S T A T E   O F   N E W   Y O R K
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                                 2669--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 27, 2015
                               ___________

Introduced  by Sens. KRUEGER, PERKINS -- read twice and ordered printed,
  and when printed to be committed to  the  Committee  on  Corporations,
  Authorities  and Commissions -- recommitted to the Committee on Corpo-
  rations, Authorities and Commissions in accordance with Senate Rule 6,
  sec. 8 -- committee discharged, bill  amended,  ordered  reprinted  as
  amended and recommitted to said committee

AN  ACT  to  amend the business corporation law, in relation to enacting
  the unified economic development budget 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 "unified economic development budget act".
  S 2. The business corporation law is amended by adding a  new  article
14 to read as follows:
                               ARTICLE 14
                   UNIFIED ECONOMIC DEVELOPMENT BUDGET
SECTION 1401. DEFINITIONS.
        1402. UNIFIED ECONOMIC DEVELOPMENT BUDGET.
        1403. STANDARDIZED  APPLICATIONS  FOR  STATE DEVELOPMENT ASSIST-
                ANCE.
        1404. STATE DEVELOPMENT ASSISTANCE DISCLOSURE.
S 1401. DEFINITIONS.
  AS USED IN THIS ARTICLE:
  (A) "ANNUAL TAX EXPENDITURE REPORT"  IS  AS  DEFINED  BY  SECTION  ONE
HUNDRED EIGHTY-ONE OF THE EXECUTIVE LAW.
  (B) "BASE YEARS" MEANS THE FIRST TWO COMPLETE CALENDAR YEARS FOLLOWING
THE EFFECTIVE DATE OF A RECIPIENT RECEIVING DEVELOPMENT ASSISTANCE.
  (C) "DATE OF ASSISTANCE" MEANS THE COMMENCEMENT DATE OF THE ASSISTANCE
AGREEMENT,  WHICH DATE TRIGGERS THE PERIOD DURING WHICH THE RECIPIENT IS
OBLIGATED TO CREATE OR  RETAIN  JOBS  AND  CONTINUE  OPERATIONS  AT  THE
SPECIFIC PROJECT SITE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03358-02-6
              

S. 2669--A                          2

  (D)  "DEVELOPMENT  ASSISTANCE" MEANS: (1) TAX EXPENDITURES GIVEN AS AN
INCENTIVE TO  RECIPIENT  BUSINESSES,  NOT-FOR-PROFIT  ORGANIZATIONS  AND
GOVERNMENT ENTITIES FOR ECONOMIC DEVELOPMENT PURPOSES;
  (2)  GRANTS  OR  LOANS AWARDED BY ALL STATE GRANTING BODIES AND INDUS-
TRIAL DEVELOPMENT AGENCIES TO BUSINESSES,  NOT-FOR-PROFIT  ORGANIZATIONS
AND GOVERNMENT ENTITIES FOR ECONOMIC DEVELOPMENT PURPOSES; AND
  (3)  ALL  SUCCESSOR AND SUBSEQUENT DEVELOPMENT ASSISTANCE PROGRAMS AND
TAX EXPENDITURES DESIGNED TO  PROMOTE  LARGE  BUSINESS  RELOCATIONS  AND
EXPANSIONS.
  (E) "DEVELOPMENT ASSISTANCE AGREEMENT" MEANS ANY AGREEMENT EXECUTED BY
THE STATE GRANTING BODY OR INDUSTRIAL DEVELOPMENT AGENCY AND THE RECIPI-
ENT  SETTING FORTH THE TERMS AND CONDITIONS OF DEVELOPMENT ASSISTANCE TO
BE PROVIDED TO THE RECIPIENT CONSISTENT WITH THE FINAL  APPLICATION  FOR
DEVELOPMENT ASSISTANCE, INCLUDING BUT NOT LIMITED TO THE DATE OF ASSIST-
ANCE, SUBMITTED TO AND APPROVED BY THE STATE GRANTING BODY OR INDUSTRIAL
DEVELOPMENT AGENCY.
  (F) "DIVISION" MEANS, UNLESS OTHERWISE NOTED, THE NEW YORK STATE DIVI-
SION OF THE BUDGET OR ANY SUCCESSOR AGENCY.
