Bill > A05261

This bill amends the New York General Municipal Law to prevent public agencies from providing funds, financial incentives, subsidies, or tax exemptions for projects where the project occupant is not publicly disclosed during the required public hearing. Specifically, the bill adds two new provisions: one to Section 862 and another to Section 874 of the General Municipal Law. Under these new provisions, any financial support or tax exemption for a project must be contingent on the project occupant being fully disclosed at the public hearing, as defined in Section 1801 of the Public Authorities Law. The purpose appears to be increasing transparency in economic development projects by ensuring that the entities benefiting from public financial support are known to the public before such support is granted. The bill would take effect immediately upon passage, potentially impacting future economic development and industrial incentive programs in New York State by mandating upfront disclosure of project occupants.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A5261