S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2298
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 17, 2017
                                ___________
 
 Introduced  by  M. of A. MAYER, SIMON, SEAWRIGHT, MONTESANO -- read once
   and referred to the Committee on Local Governments
 
 AN ACT to amend the  not-for-profit  corporation  law  and  the  general
   municipal law, in relation to reforming local development corporations
   and industrial development agencies

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraphs 2 and 3 of paragraph (d) of section  1411  of
 the  not-for-profit  corporation  law are amended and a new subparagraph
 2-a is added to read as follows:
   (2)  Notwithstanding the provisions of any general, special, or  local
 law,  charter,  or  ordinance  to the contrary, such sale or lease [may]
 SHALL be made [without] WITH AN appraisal,  public  notice,  (except  as
 provided  in  subparagraph  (4)  OF  THIS PARAGRAPH) [or] AND SUBJECT TO
 public bidding for such price or rental [and upon such terms as  may  be
 agreed  upon  between  the  county, city, town or village and said local
 development corporation; provided,  however,  that  in].  IN case  of  a
 lease, the term may not exceed ninety-nine years; and provided, further,
 that, in cities having a population of one million or more, no such sale
 or lease shall be made without the approval of a majority of the members
 of  the  [borough  improvement  board of the borough] COMMUNITY BOARD OR
 BOARDS FOR THE COMMUNITY DISTRICT OR DISTRICTS in which such real  prop-
 erty  is located AND THE RESPECTIVE BOROUGH BOARD, IF SUCH REAL PROPERTY
 IS LOCATED IN TWO OR MORE COMMUNITY DISTRICTS.
   (2-A) (I) THE CORPORATION SHALL PREPARE OR CAUSE TO  BE  PREPARED,  BY
 CONTRACT  OR  OTHERWISE, AN ECONOMIC IMPACT STATEMENT ON ANY ACTION THAT
 IT PROPOSES OR APPROVES WHICH MAY  HAVE  A  SIGNIFICANT  EFFECT  ON  THE
 AFFECTED  LOCAL  ECONOMY  AND LOCAL COMMUNITY. THE CORPORATION SHALL USE
 ALL PRACTICABLE MEANS TO REALIZE THE POLICIES AND  GOALS  SET  FORTH  IN
 THIS  SECTION,  AND  SHALL ACT AND CHOOSE ALTERNATIVES WHICH, CONSISTENT
 WITH SOCIAL, ECONOMIC, ENVIRONMENTAL, LABOR, AND OTHER ESSENTIAL CONSID-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD02862-01-7

 A. 2298                             2
 
 ERATIONS, TO THE MAXIMUM EXTENT PRACTICABLE, MINIMIZE OR  AVOID  ADVERSE
 ECONOMIC  EFFECTS,  INCLUDING  EFFECTS  REVEALED  IN THE ECONOMIC IMPACT
 STATEMENT PROCESS. SUCH A STATEMENT SHALL INCLUDE A  DETAILED  STATEMENT
 SETTING FORTH THE FOLLOWING:
   (A)  A  DESCRIPTION OF THE PROPOSED ACTION AND ITS ECONOMIC AND SOCIAL
 SETTING;
   (B) THE ECONOMIC AND SOCIAL IMPACT OF THE PROPOSED  ACTION,  INCLUDING
 SHORT-TERM AND LONG-TERM EFFECTS, ESPECIALLY TO THE AFFECTED COMMUNITY;
   (C)  ANY  ADVERSE  ECONOMIC EFFECTS WHICH CANNOT BE AVOIDED SHOULD THE
 PROPOSAL BE IMPLEMENTED;
   (D) ALTERNATIVES TO THE PROPOSED ACTION;
   (E)  ANY  IRREVERSIBLE  AND  IRRETRIEVABLE  COMMITMENTS   AND   SOCIAL
 RESOURCES  WHICH  WOULD BE INVOLVED IN THE PROPOSED ACTION, SHOULD IT BE
 IMPLEMENTED;
   (F) MITIGATION MEASURES PROPOSED TO MINIMIZE THE ECONOMIC, SOCIAL,  OR
 OTHER ESSENTIAL IMPACTS; AND
   (G) THE GROWTH-INDUCING ASPECTS OF THE PROPOSED ACTION, WHERE APPLICA-
 BLE  AND  SIGNIFICANT.  SUCH  A STATEMENT SHALL ALSO INCLUDE COPIES OR A
 SUMMARY OF THE SUBSTANTIVE COMMENTS RECEIVED BY THE CORPORATION PURSUANT
 TO CLAUSE (IV) OF THIS SUBPARAGRAPH AND THE  CORPORATION'S  RESPONSE  TO
 SUCH COMMENTS. THE PURPOSE OF AN ECONOMIC IMPACT STATEMENT IS TO PROVIDE
 DETAILED  INFORMATION ABOUT THE EFFECT WHICH A PROPOSED ACTION IS LIKELY
 TO HAVE ON THE ECONOMY, EMPLOYMENT  CONDITIONS,  AND  SOCIAL  CHARACTER-
 ISTICS OF A COMMUNITY, TO LIST WAYS IN WHICH ANY ADVERSE EFFECTS OF SUCH
 AN  ACTION  MIGHT  BE  MINIMIZED, AND TO SUGGEST ALTERNATIVES TO SUCH AN
 ACTION SO AS TO FORM THE BASIS FOR A DECISION AS TO WHETHER  OR  NOT  TO
 UNDERTAKE  OR APPROVE SUCH ACTION. SUCH STATEMENT SHALL BE CLEARLY WRIT-
 TEN IN A CONCISE MANNER CAPABLE OF BEING  READ  AND  UNDERSTOOD  BY  THE
 PUBLIC, SHALL DEAL WITH THE SPECIFIC, SIGNIFICANT ECONOMIC IMPACTS WHICH
 CAN BE REASONABLY ANTICIPATED, AND SHALL NOT CONTAIN MORE DETAIL THAN IS
 APPROPRIATE, CONSIDERING THE NATURE AND MAGNITUDE OF THE PROPOSED ACTION
 AND THE SIGNIFICANCE OF ITS POTENTIAL IMPACTS.
   (II)  THE  CORPORATION  MAY REQUIRE AN APPLICANT TO SUBMIT AN ECONOMIC
 REPORT TO ASSIST THE CORPORATION IN CARRYING OUT  ITS  RESPONSIBILITIES,
 INCLUDING  THE  INITIAL DETERMINATION AND, (WHERE THE APPLICANT DOES NOT
 PREPARE THE ECONOMIC IMPACT STATEMENT), THE PREPARATION OF  AN  ECONOMIC
 IMPACT  STATEMENT  UNDER  THIS SUBPARAGRAPH. THE CORPORATION MAY REQUEST
 SUCH OTHER INFORMATION FROM AN APPLICANT AS IT DEEMS NECESSARY  FOR  THE
 REVIEW  OF  ECONOMIC  AND  SOCIAL  IMPACTS.  NOTWITHSTANDING  ANY USE OF
 OUTSIDE RESOURCES OR WORK, CORPORATIONS SHALL MAKE THEIR OWN INDEPENDENT
 JUDGMENT OF THE SCOPE, CONTENTS, AND  ADEQUACY  OF  AN  ECONOMIC  IMPACT
 STATEMENT.
   (III) (A) AS EARLY AS POSSIBLE IN THE FORMULATION OF A PROPOSAL FOR AN
 ACTION, THE CORPORATION SHALL MAKE AN INITIAL DETERMINATION AS TO WHETH-
 ER  OR NOT AN ECONOMIC IMPACT STATEMENT NEED BE PREPARED FOR THE ACTION.
 WITH RESPECT TO ACTIONS INVOLVING THE ISSUANCE  TO  AN  APPLICANT  OF  A
 PERMIT  OR OTHER ENTITLEMENT, THE CORPORATION SHALL NOTIFY THE APPLICANT
 IN WRITING OF ITS INITIAL DETERMINATION, SPECIFYING  THEREIN  THE  BASIS
 FOR  SUCH DETERMINATION. NOTICE OF THE INITIAL DETERMINATION, ALONG WITH
 APPROPRIATE SUPPORTING FINDINGS ON CORPORATION ACTIONS, SHALL BE KEPT ON
 FILE IN THE MAIN OFFICE OF THE CORPORATION FOR PUBLIC INSPECTION. IF THE
 CORPORATION DETERMINES THAT SUCH STATEMENT IS REQUIRED, THE  CORPORATION
 OR  THE  APPLICANT, AT THE APPLICANT'S OPTION, SHALL PREPARE OR CAUSE TO
 BE PREPARED A DRAFT ECONOMIC IMPACT STATEMENT.   IF THE  APPLICANT  DOES
 NOT EXERCISE THE OPTION TO PREPARE SUCH STATEMENT, THE CORPORATION SHALL
 PREPARE  IT,  CAUSE  IT  TO  BE PREPARED, OR TERMINATE ITS REVIEW OF THE

