New York S 655: Enacts the accountability for development assistance act

Bill Text

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S00655 Summary:

BILL NOS00655A

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SAME ASNo Same As

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SPONSORKRUEGER

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COSPNSRBAILEY, LIU, PARKER

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MLTSPNSR

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Add §170-k, Exec L

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Enacts the accountability for development assistance act; standardizes applications for state development assistance; requires submission of certain development assistance agreements to the department of taxation and finance; requires recipients of certain development assistance to submit progress reports which include certain information and disclosures.

Go to top S00655 Actions:

BILL NOS00655A

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01/08/2025REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

01/07/2026REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

02/23/2026AMEND (T) AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

02/23/2026PRINT NUMBER 655A

Go to topS00655 Committee&nbspVotes:

Go to topS00655 Floor&nbspVotes:

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

Go to topS00655 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 655--A

 2025-2026 Regular Sessions

 IN SENATE

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by Sens. KRUEGER, BAILEY, LIU, PARKER -- read twice and
 ordered printed, and when printed to be committed to the Committee on
 Corporations, Authorities and Commissions -- 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 executive law, in relation to enacting the "account-
 ability for development assistance act"

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

 1 Section 1. Short title. This act shall be known and may be cited as
 2 the "accountability for development assistance act".
 3 § 2. The executive law is amended by adding a new section 170-k to
 4 read as follows:
 5 § 170-k. Accountability in economic development assistance provided by
 6 the state. 1. Definitions. As used in this section:
 7 (a) "Base years" means the first two complete calendar years following
 8 the effective date of a recipient receiving development assistance.
 9 (b) "Date of assistance" means the commencement date of the develop-
 10 ment assistance agreement, which date triggers the period during which
 11 the recipient is obligated to create or retain jobs and continue oper-
 12 ations at the specific project site.
 13 (c) "Development assistance" or "economic development assistance"
 14 means economic development benefits as such term is defined in section
 15 fifty-eight of the New York state urban development corporation act, or
 16 any portion thereof, provided however, that for the purposes of this
 17 section such term shall include any economic development benefits
 18 provided by a state or local authority as such terms are defined in
 19 section two of the public authorities law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00909-04-6

 S. 655--A 2

 1 (d) "Full-time, permanent job" means a job in which the new employee
 2 works for the recipient at a rate of at least thirty-five hours per
 3 week.
 4 (e) "New employee" means a full-time, permanent employee who repres-
 5 ents a net increase in the number of the recipient's employees state-
 6 wide. "New employee" may include an employee who previously filled a new
 7 employee position with the recipient who was rehired or called back from
 8 a layoff that occurs during or following the base years.
 9 The term "new employee" does not include any of the following:
 10 (1) An employee of the recipient who performs a job that was previous-
 11 ly performed by another employee in this state, if that job existed in
 12 this state for at least six months before hiring the employee.
 13 (2) A child, grandchild, parent, or spouse, other than a spouse who is
 14 legally separated from the individual, of any individual who has a
 15 direct or indirect ownership interest of at least five percent in the
 16 profits, capital, or value of any member of the recipient.
 17 (f) "Part-time job" means a job in which the new employee works for
 18 the recipient at a rate of less