Bill > A04927

This bill amends the general municipal law to prohibit town, city, and county industrial development agencies (IDAs) from entering into agreements that waive taxes owed to school districts. Currently, IDAs have the ability to offer tax incentives to businesses to encourage economic development, which can include reducing or eliminating tax payments through payment in lieu of taxes (PILOT) agreements. These agreements often provide financial benefits to businesses but can potentially reduce funding available to local school districts. The proposed legislation would eliminate this practice by specifically preventing IDAs from waiving any taxes that would otherwise be received by school districts. This means that businesses would be required to pay their full tax obligations to school districts, ensuring that these educational institutions do not lose potential revenue as a result of economic development incentives. The bill would take effect immediately upon enactment, creating an instant change in how IDAs can structure their tax incentive programs.

Education

https://www.nysenate.gov/legislation/bills/2025/A4927