  (G) "ECONOMIC DEVELOPMENT" MEANS ANY ECONOMIC ACTIVITY TO INCREASE TAX
REVENUE,  TAX  BASE,  OR  EMPLOYMENT OR IMPROVE GENERAL ECONOMIC HEALTH,
WHEN THE ACTIVITY INVOLVES:
  (1) THE PLANNING, DESIGN, DEVELOPMENT,  CONSTRUCTION,  REHABILITATION,
BUSINESS  RELOCATION,  OR  ANY COMBINATION OF THESE, WITHIN A COMMUNITY;
AND
  (2) THE PROVISION OF OFFICE, INDUSTRIAL,  MANUFACTURING,  WAREHOUSING,
DISTRIBUTION,  PARKING,  PUBLIC,  OR OTHER FACILITIES, OR OTHER IMPROVE-
MENTS THAT BENEFIT THE STATE OR A COMMUNITY;
BUT DOES NOT RESULT IN THE TRANSFER OF LAND TO PUBLIC OWNERSHIP  OR  THE
TRANSFER  OF  PROPERTY TO A PRIVATE ENTITY THAT IS A PUBLIC UTILITY, THE
LEASE OF PROPERTY TO PRIVATE ENTITIES THAT  OCCUPY  AN  INCIDENTAL  AREA
WITHIN A PUBLIC PROJECT OR THE REMEDY OF BLIGHT.
  (H)  "FULL-TIME,  PERMANENT JOB" MEANS A JOB IN WHICH THE NEW EMPLOYEE
WORKS FOR THE RECIPIENT AT A RATE OF  AT  LEAST  THIRTY-FIVE  HOURS  PER
WEEK.
  (I)  "INDUSTRIAL  DEVELOPMENT  AGENCY"  MEANS  AN AGENCY AS DEFINED BY
SECTION EIGHT HUNDRED FIFTY-FOUR OF THE GENERAL MUNICIPAL LAW.
  (J) "NEW EMPLOYEE" MEANS A FULL-TIME, PERMANENT EMPLOYEE  WHO  REPRES-
ENTS  A  NET  INCREASE IN THE NUMBER OF THE RECIPIENT'S EMPLOYEES STATE-
WIDE. "NEW EMPLOYEE" INCLUDES AN EMPLOYEE WHO PREVIOUSLY  FILLED  A  NEW
EMPLOYEE POSITION WITH THE RECIPIENT WHO WAS REHIRED OR CALLED BACK FROM
A  LAYOFF  THAT OCCURS DURING OR FOLLOWING THE BASE YEARS. THE TERM "NEW
EMPLOYEE" DOES NOT INCLUDE ANY OF THE FOLLOWING:
  (1) AN EMPLOYEE OF THE RECIPIENT WHO PERFORMS A JOB THAT WAS PREVIOUS-
LY PERFORMED BY ANOTHER EMPLOYEE IN THIS STATE, IF THAT JOB  EXISTED  IN
THIS STATE FOR AT LEAST SIX MONTHS BEFORE HIRING THE EMPLOYEE; OR
  (2) A CHILD, GRANDCHILD, PARENT, OR SPOUSE, OTHER THAN A SPOUSE WHO IS
LEGALLY  SEPARATED  FROM  THE  INDIVIDUAL,  OF  ANY INDIVIDUAL WHO HAS A
DIRECT OR INDIRECT OWNERSHIP INTEREST OF AT LEAST FIVE  PERCENT  IN  THE
PROFITS, CAPITAL, OR VALUE OF ANY MEMBER OF THE RECIPIENT.
  (K)  "PART-TIME  JOB"  MEANS A JOB IN WHICH THE NEW EMPLOYEE WORKS FOR
THE RECIPIENT AT A RATE OF LESS THAN THIRTY-FIVE HOURS PER WEEK.
  (L) "RECIPIENT" MEANS ANY BUSINESS THAT RECEIVES ECONOMIC  DEVELOPMENT
ASSISTANCE.  A  BUSINESS  IS ANY CORPORATION, LIMITED LIABILITY COMPANY,
PARTNERSHIP, JOINT VENTURE, ASSOCIATION, SOLE PROPRIETORSHIP,  OR  OTHER
LEGALLY RECOGNIZED ENTITY.

S. 2669--A                          3

  (M)  "RETAINED  EMPLOYEE"  MEANS  ANY  EMPLOYEE  DEFINED  AS  HAVING A
FULL-TIME OR FULL-TIME EQUIVALENT JOB PRESERVED AT A  SPECIFIC  FACILITY
OR SITE, THE CONTINUANCE OF WHICH IS THREATENED BY A SPECIFIC AND DEMON-
STRABLE THREAT, WHICH SHALL BE SPECIFIED IN THE APPLICATION FOR DEVELOP-
MENT ASSISTANCE.
