Bill > A00409

This bill prohibits confidentiality and non-disclosure provisions in economic development contracts across multiple state laws, specifically targeting agreements involving tax incentives, payments in lieu of taxes (PILOT), tax abatements, bonds, notes, loans, grants, or rebates. Under this legislation, any contract entered into by the state, municipalities, public corporations, or parties negotiating on their behalf cannot include clauses that restrict the disclosure, discussion, or commentary on the contract's terms. The bill amends four different laws - the Urban Development Corporation Act, State Finance Law, General Municipal Law, and Economic Development Law - to ensure transparency in economic development agreements. By eliminating confidentiality provisions, the bill aims to increase public accountability and provide greater visibility into the financial arrangements and terms of economic development contracts, allowing stakeholders and the public to understand the details of such agreements.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A409