Bill > A00030

This bill amends the New York General Municipal Law to implement stricter oversight and accountability for economic development projects receiving financial assistance from government agencies. The bill requires agencies to develop and implement policies for recovering financial assistance, including tax exemptions, if a project fails to meet job creation targets or violates project agreement terms. Agencies must conduct annual assessments of projects and are mandated to create a formal resolution and public documentation if they deviate from their established policies, which must be posted on their website. Additionally, the bill prevents tax exemptions, funds, financial incentives, and subsidies from being granted to projects that are already "in development" - defined as having active construction underway and all required permits issued, with exceptions for significant increases in project costs or property tax reassessments. The returned financial assistance would be redistributed to the appropriate tax jurisdictions. This legislation aims to increase transparency, ensure accountability, and prevent unnecessary financial support for projects that are already progressing without additional government aid.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A30