to the timeframe specified in the award agreement.

Go to top S04240 Actions:

BILL NOS04240 

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02/03/2025REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS

01/07/2026REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS

05/20/20261ST REPORT CAL.1285

05/21/20262ND REPORT CAL.

05/26/2026ADVANCED TO THIRD READING 

06/05/2026COMMITTED TO RULES

Go to topS04240 Committee&nbspVotes:

Go to topS04240 Floor&nbspVotes:

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

Go to topS04240 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4240

 2025-2026 Regular Sessions

 IN SENATE

 February 3, 2025
 ___________

 Introduced by Sen. PARKER -- read twice and ordered printed, and when
 printed to be committed to the Committee on Commerce, Economic Devel-
 opment and Small Business

 AN ACT to amend the economic development law, in relation to including
 among the commissioner's duties a mandate to include in all economic
 development subsidy agreements provisions allowing the state to
 recover previously issued awards from fund recipients in the event of
 relocation outside the state

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

 1 Section 1. Subdivision 19 of section 100 of the economic development
 2 law is amended by adding a new paragraph (c) to read as follows:
 3 (c) to cause to be included in any contract, award agreement, memoran-
 4 dum of understanding, loan agreement or other such device used to trans-
 5 fer money of the state to a recipient through an economic development
 6 program of the state provisions requiring the repayment to the state by
 7 a fund recipient of any award in the event that such recipient relocates
 8 outside the state within five years from the date of receiving such
 9 award. Repayment of any award to the state shall be made pursuant to the
 10 time frame specified in the award agreement.
 11 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD07906-01-5

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