New York A 2636: Establishes a local authorities searchable subsidy and economic development benefits database

Bill Text

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A02636 Summary:

BILL NOA02636 

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SAME ASNo Same As

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SPONSORSolages

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COSPNSRMitaynes, Bichotte Hermelyn, Simon

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MLTSPNSR

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Amd §§8 & 2807, Pub Auth L; add §859-c, Gen Muni L; amd §1411, N-PC L

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Establishes a local authorities searchable subsidy and economic development benefits database; relates to the obligations of certain industrial development agencies and local development corporations.

Go to top A02636 Actions:

BILL NOA02636 

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01/21/2025referred to corporations, authorities and commissions

01/07/2026referred to corporations, authorities and commissions

Go to topA02636 Committee&nbspVotes:

Go to topA02636 Floor&nbspVotes:

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

Go to topA02636 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2636

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 21, 2025
 ___________

 Introduced by M. of A. SOLAGES, MITAYNES, BICHOTTE HERMELYN, SIMON --
 read once and referred to the Committee on Corporations, Authorities
 and Commissions

 AN ACT to amend the public authorities law, in relation to establishing
 a local authorities searchable subsidy and economic development bene-
 fits database; to amend the general municipal law, in relation to the
 obligations of certain industrial development agencies; and to amend
 the not-for-profit corporation law, in relation to the status of
 certain local development corporations

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

 1 Section 1. Section 8 of the public authorities law, as added by
 2 section 1 of subpart A of part SS of chapter 58 of the laws of 2024, is
 3 amended to read as follows:
 4 § 8. Local authorities searchable subsidy and economic development
 5 benefits database. 1. For the purposes of this section, the following
 6 terms shall have the following meanings:
 7 (a) "Economic development benefits" shall mean:
 8 (i) funds made available by a local development corporation for
 9 economic development, or job creation purposes including, but not limit-
 10 ed to, grants, loans, loan guarantees, loan interest subsidies, and
 11 subsidies, and bonds; and
 12 (ii) [bonds and tax exemptions which are applied for and preapproved
 13 or certified by or on behalf of an industrial development agency] tax
 14 credits, tax exemptions, reduced tax rates or other tax incentives which
 15 are applied for and preapproved or certified by or on behalf of a local
 16 authority, including without limitation any entity created incorporated
 17 pursuant to section fourteen hundred eleven of the not-for-profit
 18 corporation law, for economic development.
 19 (b) "Additional state economic development benefits" shall mean those
 20 economic development benefits made available to the local authority,

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04412-01-5

 A. 2636 2

 1 including without limitation any entity created incorporated pursuant to
 2 section fourteen hundred eleven of the not-for-profit corporation law,
 3 by a state entity to award such benefits to qualified recipients.
 4 (c) "Qualified participant" shall mean a project operator pursuant to
 5 section eight hundred seventy-four of the general municipal law with a
 6 project pursuant to section eight hundred fifty-four of the general
 7 municipal law.
 8 [(c)] (d) "Full-time equivalent" shall mean a unit of measure, which
 9 is equal to one filled, full-time, annual-salaried position in a manner
 10 consistent with federal calculations.
 11 [(d)] (e) "The office" shall mean the authorities budget office.
 12 [(e)] (f) "The database" or "the searchable database" shall mean the
 13 database created pursuant to subdivision two of this section.
 14 [(f)] (g) "The project" shall mean specific work, action, endeavor,
 15 contract or agreement for which any economic benefit as defined in para-
 16 graph (a) of this subdivision, is made available or awarded by a local
 17 development corporation or industrial development agency to a person,
 18 business, limited liability corporation or any other entity.
 19 2. Notwithstanding any laws to the contrary, the office shall create a
 2