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NY S00177
Bill
Status
1/8/2025
Primary Sponsor
Sean Ryan
Click for details
AI Summary
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Repeals subdivision 18 of section 854 of the general municipal law related to industrial development agency financial assistance requirements
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Removes the provision allowing retail-focused projects to receive IDA financial assistance simply by being located in a "highly distressed area"
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Maintains the exception allowing IDA assistance for retail projects only when they provide goods or services that would otherwise not be reasonably accessible to local residents
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Takes effect immediately upon passage
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 GOVERNMENT
1/8/2025