 A. 2298                             3
 
 PROPOSED ACTION. SUCH STATEMENT SHALL DESCRIBE THE PROPOSED  ACTION  AND
 REASONABLE ALTERNATIVES TO THE ACTION, AND BRIEFLY DISCUSS, ON THE BASIS
 OF  INFORMATION  THEN  AVAILABLE,  THE  REMAINING  ITEMS  REQUIRED TO BE
 SUBMITTED  BY  CLAUSE  (I)  OF THIS SUBPARAGRAPH. THE PURPOSE OF A DRAFT
 ECONOMIC STATEMENT IS TO RELATE ECONOMIC AND  SOCIAL  CONSIDERATIONS  TO
 THE  INCEPTION  OF  THE PLANNING PROCESS, TO INFORM THE PUBLIC AND OTHER
 PUBLIC AGENCIES AS EARLY AS POSSIBLE ABOUT  PROPOSED  ACTIONS  THAT  MAY
 SIGNIFICANTLY  AFFECT THE QUALITY OF THE ECONOMIC AND SOCIAL CONDITIONS,
 AND TO SOLICIT COMMENTS WHICH WILL ASSIST THE CORPORATION IN  THE  DECI-
 SION  MAKING PROCESS IN DETERMINING THE ECONOMIC AND SOCIAL CONSEQUENCES
 OF THE PROPOSED ACTION. THE DRAFT STATEMENT SHALL RESEMBLE IN  FORM  AND
 CONTENT THE ECONOMIC IMPACT STATEMENT TO BE PREPARED AFTER COMMENTS HAVE
 BEEN  RECEIVED  AND  CONSIDERED  PURSUANT TO CLAUSE (I) OF THIS SUBPARA-
 GRAPH; PROVIDED, HOWEVER, THAT  THE  LENGTH  AND  DETAIL  OF  THE  DRAFT
 ECONOMIC  STATEMENT  WILL  NECESSARILY REFLECT THE PRELIMINARY NATURE OF
 THE PROPOSAL AND THE EARLY STAGE AT WHICH IT IS PREPARED;
   (B) THE DRAFT STATEMENT SHALL BE FILED WITH THE APPROPRIATE  GOVERNING
 BODY  OF  EACH  MUNICIPALITY  OR POLITICAL SUBDIVISION THEREOF FOR WHOSE
 BENEFIT SUCH CORPORATION IS ESTABLISHED.
   (IV) (A) AFTER THE FILING OF A DRAFT ECONOMIC  IMPACT  STATEMENT,  THE
 CORPORATION  SHALL  DETERMINE WHETHER OR NOT TO CONDUCT A PUBLIC HEARING
 ON THE ECONOMIC IMPACT OF THE PROPOSED ACTION. SUCH PUBLIC HEARING SHALL
 BE HELD IN A CITY, TOWN OR VILLAGE WHERE THE PROJECT IS PROPOSED  TO  BE
 LOCATED OR, IN CITIES HAVING A POPULATION OF ONE MILLION OR MORE, IN THE
 COMMUNITY  DISTRICT OR DISTRICTS IN WHICH SUCH PROJECT IS PROPOSED TO BE
 LOCATED OR IN THE RESPECTIVE BOROUGH, IF SUCH PROJECT IS PROPOSED TO  BE
 LOCATED  IN  TWO OR MORE COMMUNITY DISTRICTS.  THE CORPORATION MUST GIVE
 AT LEAST THIRTY DAYS' PUBLISHED NOTICE OF SUCH PUBLIC HEARING AND SHALL,
 AT THE SAME TIME, PROVIDE NOTICE OF SUCH HEARING TO THE CHIEF  EXECUTIVE
 OFFICER  OF  EACH  AFFECTED TAX JURISDICTION WITHIN WHICH THE PROJECT IS
 PROPOSED TO BE LOCATED. THE NOTICE OF HEARING MUST STATE  THE  TIME  AND
 PLACE  OF  THE HEARING, CONTAIN A GENERAL, FUNCTIONAL DESCRIPTION OF THE
 PROJECT, DESCRIBE THE PROSPECTIVE LOCATION OF THE PROJECT, IDENTIFY  THE
 INITIAL  OWNER,  OPERATOR, OR MANAGER OF THE PROJECT, GENERALLY DESCRIBE
 THE FINANCIAL ASSISTANCE CONTEMPLATED BY THE CORPORATION WITH RESPECT TO
 THE PROJECT, AND PROVIDE AN OPPORTUNITY FOR THE  PUBLIC  TO  REVIEW  THE
 PROJECT  APPLICATION,  WHICH  SHALL INCLUDE AN ANALYSIS OF THE COSTS AND
 BENEFITS OF  THE  PROPOSED  PROJECT.  THE  NOTICE  OF  HEARING  MUST  BE
 PUBLISHED IN THE STATE REGISTER AND THE WEBSITE OF THE CORPORATION.
   (B)  IF  THE  CORPORATION  DETERMINES TO HOLD SUCH A HEARING, IT SHALL
 COMMENCE THE HEARING WITHIN SIXTY DAYS OF THE  FILING  AND,  UNLESS  THE
 PROPOSED  ACTION  IS  WITHDRAWN  FROM  CONSIDERATION,  SHALL PREPARE THE
 ECONOMIC IMPACT STATEMENT WITHIN FORTY-FIVE DAYS AFTER THE CLOSE OF  THE
 HEARING, EXCEPT AS OTHERWISE PROVIDED. THE NEED FOR SUCH A HEARING SHALL
 BE  DETERMINED IN ACCORDANCE WITH PROCEDURES ADOPTED BY THE CORPORATION.
 IF NO HEARING IS HELD, THE CORPORATION SHALL PREPARE AND MAKE  AVAILABLE
 THE  ECONOMIC IMPACT STATEMENT WITHIN SIXTY DAYS AFTER THE FILING OF THE
 DRAFT, EXCEPT AS OTHERWISE PROVIDED.
   (C) NOTWITHSTANDING THE SPECIFIED TIME  PERIODS  ESTABLISHED  BY  THIS
 SUBPARAGRAPH,  A CORPORATION SHALL VARY THE TIMES SO ESTABLISHED IN THIS
 CLAUSE FOR PREPARATION, REVIEW, AND PUBLIC HEARINGS  TO  COORDINATE  THE
 ECONOMIC  AND  SOCIAL  REVIEW  PROCESS WITH OTHER PROCEDURES RELATING TO
 REVIEW AND APPROVAL OR DISAPPROVAL  OF  AN  ACTION.  AN  APPLICATION  OR
 AUTHORIZATION FOR AN ACTION UPON WHICH A DRAFT ECONOMIC IMPACT STATEMENT
 IS  DETERMINED  TO  BE  REQUIRED  SHALL NOT BE COMPLETE UNTIL SUCH DRAFT
 STATEMENT HAS BEEN FILED AND ACCEPTED BY THE CORPORATION AS SATISFACTORY

