NY S00184

Requires all state economic incentive contracts (awards, grants, loans, tax abatements) for job training, creation, retention, or business development to include specific terms: stated completion period, purpose and amount, number of persons to be trained or jobs to be created/retained, extent of facilities to be developed, and notice of recoupment provisions.

Makes all incentives subject to repayment with interest if recipients fail to fully execute and complete stated purposes within the agreed timeframe, with interest calculated at the underpayment rate set by the commissioner of taxation and finance from the date of disbursement.

Provides proportional refund requirements for partial non-compliance: recipients who create/retain some promised jobs refund only for unfulfilled jobs; recipients developing less than one-third of promised facilities must refund at least two-thirds of incentive; those developing two-thirds or less must refund at least one-third.

Allows awarding entities to waive repayment upon finding failure was caused by unforeseen circumstances beyond recipient's control and not due to bad faith or fraud (including adverse market conditions), with repayment deferrals up to five years and possible additional waivers.

Requires annual reports to the governor, legislature, and state comptroller detailing recipients who failed to complete terms, incentive amounts and types, determinations, repayment status, and any waivers granted.