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NY A00463
Bill
Status
1/5/2011
Primary Sponsor
James Brennan
Click for details
AI Summary
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Prohibits New York State, its agencies, and authorities from incurring debt or issuing bonds for the purpose or effect of aiding the relocation of any enterprise, business, or similar activity from an economically challenged neighborhood
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Defines an "economically challenged neighborhood" as an area with at least 2,000 people that meets three criteria: poverty rate of at least 20 percent, at least 20 percent of population receiving public assistance, and unemployment rate at least 1.25 times the statewide rate
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Includes contiguous census tracts to economically challenged neighborhoods within the definition, treating them as economically challenged neighborhoods themselves
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Takes effect immediately upon enactment
Legislative Description
Prohibits state borrowing where such borrowing would aid in the relocation of businesses from economically challenged neighborhoods; defines terms.
Last Action
referred to ways and means
1/5/2011