 A. 2298                             4
 
 WITH RESPECT TO SCOPE,  CONTENT,  AND  ADEQUACY  FOR  PURPOSES  OF  THIS
 SUBPARAGRAPH.  COMMENCING  UPON  SUCH  ACCEPTANCE,  THE  ECONOMIC IMPACT
 STATEMENT PROCESS SHALL RUN CONCURRENTLY WITH OTHER PROCEDURES  RELATING
 TO  THE REVIEW AND APPROVAL OF THE ACTION, SO LONG AS REASONABLE TIME IS
 PROVIDED FOR PREPARATION, REVIEW, AND PUBLIC HEARINGS  WITH  RESPECT  TO
 THE DRAFT ECONOMIC IMPACT STATEMENT.
   (V)  TO  THE  EXTENT  POSSIBLE, THE ECONOMIC IMPACT STATEMENT PREPARED
 PURSUANT TO CLAUSE (I) OF THIS SUBPARAGRAPH, TOGETHER WITH THE  COMMENTS
 OF  PUBLIC  AGENCIES  AND MEMBERS OF THE PUBLIC, SHALL BE FILED WITH THE
 GOVERNING BODY OF EACH MUNICIPALITY OR POLITICAL SUBDIVISION THEREOF FOR
 WHOSE BENEFIT SUCH CORPORATION IS ESTABLISHED AND MADE AVAILABLE TO  THE
 PUBLIC  PRIOR  TO  ACTING  ON  THE  PROPOSAL WHICH IS THE SUBJECT OF THE
 ECONOMIC IMPACT STATEMENT.
   (VI) A CORPORATION MAY CHARGE A FEE TO AN  APPLICANT  TO  RECOVER  THE
 COSTS  INCURRED  IN  PREPARING  OR CAUSING TO BE PREPARED OR REVIEWING A
 DRAFT ECONOMIC IMPACT STATEMENT OR AN ECONOMIC IMPACT STATEMENT  ON  THE
 ACTION  WHICH  THE  APPLICANT  REQUESTS  FROM THE CORPORATION; PROVIDED,
 HOWEVER, THAT AN APPLICANT MAY NOT BE CHARGED A SEPARATE  FEE  FOR  BOTH
 THE PREPARATION AND REVIEW OF SUCH STATEMENTS. THE TECHNICAL SERVICES OF
 THE  CORPORATION  MAY  BE  MADE  AVAILABLE ON A FEE BASIS REFLECTING THE
 COSTS THEREOF TO A REQUESTING APPLICANT, WHICH FEE OR FEES MAY APPROPRI-
 ATELY BE CHARGED BY THE CORPORATION TO THE  APPLICANT  UNDER  RULES  AND
 REGULATIONS, WHICH THE CORPORATION SHALL ISSUE FOR SUCH PURPOSE.
   (VII)  WHEN  A  CORPORATION  DECIDES TO CARRY OUT OR APPROVE AN ACTION
 WHICH HAS BEEN THE SUBJECT OF AN ECONOMIC  IMPACT  STATEMENT,  IT  SHALL
 MAKE AN EXPLICIT FINDING THAT THE REQUIREMENTS OF THIS SUBPARAGRAPH HAVE
 BEEN MET AND THAT, CONSISTENT WITH SOCIAL, ECONOMIC, AND OTHER ESSENTIAL
 CONSIDERATION,  TO  THE  MAXIMUM  EXTENT  PRACTICABLE, ADVERSE ECONOMIC,
 SOCIAL, AND COMMUNITY EFFECTS REVEALED IN THE ECONOMIC IMPACT  STATEMENT
 PROCESS WILL BE MINIMIZED OR AVOIDED.
   (3) Before any sale or lease to a local development corporation incor-
 porated  or  reincorporated  under  this  article shall be authorized, a
 public hearing shall be held by the local legislative body, or  [by  the
 board  of  estimate],  IN  CITIES  HAVING A POPULATION OF ONE MILLION OR
 MORE, BY THE COMMUNITY BOARD OR BOARDS OR THE RESPECTIVE BOROUGH  BOARD,
 as  the  case  may be, to consider the proposed sale or lease ONLY AFTER
 THE COMPLETION OF THE ECONOMIC IMPACT STATEMENT REQUIRED BY SUBPARAGRAPH
 TWO-A OF THIS PARAGRAPH. A PUBLIC HEARING MAY ONLY BE CONVENED  IF  TWO-
 THIRDS  OF  THE  BOARD  MEMBERS ARE PRESENT. IF NOT, SUCH PUBLIC HEARING
 SHALL NOT BE CONVENED AND SHALL BE  RESCHEDULED,  SUBJECT  TO  THE  SAME
 QUORUM REQUIREMENTS.
   §  2.  Paragraph (i) of section 1411 of the not-for-profit corporation
 law is relettered paragraph (j) and a new paragraph (i) is added to read
 as follows:
   (I) MUNICIPAL INPUT.
   (1) BOARD MEMBERS OR EMPLOYEES OF A LOCAL DEVELOPMENT CORPORATION MUST
 NOT BE OR HAVE, WITHIN THE PAST FIVE YEARS, BEEN: (A) AN EMPLOYEE OR  AN
 OWNER OF A FIRM THAT IS A PAID ADVISOR OR CONSULTANT OF THE LOCAL DEVEL-
 OPMENT CORPORATION, INCLUDING A PRESENT OR FORMER INDEPENDENT AUDITOR OF
 THE LOCAL DEVELOPMENT CORPORATION; (B) EMPLOYED BY A SIGNIFICANT SUPPLI-
 ER  OF THE LOCAL DEVELOPMENT CORPORATION; (C) EMPLOYED BY AND HAD A FIVE
 PERCENT OR GREATER OWNERSHIP INTEREST IN A SUPPLIER WHERE SALES  TO  THE
 LOCAL  DEVELOPMENT  CORPORATION  REPRESENT  MORE THAN ONE PERCENT OF THE
 SALES OF THE SUPPLIER OR MORE THAN ONE PERCENT OF THE PURCHASES  OF  THE
 LOCAL  DEVELOPMENT CORPORATION; (D) A "POLITICAL PARTY CHAIRMAN" AS SUCH
 TERM IS DEFINED IN PARAGRAPH (K) OF SUBDIVISION ONE OF SECTION  SEVENTY-

