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NY A01056
Bill
Status
1/8/2025
Primary Sponsor
Jonathan Rivera
Click for details
AI Summary
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Repeals subdivision 18 of section 854 of the general municipal law relating to industrial development agency financial assistance requirements
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Removes the provision allowing retail-focused projects to receive financial assistance from industrial development agencies if located in a "highly distressed area"
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Maintains the exception allowing financial assistance for retail projects when goods or services would not otherwise be reasonably accessible to local residents due to lack of retail facilities
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Takes effect immediately upon enactment
Legislative Description
Repeals provisions related to requiring projects be located in a highly distressed area in order to qualify for certain financial assistance from an industrial development agency.
Last Action
referred to local governments
1/7/2026