Assembly Bill A4930

2009-2010 Legislative Session

Enacts the "corporate disclosure, responsibility, and taxpayer protection act"

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2009-A4930 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Business Corporation Law
Laws Affected:
Add Art 17 ยงยง1714 - 1719, BC L
Versions Introduced in Other Legislative Sessions:
2011-2012: A6031
2013-2014: A6253

2009-A4930 (ACTIVE) - Summary

Enacts the "corporate disclosure, responsibility, and taxpayer protection act"; establishes principles for corporations receiving state assistance; provides for disclosure of real property tax reductions and abatements, standardized applications for development assistance, disclosure of development assistance, job creation and quality standards, and recapture in the event of development assistance defaults.

2009-A4930 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4930

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 10, 2009
                               ___________

Introduced by M. of A. BRODSKY, NOLAN, BRADLEY, GALEF, JACOBS, DelMONTE,
  ORTIZ,  FIELDS,  HOYT  --  Multi-Sponsored  by  --  M.  of A. DESTITO,
  FARRELL, KOON,  LATIMER,  LIFTON,  LUPARDO,  MILLMAN,  PERRY,  REILLY,
  SCHROEDER,  SEMINERIO,  WEISENBERG  --  read  once and referred to the
  Committee on Corporations, Authorities and Commissions

AN ACT to amend the business corporation law, in  relation  to  enacting
  the  "corporate  disclosure,  responsibility,  and taxpayer protection
  act"

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Short  title. This act shall be known and may be cited as
the "corporate disclosure, responsibility, and taxpayer protection act".
  S 2. Legislative findings and  intent.  The  legislature  finds  that,
despite  an  increase  in spending for the purpose of corporate develop-
ment, in both expenditures and other benefits, the real wage  levels  of
the  state's average working families have suffered years of decline and
stagnation, while corporations and other business entities  have  reaped
tremendous benefits at the working families' expense.
  Therefore, in order to ensure that the state's resources are achieving
their desired effect of raising living standards for the state's working
families,  the  legislature  finds  that  it is necessary to collect and
analyze additional information and to enact certain  safeguards  in  its
provision  of  state  assistance. In order to promote corporate account-
ability and responsibility to the citizens of this state,  the  legisla-
ture adopts the following principles:
  Principle  1. Businesses that receive economic assistance on the basis
of promises to create and retain jobs in this  state  shall  deliver  on
those promises.
  Principle 2. Businesses that receive economic assistance and then fail
to  live  up  to  their  promises to create and retain jobs shall refund
their assistance to the taxpayers.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07533-01-9
              

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