BILL NUMBER:  S295

 TITLE OF BILL :  An act to amend the general municipal law, in
relation to allowing municipalities to lease naming rights for
government owned property

 PURPOSE : This bill allows municipalities - counties, cities, towns
and villages an option to lease naming rights for governmentally owned
properties and facilities (examples include but are not limited to
waterfront property, parks, rail-trails, railroad tracks, city buses
and stadiums etc.)

 SUMMARY OF PROVISIONS : Section 1 amends the general municipal law by
adding a new section 99-x to read as follows; 99-x. Transfer and lease
of naming rights. As used in this section the term municipality shall
mean a county, city, town, or village.

Subsection 2 states that a municipality may enter into a contract to
lease the naming rights of any property owned by such municipality
according to the requirements of this section. The chief executive
officer of the municipality shall be responsible for negotiating the
contract, subject to the ratification of a majority of the members of
the legislative body of such municipality.

Subsection 3 notes the leasing agreement shall be for a period of not
less than one year and not more than five years.
              

Subsection 4 stipulates prior to the ratification of a contract
pursuant to this section, the legislative body of a municipality shall
hold a public hearing, on notice of at least thirty days, announcing
the intention of such municipality to enter into such a contract with
a third party. A public hearing pursuant to this section shall not be
held more than ninety days prior to such ratification.

Subsection 5 states any transaction described in this section may be
used by such municipality for any lawful municipal purpose.

 JUSTIFICATION : The continued weakening economy is severely impacting
many local governments. Property taxes are increasing and many
taxpayers are unable to afford annual tax increases. Because of the
weak economy in many of these communities, establishing a sound budget
and providing the necessary services is becoming much tougher.  In
today's environment, local governments are consequently searching for
new, innovative and creative ways of finding revenue streams,. It is
therefore incumbent upon the New York state legislature to provide
municipalities with local options that would assist generating
revenues to fund services and maintain municipality owned property.
Providing the local government with greater flexibility in leasing
naming rights for municipal owned facilities can generate critical
revenues thereby relying less on property tax increases.

 LEGISLATIVE HISTORY :  S.932(2014) S.7507(2012) A.9433(2010)

 FISCAL IMPLICATIONS : None.

 EFFECTIVE DATE : This act will take effect immediately.