Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to economic development |
Jan 16, 2015 |
referred to economic development |
Assembly Bill A2436
2015-2016 Legislative Session
Sponsored By
BRONSON
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
Actions
2015-A2436 (ACTIVE) - Details
- Current Committee:
- Assembly Economic Development
- Law Section:
- Economic Development Law
- Laws Affected:
- Amd §100, Ec Dev L; add §11-a, St Fin L
- Versions Introduced in 2013-2014 Legislative Session:
-
A9863
2015-A2436 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2436 2015-2016 Regular Sessions I N A S S E M B L Y January 16, 2015 ___________ Introduced by M. of A. BRONSON -- read once and referred to the Commit- tee on Economic Development AN ACT to amend the economic development law and the state finance law, in relation to economic development grant recipients THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 19 of section 100 of the economic development law is amended by adding a new paragraph (c) to read as follows: (C) TO ADOPT REGULATIONS IN ACCORDANCE WITH SECTION ELEVEN-A OF THE STATE FINANCE LAW, TO ESTABLISH THE TERMS AND CONDITIONS OF REPAYMENT, INCLUDING SPECIFYING THE CONDITIONS UNDER WHICH REPAYMENT MAY BE DEFERRED, FOLLOWING A DETERMINATION BY THE COMMISSION OF A LEGITIMATE HARDSHIP. S 2. The state finance law is amended by adding a new section 11-a to read as follows: S 11-A. REQUIREMENTS FOR ECONOMIC DEVELOPMENT GRANT RECIPIENTS. ANY PERSON OR BUSINESS ORGANIZATION WHO RECEIVES AN AWARD OR GRANT THROUGH AN ECONOMIC DEVELOPMENT PROGRAM, WHERE SUCH AWARD OR GRANT ALSO REQUIRES THE CREATION OF JOBS, SHALL NOT REDUCE THE NUMBER OF EMPLOYEES WHO WERE EMPLOYED WITHIN THE STATE AT THE TIME SUCH PERSON OR BUSINESS ORGANIZA- TION ACCEPTED THE FINANCIAL ASSISTANCE FOR FIVE YEARS AFTER RECEIVING SUCH ASSISTANCE OR DURING THE TERM OF THE AWARD OR GRANT, WHICHEVER IS LONGER, UNLESS THE FULL AMOUNT OF ASSISTANCE IS REPAID TO THE STATE AND A PENALTY EQUAL TO FIVE PERCENT OF THE TOTAL ASSISTANCE RECEIVED IS PAID TO THE STATE. AS USED IN THIS SECTION, THE TERM "BUSINESS" SHALL INCLUDE ANY DIVISION OF A BUSINESS OR SUBSIDIARY INSTITUTION CONTROLLED, DIRECT- LY OR INDIRECTLY, BY ANOTHER INSTITUTION. S 3. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05998-01-5
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