 A. 2298                             5
 
 THREE  OF  THE PUBLIC OFFICERS LAW; OR (E) A LOBBYIST REGISTERED UNDER A
 STATE OR LOCAL LAW COVERING ANY JURISDICTION SERVED IN WHOLE OR IN  PART
 BY  THE  LOCAL DEVELOPMENT CORPORATION.  IN ADDITION, AT LEAST ONE-THIRD
 OF  ALL  MEMBERS  SHALL BE REPRESENTATIVE OF LOCAL GOVERNMENT, ORGANIZED
 LABOR, OR THE ENGINEERING, BUSINESS, OR ENVIRONMENTAL COMMUNITIES.
   (2) THE LOCAL DEVELOPMENT CORPORATION SHALL FILE AN ANNUAL REPORT WITH
 THE ATTORNEY GENERAL NOTING THE LOCAL DEVELOPMENT  CORPORATION'S  FINAN-
 CIAL  ACTIVITY  DURING  EACH  YEAR,  INCLUDING,  BUT NOT LIMITED TO, THE
 AMOUNT AND THE REASON FOR THE AMOUNT AND KINDS OF  FINANCIAL  INCENTIVES
 PROVIDED  TO ANY ENTITY AND ANY OTHER DATA THAT THE ATTORNEY GENERAL MAY
 REQUIRE.  THE REPORT SHALL BE SUBMITTED BEFORE FEBRUARY  FIRST  OF  EACH
 YEAR.  EACH  REPORT  SHALL  BE MADE AVAILABLE TO THE PUBLIC IN AN EASILY
 ACCESSIBLE FORMAT, INCLUDING BUT NOT LIMITED TO  AN  ELECTRONIC  VERSION
 VIA THE WORLD WIDE WEB.
   (3)  ANY  LEASE,  SALE, OR OTHER REVENUES COLLECTED BY THE CORPORATION
 SHALL BE PAID TO THE LOCAL GOVERNING BODY  IN  WHICH  REAL  PROPERTY  OR
 OTHER  SOURCE  OF  REVENUE  IS  LOCATED,  AND  PROPORTIONALLY DIVIDED IF
 LOCATED IN MORE THAN ONE MUNICIPALITY.
   (4) THE GOVERNING BODY OF EACH MUNICIPALITY FOR WHOSE BENEFIT A CORPO-
 RATION IS ESTABLISHED SHALL HAVE THE AUTHORITY TO APPROVE OR  DISAPPROVE
 ANY  AGENCY  USE  OF  EMINENT DOMAIN, DISPOSITION OF CORPORATE PROPERTY,
 ISSUANCE OF BONDS,  ENTRANCE  INTO  AGREEMENTS  REQUIRING  PAYMENTS,  OR
 ENTERING  INTO  AGREEMENTS  FOR  PAYMENTS  IN  LIEU  OF TAXES. EACH SUCH
 GOVERNING BODY SHALL APPROVE OR DISAPPROVE ANY OF  THE  ABOVE  CORPORATE
 DECISIONS  BY  MAJORITY VOTE. WHERE APPLICABLE IN THE ENACTMENT OF LOCAL
 LAWS, THE CHIEF EXECUTIVE  OFFICER  SHALL  APPROVE  OR  DISAPPROVE  SUCH
 GOVERNING  BODY'S DECISION, SUBJECT TO ANY APPLICABLE RIGHT TO OVERRIDE.
 BOARDS SHALL NOT VIOLATE ANY LOCAL ZONING  LAWS,  ORDINANCES,  OR  REGU-
 LATIONS  OR LOCAL DEVELOPMENT PLANS. WHERE APPLICABLE, THE PROVISIONS OF
 THIS SUBPARAGRAPH SHALL APPLY TO MORE THAN ONE LOCAL GOVERNING BODY  AND
 THE NEW YORK JOB DEVELOPMENT AUTHORITY.
   §  3.  Subdivision  2  of section 856 of the general municipal law, as
 amended by chapter 356 of the laws  of  1993,  is  amended  to  read  as
 follows:
   2.  An agency shall be a corporate governmental agency, constituting a
 public benefit corporation. Except as otherwise provided by special  act
 of  the  legislature, an agency shall consist of not less than three nor
 more than seven members who shall be appointed by  the  CHIEF  EXECUTIVE
 OFFICER,  WITH  THE  ADVICE  AND CONSENT OF THE LOCAL governing body, of
 each municipality and who shall serve at the pleasure of the  appointing
 authority.  [Such  members  may include representatives of local govern-
 ment, school boards, organized labor and business.] AT  LEAST  ONE-THIRD
 OF  ALL  MEMBERS  SHALL BE REPRESENTATIVE OF LOCAL GOVERNMENT, ORGANIZED
 LABOR, OR THE ENGINEERING, BUSINESS,  OR  ENVIRONMENTAL  COMMUNITIES.  A
 member  shall  continue  to  hold  office  until his OR HER successor is
 appointed and has qualified. The governing  body  of  each  municipality
 shall  designate  the  first  [chairman]  CHAIRPERSON  and file with the
 secretary of state a certificate of appointment or reappointment of  any
 member.  Such  members  shall receive no compensation for their services
 but shall be entitled to the  necessary  expenses,  including  traveling
 expenses,  incurred  in the discharge of their duties.  MEMBERS MUST NOT
 BE OR HAVE, WITHIN THE PAST FIVE YEARS, BEEN:
   (A) AN EMPLOYEE OR AN OWNER OF A  FIRM  THAT  IS  A  PAID  ADVISOR  OR
 CONSULTANT  OF  THE  AGENCY,  INCLUDING  A PRESENT OR FORMER INDEPENDENT
 AUDITOR OF THE AGENCY;
   (B) EMPLOYED BY A SIGNIFICANT SUPPLIER OF THE AGENCY;

