NY A00650

Prohibits industrial development agencies from providing funds, financial incentives, or subsidies to projects that are already "in development" at the time of application

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

Bars tax exemptions from being granted to any project already in development when the application is submitted

Creates an exception allowing funding or tax exemptions if environmental contamination is discovered during development that significantly increases project costs

Takes effect immediately upon passage