NY A01601

Prohibits the formation of any new industrial development agencies within Erie county

Limits tax exemption authority in Erie county so that only projects undertaken by the Erie County Industrial Development Agency may receive exemptions from state sales tax (4%), local sales taxes (3% plus additional 1% and 0.75%), real property taxes, and mortgage recording taxes

Allows town industrial development agencies to grant county, village, and school district real property tax exemptions only with consent of the Erie County Industrial Development Agency or the relevant taxing jurisdiction on a project-by-project basis

Authorizes existing town industrial development agencies in Erie county (Lancaster, Clarence, Amherst, Hamburg) to enter into cooperative agreements transferring their rights, obligations, duties, and assets to the Erie County Industrial Development Agency

Exempts projects already approved by town industrial development agencies before the effective date from the new restrictions