Bill Text: NY S04668 | 2019-2020 | General Assembly | Amended


Bill Title: Prevents the use of funds, financial incentives, subsidies or tax exemptions for projects already in development.

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Introduced) 2020-01-24 - PRINT NUMBER 4668A [S04668 Detail]

Download: New_York-2019-S04668-Amended.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                         4668--A

                               2019-2020 Regular Sessions

                    IN SENATE

                                     March 20, 2019
                                       ___________

        Introduced  by  Sens.  SKOUFIS, MAYER, BIAGGI, KRUEGER -- read twice and
          ordered printed, and when printed to be committed to the Committee  on
          Local  Government  -- recommitted to the Committee on Local Government
          in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill
          amended, ordered reprinted as amended and recommitted to said  commit-
          tee

        AN ACT to amend the general municipal law, in relation to preventing the
          use  of  funds,  financial incentives, subsidies or tax exemptions for
          projects already in development

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Section  854  of  the general municipal law is amended by
     2  adding a new subdivision 21 to read as follows:
     3    (21) "In  development"  -  shall  mean  a  project  for  which  active
     4  construction,  including but not limited to erection of building founda-
     5  tions or structure, has already commenced.
     6    § 2. Section 862 of the general municipal law is amended by  adding  a
     7  new subdivision 3 to read as follows:
     8    (3)  Except  where environmental contamination requiring a significant
     9  increase in project costs is discovered during the  development  of  the
    10  project  or  where  a  municipality  has  reassessed  all or part of the
    11  project site resulting in an increase in property  taxes  of  more  than
    12  fifty percent, no funds, financial incentives or subsidies of the agency
    13  shall  be used in respect of any project which is already in development
    14  at the time such project applies for such funds,  financial  assistance,
    15  incentives or subsidies.
    16    §  3.  Section 874 of the general municipal law is amended by adding a
    17  new subdivision 13 to read as follows:
    18    (13) Except where environmental contamination requiring a  significant
    19  increase  in  project  costs is discovered during the development of the
    20  project or where a municipality  has  reassessed  all  or  part  of  the

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10239-06-0

        S. 4668--A                          2

     1  project  site  resulting  in  an increase in property taxes of more than
     2  fifty percent, no tax exemptions shall be granted to any project if  the
     3  project  is  already in development at the time such project applies for
     4  the issuance of the tax exemption.
     5    § 4. This act shall take effect immediately.
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