NY S05160

Repeals Title 12 of Article 15-B of the General Municipal Law relating to urban renewal agencies and transfers all records, property, rights, titles and interests to the respective municipalities upon dissolution.

Dissolves and transfers assets of 6 urban renewal agencies: Tarrytown, Haverstraw, Johnson City, Oneonta, Riverside, and Albion to their respective municipalities.

Dissolves and transfers assets of 27 industrial development agencies across New York State to their respective municipalities and towns, including agencies in Ossining, Willsboro, Amenia, Jamestown, and many others.

Declares the state's interest in preventing proliferation of moribund public benefit corporations and ensuring orderly dissolution with assets transferred to the municipalities that created them.

Takes effect 60 days after the bill becomes law.