Bill > S04771

This bill amends the General Municipal Law to standardize fees charged by municipal industrial development agencies (IDAs) within a county. Specifically, if a municipality has its own IDA and is located within a county that also has an IDA, the municipal IDA must charge the exact same fees as the county-level IDA and cannot impose any additional fees beyond those charged by the county agency. Industrial Development Agencies are government entities designed to promote economic development by providing financial incentives like tax breaks and low-interest financing to businesses. The bill aims to create uniformity in fee structures for these agencies, potentially reducing administrative complexity and ensuring consistent costs for businesses seeking development incentives. The act will take effect 90 days after becoming law and will apply to project applications submitted on or after that date.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S4771