Bill > S05171

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 project seeking public financial support or tax exemptions must fully disclose the identity of the project occupant at the public hearing mandated by Section 859-a. The term "project occupant" is defined by reference to Section 1801 of the Public Authorities Law. By requiring public disclosure, the bill aims to increase transparency in how government resources are allocated to development projects, ensuring that taxpayers and local communities have clear information about who will be using publicly supported facilities or benefiting from financial incentives. The legislation will take effect immediately upon passage.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S5171