Bill > A00650

This bill amends the New York General Municipal Law to prevent government agencies from providing financial assistance, incentives, subsidies, or tax exemptions to projects that are already "in development," which is defined as having active construction underway, such as site clearing, excavation, or foundation work. The bill specifically prohibits agencies from offering funds or financial support to projects that have already begun construction when they apply for assistance, with a narrow exception for cases where significant environmental contamination is discovered during development that would increase project costs. The goal appears to be preventing retroactive financial support for projects that are already in progress, essentially ensuring that government resources are used to incentivize new projects rather than subsidizing developments already underway. The restrictions apply to various forms of financial aid, including direct funds, financial incentives, subsidies, and tax exemptions, and the amendments are made to multiple sections of the General Municipal Law to comprehensively implement these restrictions.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A650