 A. 2298                             6
 
   (C) EMPLOYED BY AND HAD A FIVE PERCENT OR GREATER  OWNERSHIP  INTEREST
 IN  A SUPPLIER WHERE SALES TO THE AGENCY REPRESENT MORE THAN ONE PERCENT
 OF THE SALES OF THE SUPPLIER OR MORE THAN ONE PERCENT OF  THE  PURCHASES
 OF THE AGENCY;
   (D)  A "POLITICAL PARTY CHAIRMAN" AS SUCH TERM IS DEFINED IN PARAGRAPH
 (K) OF SUBDIVISION ONE OF SECTION SEVENTY-THREE OF THE  PUBLIC  OFFICERS
 LAW; OR
   (E)  A  LOBBYIST  REGISTERED  UNDER  A STATE OR LOCAL LAW COVERING ANY
 JURISDICTION SERVED IN WHOLE OR IN PART BY THE AGENCY.
   § 4. Subdivision 15 of section 858 of the general  municipal  law,  as
 added by chapter 356 of the laws of 1993, is amended to read as follows:
   (15)  To  enter  into  agreements requiring payments in lieu of taxes.
 Such agreements shall be in writing and in addition to other terms shall
 contain:  the amount due annually to each affected tax jurisdiction  (or
 a  formula  by  which  the  amount  due can be calculated), the name and
 address of the person, office or agency to which payment shall be deliv-
 ered, the date on which payment shall be made, and  the  date  on  which
 payment  shall  be  considered  delinquent if not paid. Unless otherwise
 agreed by the affected  tax  jurisdictions,  any  such  agreement  shall
 provide that payments in lieu of taxes shall be allocated among affected
 tax  jurisdictions  in proportion to the amount of real property tax and
 other taxes which would have been received by each affected  tax  juris-
 diction  had  the  project  not been tax exempt due to the status of the
 agency involved in the project. A copy of any such  agreement  shall  be
 delivered to each affected tax jurisdiction within fifteen days of sign-
 ing  the  agreement.  In  the  absence  of  any  such written agreement,
 payments in lieu of taxes made by an agency shall be  allocated  in  the
 same  proportions  as  they  had  been  prior to January first, nineteen
 hundred ninety-three for so long as the  agency's  activities  render  a
 project   non-taxable   by  affected  tax  jurisdictions.  STANDARD  TAX
 EXEMPTION POLICIES ESTABLISHED IN LAW OR BY AGENCIES SHALL BE SENT ANNU-
 ALLY TO CHIEF EXECUTIVES AND ALL MEMBERS  OF  GOVERNING  BOARDS  OF  ALL
 AFFECTED  TAX  JURISDICTIONS.  ANY CHANGES TO THE STANDARD TAX EXEMPTION
 POLICIES SHALL ALSO BE SENT TO  CHIEF  EXECUTIVES  AND  ALL  MEMBERS  OF
 GOVERNING  BOARDS  OF AFFECTED TAX JURISDICTIONS. STANDARD TAX EXEMPTION
 POLICIES SHALL ALSO BE MADE AVAILABLE TO THE PUBLIC AND  POSTED  ON  THE
 AGENCY'S  WEBSITE.  EVERY AGENCY SHALL BE REQUIRED TO MAINTAIN, AND MAKE
 AVAILABLE TO ALL LOCAL ELECTED OFFICIALS AND THE PUBLIC, A CURRENT SCHE-
 DULE OF ALL PILOT PAYMENTS DUE EACH YEAR AND THE AMOUNT OF EACH  PAYMENT
 ALLOCABLE TO EACH AFFECTED TAX JURISDICTION ON WHOSE BEHALF THE PILOT IS
 BEING  COLLECTED.   ALL AGENCIES SHALL MAINTAIN, AND MAKE READILY AVAIL-
 ABLE TO ALL LOCAL ELECTED OFFICIALS AND THE PUBLIC, CURRENT SCHEDULES OF
 PROJECT OWNERS WHO ARE IN  ARREARS  IN  THE  MAKING  OF  REQUIRED  PILOT
 PAYMENTS,  THE  AMOUNTS  INVOLVED,  AND THE TIME PERIODS INVOLVED. EVERY
 AGENCY MUST ENSURE THAT ALL PILOT PAYMENTS  ARE  PROMPTLY  RECEIVED  AND
 FULLY TRANSMITTED TO THE TREASURIES OF THE AFFECTED TAX JURISDICTIONS ON
 WHOSE BEHALF THOSE PILOT PAYMENTS WERE COLLECTED;
   §  5.  The  general  municipal  law is amended by adding a new section
 858-c to read as follows:
   § 858-C. MUNICIPAL INPUT. 1. THE GOVERNING BODY OF  EACH  MUNICIPALITY
 FOR  WHOSE  BENEFIT AN AGENCY IS ESTABLISHED SHALL HAVE THE AUTHORITY TO
 APPROVE OR DISAPPROVE ANY AGENCY USE OF EMINENT DOMAIN,  DISPOSITION  OF
 AGENCY  PROPERTY,  ISSUANCE OF BONDS, ENTRANCE INTO AGREEMENTS REQUIRING
 PAYMENTS, OR ENTERING INTO AGREEMENTS FOR PAYMENTS  IN  LIEU  OF  TAXES.
 EACH  SUCH  GOVERNING  BODY SHALL APPROVE OR DISAPPROVE ANY OF THE ABOVE
 AGENCY DECISIONS BY MAJORITY VOTE. WHERE APPLICABLE IN THE ENACTMENT  OF