  (N)  "SPECIFIC  PROJECT  SITE" MEANS THAT DISTINCT OPERATIONAL UNIT TO
WHICH ANY DEVELOPMENT ASSISTANCE IS APPLIED.
  (O) "STATE GRANTING BODY" MEANS THE DIVISION AND/OR  ANY  OTHER  STATE
DEPARTMENT, AGENCY, BUREAU, OFFICE, COMMISSION, PUBLIC AUTHORITY, PUBLIC
CORPORATION  AND ANY OTHER STATE ENTITY THAT PROVIDES AND/OR ADMINISTERS
DEVELOPMENT ASSISTANCE THAT HAS REPORTING REQUIREMENTS UNDER THIS  ARTI-
CLE, AND ANY SUCCESSOR AGENCIES TO ANY OF THE PRECEDING ENTITIES.
  (P)  "TAX EXPENDITURE" IS AS DEFINED BY SECTION ONE HUNDRED EIGHTY-ONE
OF THE EXECUTIVE LAW.
  (Q) "TEMPORARY JOB" MEANS A JOB IN WHICH THE NEW EMPLOYEE IS HIRED FOR
A SPECIFIC DURATION OF TIME OR SEASON.
  (R) "VALUE OF ASSISTANCE" MEANS THE FACE VALUE OF ANY FORM OF DEVELOP-
MENT ASSISTANCE.
S 1402. UNIFIED ECONOMIC DEVELOPMENT BUDGET.
  (A) FOR EACH STATE FISCAL YEAR ENDING ON OR AFTER JUNE THIRTIETH,  TWO
THOUSAND NINETEEN, THE DIVISION, IN COLLABORATION WITH THE DEPARTMENT OF
TAXATION  AND  FINANCE, SHALL SUBMIT AN ANNUAL UNIFIED ECONOMIC DEVELOP-
MENT BUDGET TO THE GOVERNOR, SENATE AND ASSEMBLY. THE  UNIFIED  ECONOMIC
DEVELOPMENT BUDGET SHALL BE DUE WITHIN THREE MONTHS AFTER THE END OF THE
FISCAL  YEAR,  AND  SHALL  PRESENT  ALL  TYPES OF DEVELOPMENT ASSISTANCE
GRANTED DURING THE PRIOR FISCAL YEAR, INCLUDING:
  (1) THE AGGREGATE AMOUNT, PREPARED BY THE DEPARTMENT OF  TAXATION  AND
FINANCE AND PRESENTED AS STATE TOTALS, OF ACTUAL UNCOLLECTED OR DIVERTED
STATE  TAX  REVENUES  RESULTING FROM EACH TYPE OF DEVELOPMENT ASSISTANCE
PROVIDED PURSUANT TO LAW, AS REPORTED  IN  THE  ANNUAL  TAX  EXPENDITURE
REPORT;
  (2)  THE  AGGREGATE  AMOUNT, PREPARED BY THE DIVISION AND PRESENTED AS
STATE TOTALS, OF DEVELOPMENT ASSISTANCE GRANTS AND LOANS AWARDED BY  ALL
STATE  AND INDUSTRIAL DEVELOPMENT AGENCIES TO BUSINESSES, NOT-FOR-PROFIT
ORGANIZATIONS AND GOVERNMENT ENTITIES; AND A LIST OF THE TOP FIVE RECIP-
IENTS BY DOLLAR VALUE OF EACH TYPE OF DEVELOPMENT  ASSISTANCE  GRANT  OR
LOAN;
  (3)  THE  AGGREGATE  AMOUNTS  REQUIRED BY SUBPARAGRAPHS ONE AND TWO OF
THIS PARAGRAPH SHALL CORRESPOND TO THE MOST RECENT FISCAL YEAR FOR WHICH
RELIABLE DATA ARE AVAILABLE, AND THE PRECEDING FIVE FISCAL YEARS;
  (4) A LIST OF ALL STATE DEVELOPMENT ASSISTANCE WITH A DESCRIPTION  AND
AGGREGATE AMOUNT OF UNCOLLECTED OR DIVERTED STATE TAX REVENUES RESULTING
FROM  OR  AWARDED  FOR  EACH TYPE OF DEVELOPMENT ASSISTANCE FOR THE MOST
RECENT FISCAL YEAR AND ITS PRECEDING FISCAL YEAR; AND
  (5) THE AGGREGATE AMOUNT, PREPARED BY THE DIVISION  AND  PRESENTED  AS
STATE TOTALS, OF JOBS CREATED AND/OR RETAINED WITH THE SUPPORT OF DEVEL-
OPMENT ASSISTANCE.
