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NY A08874
Bill
Status
6/12/2009
Primary Sponsor
James Brennan
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AI Summary
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Prohibits New York State, its agencies, and authorities from incurring debt or issuing bonds that would aid in relocating any enterprise, business, or similar activity from an economically challenged neighborhood.
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Defines "economically challenged neighborhood" as an area with at least 2,000 people constituting one or more census tracts meeting all 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 adjacent to qualifying economically challenged neighborhoods within the definition.
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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
held for consideration in ways and means
7/1/2010