NY A07617

Prohibits formation of any new industrial development agencies in Erie County, notwithstanding existing state law authorizing their creation.

Centralizes tax exemption authority so only projects undertaken by the Erie County Industrial Development Agency may receive exemptions from state sales tax, county real property tax, village real property tax, school district real property tax, and mortgage recording tax.

Allows town industrial development agencies in Erie County to transfer their rights, obligations, duties, and assets to the Erie County Industrial Development Agency through cooperative agreements.

Makes existing town industrial development agencies in Lancaster, Clarence, and Amherst subject to the new restrictions, with the county agency's authority controlling in case of conflicts.

Exempts projects approved by town industrial development agencies before the bill's effective date from these new restrictions.