  (B)  ALL  DATA  CONTAINED  IN  THE UNIFIED ECONOMIC DEVELOPMENT BUDGET
PRESENTED TO THE GOVERNOR, SENATE AND ASSEMBLY SHALL BE FULLY SUBJECT TO
THE FREEDOM OF  INFORMATION  ACT,  NOTWITHSTANDING  INSTANCES  WHEN  THE
DISCLOSURE  OF  INFORMATION  VIOLATES CONFIDENTIALITY AGREEMENTS BETWEEN
THE DEPARTMENT OF TAXATION AND FINANCE AND RECIPIENTS OF STATE  DEVELOP-
MENT ASSISTANCE.
  (C)  THE  DEPARTMENT  OF TAXATION AND FINANCE SHALL SUBMIT A REPORT OF
THE AMOUNTS IN SUBPARAGRAPH ONE OF PARAGRAPH (A) OF THIS SECTION TO  THE

S. 2669--A                          4

DIVISION,  WHICH SHALL APPEND SUCH REPORT TO THE UNIFIED ECONOMIC DEVEL-
OPMENT BUDGET RATHER THAN SEPARATELY REPORTING SUCH AMOUNTS.
S 1403. STANDARDIZED APPLICATIONS FOR STATE DEVELOPMENT ASSISTANCE.
  (A)  ALL  FINAL  APPLICATIONS  SUBMITTED  TO  THE DIVISION, INDUSTRIAL
DEVELOPMENT AGENCIES OR ANY OTHER STATE GRANTING BODY REQUESTING  DEVEL-
OPMENT ASSISTANCE SHALL CONTAIN, AT A MINIMUM:
  (1)  AN APPLICATION TRACKING NUMBER THAT IS SPECIFIC TO BOTH THE STATE
GRANTING AGENCY OR INDUSTRIAL DEVELOPMENT AGENCY AND  TO  EACH  APPLICA-
TION;
  (2)  THE  OFFICE  MAILING  ADDRESS, OFFICE TELEPHONE NUMBER, AND CHIEF
OFFICER OF THE GRANTING BODY OR INDUSTRIAL DEVELOPMENT AGENCY;
  (3) THE OFFICE MAILING ADDRESS, TELEPHONE NUMBER, AND THE NAME OF  THE
CHIEF  OFFICER  OF THE APPLICANT OR AUTHORIZED DESIGNEE FOR THE SPECIFIC
PROJECT SITE FOR WHICH DEVELOPMENT ASSISTANCE IS REQUESTED;
  (4) THE APPLICANT'S TOTAL NUMBER OF EMPLOYEES AT THE SPECIFIC  PROJECT
SITE ON THE DATE THAT THE APPLICATION IS SUBMITTED TO THE STATE GRANTING
BODY   OR   INDUSTRIAL  DEVELOPMENT  AGENCY,  INCLUDING  THE  NUMBER  OF
FULL-TIME, PERMANENT JOBS, THE NUMBER OF PART-TIME JOBS, AND THE  NUMBER
OF TEMPORARY JOBS;
  (5)  THE  TYPE OF DEVELOPMENT ASSISTANCE AND VALUE OF ASSISTANCE BEING
REQUESTED;
  (6) THE NUMBER OF JOBS TO BE CREATED AND RETAINED OR BOTH CREATED  AND
RETAINED  BY  THE  APPLICANT  AS A RESULT OF THE DEVELOPMENT ASSISTANCE,
INCLUDING THE NUMBER OF FULL-TIME, PERMANENT JOBS, THE NUMBER  OF  PART-
TIME JOBS, AND THE NUMBER OF TEMPORARY JOBS;
