Bill Text: NY A03914 | 2015-2016 | General Assembly | Introduced

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Bill Title: Relates to the repayment, in certain circumstances, of grant money awarded under the JOBS Now program and grant money issued by an industrial development agency; if the private company receiving the grant money leaves the state within five years after the distribution of the grant money, then the private company must repay the grant money.

Spectrum: Partisan Bill (Democrat 11-0)

Status: (Introduced - Dead) 2016-01-06 - referred to economic development [A03914 Detail]

Download: New_York-2015-A03914-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3914
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 28, 2015
                                      ___________
       Introduced  by  M.  of  A.  WRIGHT,  CLARK, PEOPLES-STOKES, SCARBOROUGH,
         JAFFEE -- Multi-Sponsored by -- M.  of  A.  BRENNAN,  CAHILL,  COLTON,
         COOK,  GALEF, GOTTFRIED, LIFTON, ROBINSON -- read once and referred to
         the Committee on Economic Development
       AN ACT to amend the New York state urban development corporation act and
         the general municipal law, in relation to the  repayment,  in  certain
         circumstances,  of  grant money awarded under the JOBS Now program and
         grant money issued by an industrial development agency
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Section  16-h  of section 1 of chapter 174 of the laws of
    2  1968, constituting the New York state urban development corporation act,
    3  is amended by adding a new subdivision 2-a to read as follows:
    4    2-A. ANY PRIVATE BUSINESS AWARDED  GRANT  MONEY  UNDER  THE  JOBS  NOW
    5  PROGRAM  MUST  REPAY SUCH GRANT MONEY IN FULL IF THE BUSINESS LEAVES THE
    6  STATE WITHIN FIVE YEARS AFTER THE GRANT MONEY IS DISTRIBUTED.
    7    S 2. Subdivision 9 of section 858 of the  general  municipal  law,  as
    8  amended  by  chapter  444  of  the  laws  of 1997, is amended to read as
    9  follows:
   10    (9) To make contracts and  leases,  and  to  execute  all  instruments
   11  necessary  or  convenient  to  or  with any person, firm, partnership or
   12  corporation, either public  or  private;  provided,  however,  that  any
   13  extension of an existing contract, lease or other agreement entered into
   14  by an agency with respect to a project shall be guided by the provisions
   15  of this article; AND PROVIDED FURTHER, HOWEVER, THAT ANY EXTENSION OF AN
   16  EXISTING  CONTRACT  OR AGREEMENT AND ANY NEW CONTRACT ENTERED INTO BY AN
   17  AGENCY WITH A PRIVATE PERSON, FIRM, PARTNERSHIP OR CORPORATION AND WHICH
   18  PROVIDES FINANCIAL ASSISTANCE IN THE FORM OF  GRANTS,  SHALL  INCLUDE  A
   19  PROVISION WHICH REQUIRES THE PRIVATE PERSON, FIRM, PARTNERSHIP OR CORPO-
   20  RATION  TO  REPAY THE FINANCIAL ASSISTANCE IN FULL IF THE PRIVATE ENTITY
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05176-01-5
       A. 3914                             2
    1  LEAVES THE STATE OR MOVES ITS SERVICES OR GOODS OUT OF STATE WITHIN FIVE
    2  YEARS AFTER THE FINANCIAL ASSISTANCE IS DISTRIBUTED;
    3    S  3.  Subdivision 1 of section 859-a of the general municipal law, as
    4  added by chapter 356 of the laws of 1993, is amended to read as follows:
    5    1. The agency must adopt a resolution describing the project  and  the
    6  financial  assistance  that  the agency is contemplating with respect to
    7  such project. Such assistance shall be consistent with the  uniform  tax
    8  exemption  policy  adopted by the agency pursuant to subdivision four of
    9  section eight hundred seventy-four of this [chapter] TITLE,  unless  the
   10  agency has followed the procedures for deviation from such policy speci-
   11  fied  in paragraph (b) of such subdivision.  SUCH RESOLUTION SHALL STATE
   12  IF A PRIVATE PERSON, FIRM, PARTNERSHIP OR CORPORATION  RECEIVING  FINAN-
   13  CIAL  ASSISTANCE  LEAVES THE STATE OR MOVES ITS SERVICES OR GOODS OUT OF
   14  STATE WITHIN FIVE YEARS AFTER THE FINANCIAL ASSISTANCE  IS  DISTRIBUTED,
   15  SUCH  PRIVATE  PERSON,  FIRM, PARTNERSHIP OR CORPORATION SHALL REPAY THE
   16  FINANCIAL ASSISTANCE IN FULL.
   17    S 4. This act shall take effect on the ninetieth day  after  it  shall
   18  have  become  a law, and shall apply to grants distributed and contracts
   19  and agreements extended or entered into on or after such effective date.