New York S 3368: Relates to enhanced aid and incentives for municipalities

Bill Text

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S03368 Summary:

BILL NOS03368 

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SAME ASNo Same As

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SPONSORSKOUFIS

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COSPNSR

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MLTSPNSR

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Rpld §859 sub 3, amd Gen Muni L, generally; amd Pub Auth L, generally; add §206, amd §1411, N-PC L

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Relates to the purposes and powers of industrial development agencies and to improving the accountability and transparency of such agencies; makes conforming changes to the general municipal law; extends the bond issuance charge to the debt issued by not-for-profit corporations acting on behalf of the state or its political subdivisions; relates to the purposes and powers of local development corporations and certain other not-for-profit corporations thereof.

Go to top S03368 Actions:

BILL NOS03368 

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01/27/2025REFERRED TO LOCAL GOVERNMENT

01/07/2026REFERRED TO LOCAL GOVERNMENT

Go to topS03368 Committee&nbspVotes:

Go to topS03368 Floor&nbspVotes:

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

Go to topS03368 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3368

 2025-2026 Regular Sessions

 IN SENATE

 January 27, 2025
 ___________

 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 and the public authorities
 law, in relation to the purposes and powers of industrial development
 agencies and to improve the accountability and transparency of such
 agencies; to amend the public authorities law, in relation to extend-
 ing the bond issuance charge to the debt issued by not-for-profit
 corporations acting on behalf of the state or its political subdivi-
 sions; to amend the not-for-profit corporation law, in relation to the
 purposes and powers of local development corporations and certain
 other not-for-profit corporations thereof; and to repeal subdivision 3
 of section 859 of the general municipal law relating to an evaluation
 of the activities of industrial development agencies and authorities
 in the state prepared by an entity independent of the department

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

 1 Section 1. Subdivisions 4 and 14 of section 854 of the general munici-
 2 pal law, subdivision 4 as amended by section 5 of part X of chapter 59
 3 of the laws of 2021 and subdivision 14 as added by chapter 356 of the
 4 laws of 1993, are amended and a new subdivision 22 is added to read as
 5 follows:
 6 (4) "Project" - shall mean any land, any building or other improve-
 7 ment, and all real and personal properties located within the state of
 8 New York and within or outside or partially within and partially outside
 9 the municipality for whose benefit the agency was created, including,
 10 but not limited to, machinery, equipment and other facilities deemed
 11 necessary or desirable in connection therewith, or incidental thereto,
 12 whether or not now in existence or under construction, which shall be
 13 suitable for manufacturing, warehousing, research, civic, commercial,
 14 renewable energy or industrial purposes or other economically sound
 15 purposes identified and called for to implement a state designated urban

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06420-01-5

 S. 3368 2

 1 cultural park management plan as provided in title G of the parks,
 2 recreation and historic preservation law and which may include or mean
 3 an industrial pollution control facility, a recreation facility, educa-
 4 tional or cultural facility, a horse racing facility, a railroad facili-
 5 ty, a renewable energy project, a continuing care retirement community,
 6 or a civic facility, provided, however, that, of agencies governed by
 7 this article, only agencies created for the benefit of a county and the
 8 agency created for the benefit for the city of New York shall provide
 9 financial assistance in any respect to a continuing care retirement
 10 community, or an automobile racing facility, provided, however, no agen-
 11 cy shall use its funds or provide financial assistance in respect of any
 12 project wholly or partially outside the municipality for whose benefit
 13 the agency was created wi