  (7)  A  DETAILED  LIST  OF  THE  OCCUPATION OR JOB CLASSIFICATIONS AND
NUMBER OF NEW EMPLOYEES OR RETAINED EMPLOYEES TO BE HIRED IN  FULL-TIME,
PERMANENT  JOBS,  A  SCHEDULE  OF  ANTICIPATED STARTING DATES OF THE NEW
HIRES AND THE ANTICIPATED AVERAGE WAGE BY OCCUPATION OR JOB  CLASSIFICA-
TION  AND  TOTAL  PAYROLL  TO  BE CREATED AS A RESULT OF THE DEVELOPMENT
ASSISTANCE;
  (8) A LIST OF ALL OTHER  FORMS  OF  DEVELOPMENT  ASSISTANCE  THAT  THE
APPLICANT  IS  REQUESTING  FOR THE SPECIFIC PROJECT SITE AND THE NAME OF
EACH STATE GRANTING BODY OR INDUSTRIAL  DEVELOPMENT  AGENCY  FROM  WHICH
THAT DEVELOPMENT ASSISTANCE IS BEING REQUESTED;
  (9)  A NARRATIVE, IF NECESSARY, DESCRIBING WHY THE DEVELOPMENT ASSIST-
ANCE IS NEEDED AND HOW THE APPLICANT'S USE OF THE DEVELOPMENT ASSISTANCE
MAY REDUCE EMPLOYMENT AT ANY SITE IN NEW YORK;
  (10) A CERTIFICATION BY THE CHIEF OFFICER OF THE APPLICANT OR  HIS  OR
HER  AUTHORIZED  DESIGNEE THAT THE INFORMATION CONTAINED IN THE APPLICA-
TION SUBMITTED TO THE GRANTING BODY  OR  INDUSTRIAL  DEVELOPMENT  AGENCY
CONTAINS  NO  KNOWING  MISREPRESENTATION  OF  MATERIAL  FACTS UPON WHICH
ELIGIBILITY FOR DEVELOPMENT ASSISTANCE IS BASED.
  (B) EVERY STATE GRANTING BODY OR INDUSTRIAL DEVELOPMENT AGENCY  EITHER
SHALL  COMPLETE, OR SHALL REQUIRE THE APPLICANT TO COMPLETE, AN APPLICA-
TION FORM THAT MEETS THE MINIMUM  REQUIREMENTS  AS  PRESCRIBED  IN  THIS
SECTION  EACH  TIME  AN  APPLICANT  APPLIES  FOR  DEVELOPMENT ASSISTANCE
COVERED BY THIS ARTICLE.
  (C) THE DIVISION SHALL HAVE THE DISCRETION TO MODIFY ANY  STANDARDIZED
APPLICATION  FOR  STATE  DEVELOPMENT ASSISTANCE REQUIRED UNDER PARAGRAPH
(A) OF THIS SECTION FOR ANY GRANTS THAT ARE NOT GIVEN AS AN INCENTIVE TO
A RECIPIENT BUSINESS ORGANIZATION.
S 1404. STATE DEVELOPMENT ASSISTANCE DISCLOSURE.
  (A) BEGINNING FEBRUARY FIRST, TWO  THOUSAND  EIGHTEEN  AND  EACH  YEAR
THEREAFTER,  EVERY STATE GRANTING BODY AND INDUSTRIAL DEVELOPMENT AGENCY

S. 2669--A                          5

SHALL SUBMIT TO THE DIVISION COPIES OF ALL DEVELOPMENT ASSISTANCE AGREE-
MENTS THAT IT APPROVED IN THE PRIOR CALENDAR YEAR.
