•  Summary 
  •  
  •  Actions 
  •  
  •  Committee Votes 
  •  
  •  Floor Votes 
  •  
  •  Memo 
  •  
  •  Text 
  •  
  •  LFIN 
  •  
  •  Chamber Video/Transcript 

A05200 Summary:

BILL NOA05200
 
SAME ASSAME AS S01655
 
SPONSORSolages
 
COSPNSR
 
MLTSPNSR
 
Amd §§862 & 874, Gen Muni L
 
Prevents the use of funds, financial incentives, subsidies or tax exemptions for projects where the occupier of the project is not disclosed.
Go to top    

A05200 Actions:

BILL NOA05200
 
02/12/2021referred to local governments
01/05/2022referred to local governments
Go to top

A05200 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A5200
 
SPONSOR: Solages
  TITLE OF BILL: An act to amend the general municipal law, in relation to preventing the use of funds, financial incentives, subsidies or tax exemptions for project occupants which are not public   PURPOSE OR GENERAL IDEA OF BILL:: This bill would prohibit industrial development agencies (IDAs) from giving financial assistance to projects where the project occupant is kept secret from the public. Taxpayers should know which companies their money is going to support.   SUMMARY OF PROVISIONS:: Section 1: Adds a new subdivision to section 862 of the general munici- pal law stating that IDAs may not give financial incentives or subsidies to a project in which the project occupant is not publicly disclosed at the time of the required public hearing for the project. Section 2: Adds a new subdivision to section 874 of the general munici- pal law stating that IDAs may not grant tax exemptions to a project in which the project occupant is not publicly disclosed at the time of the required public hearing for the project. Section 3: Effective date.   JUSTIFICATION: Each year, local industrial development agencies grant millions of dollars of financial assistance in the form of tax incentives, payment in lieu of taxes (PILOT) agreements,. and others, to projects seeking assistance. Sometimes, these incentives are given out with out any way for the public to know what company is receiving them. For example, in the Town of Montgomery in Orange County, the local IDA is offering incentives to developers of a 1-million square foot ware- house. Although the developers have indicated they will pass the bene- fits of the incentives to the future occupant of the warehouse, they are refusing to identify which company that will be even though they admit that the occupant is known to them. New Yorkers have a right to know what companies are getting publicly- funded incentives or sales tax exemptions. This bill would prohibit IDAs from giving incentives or exemptions to a project unless the occupant of the project is publicly known.   PRIOR LEGISLATIVE HISTORY:: 2019-20: print number A7256; referred to local governments   FISCAL IMPLICATIONS:: None.   EFFECTIVE DATE: This act shall take effect immediately.
Go to top

A05200 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5200
 
                               2021-2022 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 12, 2021
                                       ___________
 
        Introduced  by M. of A. SOLAGES -- read once and referred to the Commit-
          tee on Local Governments
 
        AN ACT to amend the general municipal law, in relation to preventing the
          use of funds, financial incentives, subsidies or  tax  exemptions  for
          project occupants which are not public

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1.  Section 862 of the general municipal  law  is  amended  by
     2  adding a new subdivision 3 to read as follows:
     3    (3) No funds, financial incentives or subsidies of the agency shall be
     4  used  in respect of any project in which the project occupant as defined
     5  in section eighteen hundred one of the public  authorities  law  is  not
     6  publicly  disclosed  at  the  time of the public hearing for the project
     7  required by subdivision two of section  eight  hundred  fifty-nine-a  of
     8  this title.
     9    §  2.  Section 874 of the general municipal law is amended by adding a
    10  new subdivision 13 to read as follows:
    11    (13) No tax exemptions shall be granted to any project if the  project
    12  occupant  as  defined  in  section  eighteen  hundred  one of the public
    13  authorities law is not publicly disclosed at  the  time  of  the  public
    14  hearing  for  the  project  required by subdivision two of section eight
    15  hundred fifty-nine-a of this title.
    16    § 3. This act shall take effect immediately.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05814-01-1
Go to top