NY A10339

Adds definition of "automobile racing facility" to General Municipal Law as any closed-course motorsports complex and ancillary grounds that holds automobile racing exhibitions.

Grants the Schuyler County Industrial Development Agency power to acquire, construct, own, maintain, lease, or sell interests in automobile racing facilities operated wholly or partly within Schuyler County.

Authorizes the agency to finance automobile racing facilities through issuance of bonds and notes when deemed to promote job opportunities, tourism, economic welfare, and improve prosperity and standard of living.

Permits the agency to acquire buildings, structures, machinery, equipment, overnight accommodations, and other ancillary facilities necessary for construction, improvement, or operation of automobile racing facilities.

Takes effect immediately upon enactment.