 A. 2298                             7
 
 LOCAL LAWS, THE CHIEF EXECUTIVE OFFICER SHALL APPROVE OR DISAPPROVE SUCH
 GOVERNING BODY'S DECISION, SUBJECT TO ANY APPLICABLE RIGHT TO OVERRIDE.
   2.  AGENCY BOARDS SHALL NOT VIOLATE ANY LOCAL ZONING LAWS, ORDINANCES,
 OR REGULATIONS OR LOCAL DEVELOPMENT PLANS.
   § 6. Paragraphs (a) and (b) of subdivision 1 of  section  859  of  the
 general municipal law, paragraph (a) as added by chapter 692 of the laws
 of 1989 and paragraph (b) as amended by chapter 357 of the laws of 1993,
 are amended to read as follows:
   (a)  Each  agency shall maintain books and records in such form as may
 be prescribed by the state comptroller.  THE COMPTROLLER SHALL PRESCRIBE
 RULES ON STANDARDIZING THE CALCULATION OF TAX BENEFITS.
   (b) Within ninety days following the close of its  fiscal  year,  each
 agency  or authority shall prepare a financial statement for that fiscal
 year in such form as may be prescribed by the  state  comptroller.  Such
 statement shall be audited within such ninety day period by an independ-
 ent certified public accountant in accordance with government accounting
 standards  established  by  the United States general accounting office.
 The audited financial statement  shall  include  supplemental  schedules
 listing  all  straight-lease  transactions  and  bonds and notes issued,
 outstanding or retired during the applicable accounting  period  whether
 or  not  such bonds, notes or transactions are considered obligations of
 the agency, AND INFORMATION ON PILOTS.  For each issue of bonds or notes
 such schedules shall provide the name  of  each  project  financed  with
 proceeds  of  each issue, and whether the project occupant is a not-for-
 profit corporation, the name and address of each owner of each  project,
 THE  ADDRESS  OF  EACH  PROJECT,  the estimated amount of tax exemptions
 authorized for each project, the purpose for which each bond or note was
 issued, date of issue, interest rate at issuance  and  if  variable  the
 range of interest rates applicable, maturity date, federal tax status of
 each  issue,  and an estimate of the number of jobs created and retained
 by each project. For each  straight-lease  transaction,  such  schedules
 shall provide the name of each project, and whether the project occupant
 is  a  not-for-profit corporation, the name and address of each owner of
 each project, the estimated amount of tax exemptions authorized for each
 project, the purpose for which each transaction was made, the method  of
 financial  assistance  utilized  by  the  project,  other  than  the tax
 exemptions claimed by the project and an estimate of the number of  jobs
 created and retained by each project.
   §  7.  Section 859-a of the general municipal law, as added by chapter
 356 of the laws of 1993, and subdivisions 4, 5 and 6 as added by chapter
 563 of the laws of 2015, is amended to read as follows:
   § 859-a. Additional  prerequisites  to  the  provisions  of  financial
 assistance,  ECONOMIC  IMPACT  STATEMENTS  AND PUBLIC HEARINGS. Prior to
 providing any financial assistance of more  than  one  hundred  thousand
 dollars  to  any  project,  the  agency  must  comply with the following
 prerequisites:
   1. The agency must adopt a resolution describing the project  and  the
 financial  assistance  that  the agency is contemplating with respect to
 such project. AGENCIES MUST MAINTAIN A  LIST  OF  ALL  PENDING  PROJECTS
 ABOUT  WHICH THEY HAVE BEEN CONTACTED, AND MAKE SUCH LISTS AVAILABLE FOR
 PUBLIC INSPECTION, INCLUDING BUT NOT LIMITED TO PUBLISHING THE LISTS  ON
 THE  AGENCY'S  WEBSITE.  IF ANY PERSON REQUESTS MORE INFORMATION ABOUT A
 PARTICULAR PROJECT, THE AGENCY SHALL PROVIDE SUCH INFORMATION  AS  EXPE-
 DITIOUSLY  AS  POSSIBLE.  Such  assistance  shall be consistent with the
 uniform tax exemption policy adopted by the agency pursuant to  subdivi-
 sion four of section eight hundred seventy-four of this [chapter] TITLE,

 A. 2298                             8
 
 unless  the  agency  has followed the procedures for deviation from such
 policy specified in paragraph (b) of such subdivision.  SUCH  ASSISTANCE
 SHALL  ALSO  BE  CONSISTENT  WITH ENVIRONMENTAL PROTECTION, SUCH AS OPEN
 SPACE PROTECTION, THAT WILL PROMOTE NEW DEVELOPMENT PATTERNS IN ORDER TO
 TAKE  ADVANTAGE  OF RESOURCES AND OPPORTUNITIES, SUCH AS EXISTING PUBLIC
 SEWER AND WATER INFRASTRUCTURE, WITHOUT COMPROMISING THE NEEDS OF FUTURE
 GENERATIONS; AND LABOR PROTECTION, INCLUDING  ALL  FEDERAL,  STATE,  AND
 LOCAL  LABOR  LAWS, RULES, OR REGULATIONS. THE AGENCY SHALL NOT GRANT OR
 APPROPRIATE ASSISTANCE TO ANY ENTITY THAT HAS  COMMITTED  VIOLATIONS  OF
 ANY FEDERAL, STATE, OR LOCAL LAWS.
   2.  THE AGENCY SHALL PREPARE (WHERE THE APPLICANT DOES NOT PREPARE THE
 ECONOMIC IMPACT STATEMENT), OR CAUSE  TO  BE  PREPARED  BY  CONTRACT  OR
 OTHERWISE,  AN  ECONOMIC IMPACT STATEMENT ON ANY ACTION THAT IT PROPOSES
 OR APPROVES WHICH MAY HAVE A SIGNIFICANT EFFECT ON  THE  AFFECTED  LOCAL
 ECONOMY AND LOCAL COMMUNITY.  THE AGENCY SHALL USE ALL PRACTICABLE MEANS
 TO  REALIZE  THE POLICIES AND GOALS SET FORTH IN THIS ARTICLE, AND SHALL
 ACT AND CHOOSE ALTERNATIVES WHICH, CONSISTENT WITH SOCIAL, ECONOMIC, AND
 OTHER ESSENTIAL CONSIDERATIONS, TO THE MAXIMUM EXTENT PRACTICABLE, MINI-
 MIZE OR AVOID ADVERSE ECONOMIC EFFECTS, INCLUDING  EFFECTS  REVEALED  IN
 THE  ECONOMIC IMPACT STATEMENT PROCESS. SUCH A STATEMENT SHALL INCLUDE A
 DETAILED STATEMENT SETTING FORTH THE FOLLOWING:
   (A) A DESCRIPTION OF THE PROPOSED ACTION AND ITS ECONOMIC  AND  SOCIAL
 SETTING;
   (B)  THE  ECONOMIC AND SOCIAL IMPACT OF THE PROPOSED ACTION, INCLUDING
 SHORT-TERM AND LONG-TERM EFFECTS, ESPECIALLY TO THE AFFECTED COMMUNITY;
   (C) ANY ADVERSE ECONOMIC EFFECTS WHICH CANNOT BE  AVOIDED  SHOULD  THE
 PROPOSAL BE IMPLEMENTED;
   (D) ALTERNATIVES TO THE PROPOSED ACTION;
   (E)   ANY   IRREVERSIBLE  AND  IRRETRIEVABLE  COMMITMENTS  AND  SOCIAL
 RESOURCES WHICH WOULD BE INVOLVED IN THE PROPOSED ACTION, SHOULD  IT  BE
 IMPLEMENTED;
   (F)  MITIGATION  MEASURES PROPOSED TO MINIMIZE THE ECONOMIC, SOCIAL OR
 OTHER ESSENTIAL IMPACTS; AND
   (G) THE GROWTH-INDUCING ASPECTS OF THE PROPOSED ACTION, WHERE APPLICA-
 BLE AND SIGNIFICANT.
   SUCH A STATEMENT SHALL  ALSO  INCLUDE  COPIES  OR  A  SUMMARY  OF  THE
 SUBSTANTIVE  COMMENTS RECEIVED BY THE AGENCY PURSUANT TO SUBDIVISION SIX
 OF THIS SECTION, AND THE AGENCY RESPONSE TO SUCH COMMENTS.  THE  PURPOSE
 OF AN ECONOMIC IMPACT STATEMENT IS TO PROVIDE DETAILED INFORMATION ABOUT
 THE  EFFECT  WHICH  A  PROPOSED ACTION IS LIKELY TO HAVE ON THE ECONOMY,
 EMPLOYMENT CONDITIONS, AND SOCIAL CHARACTERISTICS  OF  A  COMMUNITY,  TO
 LIST  WAYS IN WHICH ANY ADVERSE EFFECTS OF SUCH AN ACTION MIGHT BE MINI-
 MIZED, AND TO SUGGEST ALTERNATIVES TO SUCH AN ACTION SO AS TO  FORM  THE
 BASIS  FOR  A DECISION AS TO WHETHER OR NOT TO UNDERTAKE OR APPROVE SUCH
 ACTION.  SUCH STATEMENT SHALL BE CLEARLY WRITTEN  IN  A  CONCISE  MANNER
 CAPABLE  OF BEING READ AND UNDERSTOOD BY THE PUBLIC, SHALL DEAL WITH THE
 SPECIFIC SIGNIFICANT ECONOMIC IMPACTS WHICH  CAN  BE  REASONABLY  ANTIC-
 IPATED, AND SHALL NOT CONTAIN MORE DETAIL THAN IS APPROPRIATE, CONSIDER-
 ING THE NATURE AND MAGNITUDE OF THE PROPOSED ACTION AND THE SIGNIFICANCE
 OF ITS POTENTIAL IMPACTS.
   3. THE AGENCY MAY REQUIRE AN APPLICANT TO SUBMIT AN ECONOMIC REPORT TO
 ASSIST  THE  AGENCY  IN CARRYING OUT ITS RESPONSIBILITIES, INCLUDING THE
 INITIAL DETERMINATION AND, (WHERE THE APPLICANT  DOES  NOT  PREPARE  THE
 ECONOMIC IMPACT STATEMENT), THE PREPARATION OF AN ECONOMIC IMPACT STATE-
 MENT  UNDER  THIS ARTICLE. THE AGENCY MAY REQUEST SUCH OTHER INFORMATION
 FROM AN APPLICANT NECESSARY  FOR  THE  REVIEW  OF  ECONOMIC  AND  SOCIAL

