Bill > S00132

This bill prohibits town, city, or county industrial development agencies (IDAs) from entering into agreements that waive taxes that would otherwise be received by a school district. Specifically, the legislation prevents these agencies from creating payment in lieu of taxes (PILOT) agreements or using any other method to reduce tax revenues that would go to local school districts. Industrial development agencies are government-created entities designed to promote economic development by offering tax incentives to businesses, but this bill aims to protect school district funding by preventing such tax waivers. The proposed law would add a new section (§ 889) to the general municipal law, and it would take effect immediately upon enactment. By restricting IDAs from waiving school taxes, the bill seeks to ensure that local schools receive their full expected tax revenues, potentially maintaining educational funding levels and preventing potential financial strain on school districts.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S132