NY A03911

Requires state agencies, state authorities, and local development corporations to prepare financial impact reports when using eminent domain for economic development projects

Financial reports must include an analysis of estimated costs and benefits of the proposed project or action

Reports must project the estimated retained or additional tax revenue for the next three years following the project

Requires disclosure of all loans, grants, and tax benefits received by the local development corporation since the project began

Mandates calculation of the present value of future assistance estimated for the project's duration, with state agency review and recommendations when reports are prepared by local development corporations