 A. 2298                             9
 
 IMPACTS.  NOTWITHSTANDING ANY USE OF OUTSIDE RESOURCES OR WORK, AGENCIES
 SHALL MAKE THEIR OWN INDEPENDENT JUDGMENT OF THE  SCOPE,  CONTENTS,  AND
 ADEQUACY OF AN ECONOMIC IMPACT STATEMENT.
   4.  (A)  AS  EARLY AS POSSIBLE IN THE FORMULATION OF A PROPOSAL FOR AN
 ACTION, THE AGENCY SHALL MAKE AN INITIAL DETERMINATION AS TO WHETHER  OR
 NOT  AN ECONOMIC IMPACT STATEMENT NEED BE PREPARED FOR THE ACTION.  WITH
 RESPECT TO ACTIONS INVOLVING THE ISSUANCE TO AN APPLICANT OF A PERMIT OR
 OTHER ENTITLEMENT, THE AGENCY SHALL NOTIFY THE APPLICANT IN  WRITING  OF
 ITS  INITIAL DETERMINATION, SPECIFYING THEREIN THE BASIS FOR SUCH DETER-
 MINATION.  NOTICE OF THE INITIAL DETERMINATION, ALONG  WITH  APPROPRIATE
 SUPPORTING FINDINGS ON AGENCY ACTIONS, SHALL BE KEPT ON FILE IN THE MAIN
 OFFICE  OF  THE  AGENCY FOR PUBLIC INSPECTION.  IF THE AGENCY DETERMINES
 THAT SUCH STATEMENT IS REQUIRED, THE AGENCY OR  THE  APPLICANT,  AT  THE
 APPLICANT'S  OPTION,  SHALL  PREPARE  OR  CAUSE  TO  BE PREPARED A DRAFT
 ECONOMIC IMPACT STATEMENT.   IF THE  APPLICANT  DOES  NOT  EXERCISE  THE
 OPTION  TO PREPARE SUCH STATEMENT, THE AGENCY SHALL PREPARE IT, CAUSE IT
 TO BE PREPARED, OR TERMINATE ITS REVIEW OF  THE  PROPOSED  ACTION.  SUCH
 STATEMENT SHALL DESCRIBE THE PROPOSED ACTION AND REASONABLE ALTERNATIVES
 TO  THE  ACTION,  AND  BRIEFLY DISCUSS, ON THE BASIS OF INFORMATION THEN
 AVAILABLE, THE REMAINING ITEMS REQUIRED TO BE SUBMITTED  BY  SUBDIVISION
 TWO  OF  THIS  SECTION.  THE PURPOSE OF A DRAFT ECONOMIC STATEMENT IS TO
 RELATE ECONOMIC AND SOCIAL CONSIDERATIONS TO THE INCEPTION OF THE  PLAN-
 NING PROCESS, TO INFORM THE PUBLIC AND OTHER PUBLIC AGENCIES AS EARLY AS
 POSSIBLE ABOUT PROPOSED ACTIONS THAT MAY SIGNIFICANTLY AFFECT THE QUALI-
 TY  OF THE ECONOMIC AND SOCIAL CONDITIONS, AND TO SOLICIT COMMENTS WHICH
 WILL ASSIST THE AGENCY IN THE DECISION MAKING PROCESS IN DETERMINING THE
 ECONOMIC AND SOCIAL CONSEQUENCES  OF  THE  PROPOSED  ACTION.  THE  DRAFT
 STATEMENT  SHALL RESEMBLE IN FORM AND CONTENT THE ECONOMIC IMPACT STATE-
 MENT TO BE PREPARED AFTER COMMENTS HAVE  BEEN  RECEIVED  AND  CONSIDERED
 PURSUANT  TO  SUBDIVISION  TWO OF THIS SECTION; HOWEVER, THAT THE LENGTH
 AND DETAIL OF THE DRAFT ECONOMIC STATEMENT WILL NECESSARILY REFLECT  THE
 PRELIMINARY  NATURE  OF  THE PROPOSAL AND THE EARLY STAGE AT WHICH IT IS
 PREPARED;
   (B) THE DRAFT STATEMENT SHALL BE FILED WITH THE APPROPRIATE  GOVERNING
 BODY OF EACH MUNICIPALITY FOR WHOSE BENEFIT SUCH AGENCY IS ESTABLISHED.
   5.  (A)  AFTER  THE  FILING  OF A DRAFT ECONOMIC IMPACT STATEMENT, THE
 AGENCY SHALL DETERMINE WHETHER OR NOT TO CONDUCT A PUBLIC HEARING ON THE
 ECONOMIC IMPACT OF THE PROPOSED ACTION. SUCH  PUBLIC  HEARING  SHALL  BE
 HELD  IN  A  CITY,  TOWN, OR VILLAGE WHERE THE PROJECT IS PROPOSED TO BE
 LOCATED.  THE AGENCY MUST GIVE AT LEAST THIRTY DAYS' PUBLISHED NOTICE OF
 SUCH PUBLIC HEARING AND SHALL, AT THE SAME TIME, PROVIDE NOTICE OF  SUCH
 HEARING TO THE CHIEF EXECUTIVE OFFICER OF EACH AFFECTED TAX JURISDICTION
 WITHIN  WHICH THE PROJECT IS PROPOSED TO BE LOCATED. THE NOTICE OF HEAR-
 ING MUST STATE THE TIME AND PLACE OF THE  HEARING,  CONTAIN  A  GENERAL,
 FUNCTIONAL DESCRIPTION OF THE PROJECT, DESCRIBE THE PROSPECTIVE LOCATION
 OF  THE PROJECT, IDENTIFY THE INITIAL OWNER, OPERATOR, OR MANAGER OF THE
 PROJECT, GENERALLY DESCRIBE THE FINANCIAL ASSISTANCE CONTEMPLATED BY THE
 AGENCY WITH RESPECT TO THE PROJECT, AND PROVIDE AN OPPORTUNITY  FOR  THE
 PUBLIC  TO REVIEW THE PROJECT APPLICATION, WHICH SHALL INCLUDE AN ANALY-
 SIS OF THE COSTS AND BENEFITS OF THE PROPOSED  PROJECT.  THE  NOTICE  OF
 HEARING  MUST  BE PUBLISHED IN THE STATE REGISTER AND THE WEBSITE OF THE
 AGENCY.
   (B) IF THE AGENCY DETERMINES TO HOLD SUCH A HEARING, IT SHALL COMMENCE
 THE HEARING WITHIN SIXTY DAYS OF THE FILING  AND,  UNLESS  THE  PROPOSED
 ACTION  IS  WITHDRAWN  FROM  CONSIDERATION,  SHALL  PREPARE THE ECONOMIC
 IMPACT STATEMENT WITHIN FORTY-FIVE DAYS AFTER THE CLOSE OF THE  HEARING,