  (B)  FOR  EACH  DEVELOPMENT ASSISTANCE AGREEMENT FOR WHICH THE DATE OF
ASSISTANCE HAS OCCURRED IN THE PRIOR CALENDAR YEAR, EACH RECIPIENT SHALL
SUBMIT TO THE DIVISION A PROGRESS REPORT THAT SHALL INCLUDE, BUT NOT  BE
LIMITED TO, THE FOLLOWING:
  (1) THE APPLICATION TRACKING NUMBER;
  (2)  THE OFFICE MAILING ADDRESS, TELEPHONE NUMBER, AND THE NAME OF THE
CHIEF OFFICER OF THE GRANTING BODY OR INDUSTRIAL DEVELOPMENT AGENCY;
  (3) THE OFFICE MAILING ADDRESS, TELEPHONE NUMBER, AND THE NAME OF  THE
CHIEF  OFFICER  OF THE APPLICANT OR AUTHORIZED DESIGNEE FOR THE SPECIFIC
PROJECT SITE FOR WHICH THE DEVELOPMENT ASSISTANCE WAS  APPROVED  BY  THE
STATE GRANTING BODY OR INDUSTRIAL DEVELOPMENT AGENCY;
  (4) THE TYPE OF DEVELOPMENT ASSISTANCE PROGRAM AND VALUE OF ASSISTANCE
THAT  WAS  APPROVED BY THE STATE GRANTING BODY OR INDUSTRIAL DEVELOPMENT
AGENCY;
  (5) THE APPLICANT'S TOTAL NUMBER OF EMPLOYEES AT THE SPECIFIC  PROJECT
SITE  ON THE DATE THAT THE APPLICATION WAS SUBMITTED TO THE STATE GRANT-
ING BODY OR INDUSTRIAL DEVELOPMENT  AGENCY  AND  THE  APPLICANT'S  TOTAL
NUMBER  OF  EMPLOYEES  AT  THE  SPECIFIC PROJECT SITE ON THE DATE OF THE
REPORT, INCLUDING THE NUMBER OF FULL-TIME, PERMANENT JOBS, THE NUMBER OF
PART-TIME JOBS, AND THE NUMBER OF TEMPORARY JOBS, AND A  COMPUTATION  OF
THE GAIN OR LOSS OF JOBS IN EACH CATEGORY;
  (6) THE NUMBER OF NEW EMPLOYEES AND RETAINED EMPLOYEES THAT THE APPLI-
CANT STATED IN ITS DEVELOPMENT ASSISTANCE AGREEMENT, IF ANY, AND IF NOT,
THEN IN ITS APPLICATION, WOULD BE CREATED BY THE DEVELOPMENT ASSISTANCE,
BROKEN DOWN BY FULL-TIME, PERMANENT, PART-TIME, AND TEMPORARY;
  (7) A SWORN DECLARATION OF WHETHER THE RECIPIENT IS IN COMPLIANCE WITH
THE DEVELOPMENT ASSISTANCE AGREEMENT;
  (8)  A  DETAILED  LIST  OF  THE  OCCUPATION OR JOB CLASSIFICATIONS AND
NUMBER OF NEW EMPLOYEES OR RETAINED EMPLOYEES TO BE HIRED IN  FULL-TIME,
PERMANENT  JOBS,  A  SCHEDULE  OF  ANTICIPATED STARTING DATES OF THE NEW
HIRES AND THE ACTUAL AVERAGE WAGE BY OCCUPATION  OR  JOB  CLASSIFICATION
AND  TOTAL  PAYROLL TO BE CREATED AS A RESULT OF THE DEVELOPMENT ASSIST-
ANCE;
  (9) A NARRATIVE, IF NECESSARY, DESCRIBING HOW THE RECIPIENT'S  USE  OF
THE DEVELOPMENT ASSISTANCE DURING THE REPORTING YEAR HAS REDUCED EMPLOY-
MENT AT ANY SITE IN NEW YORK; AND
  (10)  A  CERTIFICATION BY THE CHIEF OFFICER OF THE APPLICANT OR HIS OR
HER AUTHORIZED DESIGNEE THAT THE  INFORMATION  IN  THE  PROGRESS  REPORT
CONTAINS  NO  KNOWING  MISREPRESENTATION  OF  MATERIAL  FACTS UPON WHICH
ELIGIBILITY FOR DEVELOPMENT ASSISTANCE IS BASED.
  (C) THE STATE  GRANTING  BODY,  INDUSTRIAL  DEVELOPMENT  AGENCY  OR  A
SUCCESSOR  AGENCY,  SHALL  HAVE  FULL  AUTHORITY  TO  VERIFY INFORMATION
CONTAINED IN THE RECIPIENT'S PROGRESS REPORT, INCLUDING THE AUTHORITY TO
INSPECT THE SPECIFIC PROJECT SITE AND INSPECT THE RECORDS OF THE RECIPI-
ENT THAT ARE SUBJECT TO THE DEVELOPMENT ASSISTANCE AGREEMENT.
  (D) BY JUNE FIRST, TWO THOUSAND TWENTY AND BY JUNE FIRST OF EACH  YEAR
THEREAFTER,  THE  DIVISION  SHALL COMPILE AND PUBLISH ALL DATA IN ALL OF
THE PROGRESS REPORTS IN BOTH WRITTEN AND ELECTRONIC FORM.
  S 3. This act shall take effect on the ninetieth day  after  it  shall
have become a law.