NY S05543

Requires industrial development agencies (IDAs) to notify school board presidents, superintendents, and state legislators representing affected tax jurisdictions at least 10 days before public hearings on proposed financial assistance or payments in lieu of taxes (PILOTs) exceeding $100,000

Mandates IDAs make meeting agendas available to the public and agency members at least 3 days before meetings, with posting on agency websites where maintained

Requires IDAs to submit annual reports and audits to local school board presidents and superintendents within 90 days after the end of each fiscal year

Expands existing IDA disclosure and procedural requirements to explicitly cover "payments in lieu of taxes" alongside "financial assistance" throughout application, evaluation, and agreement processes

Updates terminology throughout the statute, changing references from "chapter" to "title" and "his or her" to "their"