NY S04980

Renames "tourism destination" projects to "regionally significant projects" in the general municipal law governing industrial development agency (IDA) financial assistance

Requires an independent third-party cost-benefit analysis demonstrating more benefits than costs to the community before a project can qualify for the regionally significant designation

Projects must be determined likely to attract significant visitors from outside the economic development region and must preserve or increase permanent, private sector jobs in the state

Adds requirement that the chief executive officer (mayor, supervisor) of the city, town, or village where the project is located must confirm the agency's proposed action before financial assistance can be provided

Maintains the existing exemption allowing these projects to receive IDA financial assistance even when retail sales facilities constitute more than one-third of total project cost