NY A00022

Requires agencies to develop and implement policies for returning all or part of financial assistance (including tax exemptions) when projects show material shortfalls in job creation/retention or violate project agreement terms and conditions.

Mandates agencies conduct annual assessments of projects and document any policy deviations with detailed explanations posted on their websites and noted in the public authorities reporting information system (PARIS) report.

Prohibits granting tax exemptions to projects already in development at the time of application, except where significant project cost increases are discovered or municipal property tax reassessments result in significant tax increases.

Prevents use of agency funds, financial incentives, or subsidies for projects already in development at application time, with the same exceptions for significant cost increases or property tax reassessments.

Defines "in development" as projects where active construction and building foundation/structure erection have commenced and all required permits have been issued.