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.
STATE OF NEW YORK
________________________________________________________________________
1056
2025-2026 Regular Sessions
IN ASSEMBLY
January 8, 2025
___________
Introduced by M. of A. RIVERA -- read once and referred to the Committee
on Local Governments
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2 is REPEALED.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
