Bill Text: NY A07284 | 2019-2020 | General Assembly | Introduced

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Bill Title: Requires the return of all or a part of the financial assistance provided for a project where the project has material shortfalls or material violations.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2020-01-08 - referred to local governments [A07284 Detail]

Download: New_York-2019-A07284-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          7284
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                     April 18, 2019
                                       ___________
        Introduced by M. of A. THIELE -- read once and referred to the Committee
          on Local Governments
        AN  ACT to amend the general municipal law, in relation to requiring the
          return of all or a part of the financial  assistance  provided  for  a
          project   where  the  project  has  material  shortfalls  or  material
          violations
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. Subdivision 11 of section 874 of the general municipal law,
     2  as  added  by  chapter  563  of  the laws of 2015, is amended to read as
     3  follows:
     4    (11) Each agency shall develop policies for the return  of  all  or  a
     5  part of the financial assistance provided for the project, including all
     6  or part of the amount of any tax exemptions, as specified in the policy,
     7  which may include but shall not be limited to material shortfalls in job
     8  creation  and  retention projections or material violations of the terms
     9  and conditions of project agreements. The agency  shall  implement  such
    10  policies  created  in  accordance with this subdivision to return all or
    11  part of the financial assistance provided  for  any  project  where  the
    12  agency's annual assessment of a project shows material shortfalls in job
    13  creation  and  retention projections or material violations of the terms
    14  and conditions of project agreements. All such returned amounts  of  tax
    15  exemptions shall be redistributed to the appropriate affected tax juris-
    16  diction, unless agreed to otherwise by any local taxing jurisdiction.
    17    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10674-01-9