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

A09114 Summary:

Add Art 26 §§480 - 483, Ec Dev L
Establishes the strategic site readiness fund within the department of economic development to cultivate a resource of commercial, industrial sites that are readily available to new businesses, established businesses that are considering moving to the state, or existing businesses within the state that need additional sites to remain or expand within the state; appropriates five hundred million dollars therefor.
Go to top

A09114 Text:

                STATE OF NEW YORK
                   IN ASSEMBLY
                                    January 31, 2022
        Introduced  by M. of A. JONES -- read once and referred to the Committee
          on Economic Development
        AN ACT to amend the economic development law, in relation to  establish-
          ing  the  strategic  site  readiness fund; and making an appropriation
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  The  economic  development law is amended by adding a new
     2  article 26 to read as follows:
     3                                 ARTICLE 26
     4                        STRATEGIC SITE READINESS FUND
     5  Section 480. Legislative intent.
     6          481. Administration.
     7          482. Strategic site readiness fund.
     8          483. Reporting.
     9    § 480. Legislative intent. It is hereby found and  declared  that  New
    10  York  state needs, as a matter of public policy, to cultivate a resource
    11  of commercial, industrial sites that are readily available to new  busi-
    12  nesses, established businesses that are considering moving to the state,
    13  or  existing  businesses  within the state that need additional sites to
    14  remain or expand within the state. To expand and sustain economic growth
    15  within the state, it is critical to consistently maintain readily avail-
    16  able commercial, industrial sites to attract  new  business,  or  expand
    17  existing  businesses. Without a stable inventory of sites that are ready
    18  or able to be developed in a timely manner for business use,  the  delay
    19  in  converting  undeveloped  sites  capable  of  conducting  business in
    20  compliance with applicable regulations  and  ordinances  may  cause  the
    21  state  to lose significant business opportunities that would benefit the
    22  economic well-being of its citizens.
    23    § 481. Administration. In furtherance of these purposes,  the  depart-
    24  ment is hereby authorized and directed to:
    25    (a)  Establish  the  strategic site readiness fund ("fund") to provide
    26  economic assistance for renovation, construction, or other  improvements
    27  to  infrastructure  to  attract  new businesses to this state, or expand
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.

        A. 9114                             2
     1  existing businesses in this state, when  such  an  economic  development
     2  opportunity would create quality, full-time jobs within the state;
     3    (b)  Develop an application process for municipalities and counties to
     4  access funding for qualifying projects and promulgate a list of qualify-
     5  ing expenses, including but not limited to costs related to land  acqui-
     6  sition,  land  assembly,  design,  zoning, engineering, permitting, site
     7  utility, broadband, transportation, enabling, and demolition;
     8    (c) Include in the application process, a requirement for each project
     9  to include a strategy to ensure residents in the surrounding area of the
    10  project will have access to the jobs created by the project;
    11    (d) Develop rules and regulations to distribute  funding  through  the
    12  regional  economic  development  councils in accordance with section two
    13  hundred thirty-one of this chapter; and
    14    (e) Develop rules and regulations to ensure  compliance  with  article
    15  fifteen-A of the executive law.
    16    §  482. Strategic site readiness fund. (a) There is hereby established
    17  in the joint custody of the state comptroller and  the  commissioner  of
    18  taxation  and  finance a special fund to be known as the "strategic site
    19  readiness fund".
    20    (b) Money allocated to the strategic site readiness fund shall be kept
    21  separate and shall not be commingled with any other funds in the custody
    22  of the state comptroller.
    23    (c) Such fund shall consist of all monies appropriated,  credited,  or
    24  transferred thereto from any other fund or source pursuant to law.
    25    §  483.  Reporting.  (a)  The  department shall, annually on or before
    26  December first, prepare and submit an annual report to the governor  and
    27  the  chair of the assembly ways and means committee and the chair of the
    28  senate finance committee. Such report shall contain  at  a  minimum  the
    29  following  information:  (i)  a  list  of  all applications filed by any
    30  public entity for a grant under the fund including the name of the enti-
    31  ty, a brief description of the project, and  the  amount  of  the  grant
    32  requested; (ii) a list of the applications granted by the board specify-
    33  ing  the  amount  of the grant approved if such amount is different from
    34  the amount applied for; and (iii) a statement showing the dollar  amount
    35  of  all  grants approved and the dollar amount of the remaining capacity
    36  for future grants.
    37    (b) Any eligible public entity receiving  a  grant  pursuant  to  this
    38  article  shall  report to the department no later than June first on the
    39  use of funding received and its programmatic and  economic  impact.  The
    40  department  shall  submit  a  report no later than November first to the
    41  governor, the director of the budget, the  temporary  president  of  the
    42  senate,  and  the speaker of the assembly on the aggregate impact of the
    43  fund. Such report shall provide information on the progress and economic
    44  impact of each project.
    45    § 2.  The sum of five hundred million  dollars  ($500,000,000)  to  be
    46  distributed  in  the  2023  fiscal  year  is  hereby appropriated to the
    47  department of economic development out of any moneys in the state treas-
    48  ury in the general fund to the credit of the local  assistance  account,
    49  not  otherwise  appropriated,  and  made  immediately available, for the
    50  purpose of carrying out the provisions of this act.
    51    § 3. This act shall take effect immediately.
Go to top