Bill > S03159

This bill amends the general municipal law to prevent county industrial development agencies (IDAs) from offering incentives in municipalities that already have their own industrial development agency. Specifically, the bill prohibits county agencies from providing any form of financial assistance, such as tax incentives, payments in lieu of taxes, funding, or other incentives within a county if a municipality in that county has established its own IDA. Industrial development agencies are local government entities designed to promote economic development by offering financial benefits to businesses. The new restriction aims to avoid potential redundancy or competition between county and municipal IDAs in economic development efforts. The bill will take effect two years after becoming law, which provides time for local governments and agencies to adjust to the new regulations.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S3159