NY A02560

Defines "in development" as a project where active construction has commenced, including site clearing, excavation, or erection of building foundations or structures.

Prohibits the use of state agency funds, financial incentives, or subsidies for any project already in development at the time of application, except where environmental contamination discovered during development significantly increases project costs.

Prohibits the issuance of tax exemptions to projects already in development at the time of application, with the same exception for discovered environmental contamination requiring significant cost increases.

Takes effect immediately upon enactment.