 A. 2298                            10
 
 EXCEPT  AS  OTHERWISE  PROVIDED.  THE  NEED  FOR SUCH A HEARING SHALL BE
 DETERMINED IN ACCORDANCE WITH PROCEDURES ADOPTED BY THE AGENCY  PURSUANT
 TO  SECTION  EIGHT  HUNDRED  FIFTY-EIGHT OF THIS TITLE. IF NO HEARING IS
 HELD,  THE  AGENCY  SHALL PREPARE AND MAKE AVAILABLE THE ECONOMIC IMPACT
 STATEMENT WITHIN SIXTY DAYS AFTER THE FILING OF  THE  DRAFT,  EXCEPT  AS
 OTHERWISE PROVIDED.
   (C)  NOTWITHSTANDING  THE  SPECIFIED  TIME PERIODS ESTABLISHED BY THIS
 ARTICLE, AN AGENCY SHALL VARY THE TIMES SO ESTABLISHED HEREIN FOR PREPA-
 RATION, REVIEW AND PUBLIC HEARINGS TO COORDINATE THE ECONOMIC AND SOCIAL
 REVIEW PROCESS WITH OTHER PROCEDURES RELATING TO REVIEW AND APPROVAL  OF
 AN  ACTION.  AN  APPLICATION OR AUTHORIZATION FOR AN ACTION UPON WHICH A
 DRAFT ECONOMIC IMPACT STATEMENT IS DETERMINED TO BE REQUIRED  SHALL  NOT
 BE  COMPLETE  UNTIL  SUCH DRAFT STATEMENT HAS BEEN FILED AND ACCEPTED BY
 THE AGENCY AS SATISFACTORY WITH RESPECT TO SCOPE, CONTENT, AND  ADEQUACY
 FOR  PURPOSES OF SUBDIVISION FOUR OF THIS SECTION.  COMMENCING UPON SUCH
 ACCEPTANCE, THE ECONOMIC IMPACT STATEMENT PROCESS SHALL RUN CONCURRENTLY
 WITH OTHER PROCEDURES RELATING TO THE REVIEW AND APPROVAL OF THE ACTION,
 SO LONG AS REASONABLE TIME IS  PROVIDED  FOR  PREPARATION,  REVIEW,  AND
 PUBLIC HEARINGS WITH RESPECT TO THE DRAFT ECONOMIC IMPACT STATEMENT.
   6.  TO  THE  EXTENT  POSSIBLE,  THE ECONOMIC IMPACT STATEMENT PREPARED
 PURSUANT TO SUBDIVISION TWO OF THIS SECTION, TOGETHER WITH THE  COMMENTS
 OF  PUBLIC  AGENCIES  AND MEMBERS OF THE PUBLIC, SHALL BE FILED WITH THE
 GOVERNING BODY OF EACH MUNICIPALITY FOR WHOSE  BENEFIT  SUCH  AGENCY  IS
 ESTABLISHED  AND  MADE  AVAILABLE  TO  THE PUBLIC PRIOR TO ACTING ON THE
 PROPOSAL WHICH IS THE SUBJECT OF THE ECONOMIC IMPACT STATEMENT.
   7. AN AGENCY MAY CHARGE A FEE TO AN APPLICANT  TO  RECOVER  THE  COSTS
 INCURRED  IN  PREPARING  OR  CAUSING TO BE PREPARED OR REVIEWING A DRAFT
 ECONOMIC IMPACT STATEMENT OR AN ECONOMIC IMPACT STATEMENT ON THE  ACTION
 WHICH THE APPLICANT REQUESTS FROM THE AGENCY; PROVIDED, HOWEVER, THAT AN
 APPLICANT MAY NOT BE CHARGED A SEPARATE FEE FOR BOTH THE PREPARATION AND
 REVIEW  OF  SUCH STATEMENTS. THE TECHNICAL SERVICES OF THE AGENCY MAY BE
 MADE AVAILABLE ON A FEE BASIS REFLECTING THE COSTS THEREOF TO A REQUEST-
 ING AGENCY, WHICH FEE OR FEES MAY APPROPRIATELY BE CHARGED BY THE AGENCY
 TO THE APPLICANT UNDER RULES AND REGULATIONS TO BE ISSUED BY THE  AGENCY
 FOR SUCH PURPOSE UNDER SECTION EIGHT HUNDRED FIFTY-EIGHT OF THIS TITLE.
   8.  WHEN AN AGENCY DECIDES TO CARRY OUT OR APPROVE AN ACTION WHICH HAS
 BEEN THE SUBJECT OF AN ECONOMIC  IMPACT  STATEMENT,  IT  SHALL  MAKE  AN
 EXPLICIT FINDING THAT THE REQUIREMENTS OF THIS SECTION HAVE BEEN MET AND
 THAT,  CONSISTENT  WITH  SOCIAL, ECONOMIC, AND OTHER ESSENTIAL CONSIDER-
 ATIONS, TO THE MAXIMUM EXTENT PRACTICABLE, ADVERSE ECONOMIC, SOCIAL, AND
 COMMUNITY EFFECTS REVEALED IN THE ECONOMIC IMPACT STATEMENT PROCESS WILL
 BE MINIMIZED OR AVOIDED.
   9. The agency [must] SHALL hold a public hearing with respect  to  the
 project  and the proposed financial assistance being contemplated by the
 agency AFTER THE COMPLETION OF  THE  FINAL  ECONOMIC  IMPACT  STATEMENT.
 [Said]  SUCH  public  hearing  shall be held in a city, town, or village
 where the project [proposes] IS PROPOSED to [locate]  BE  LOCATED.    At
 [said] SUCH public hearing, interested parties shall be provided reason-
 able  opportunity,  both  orally  and in writing, to present their views
 with respect to the project AND THE FINAL ECONOMIC IMPACT  STATEMENT.  A
 PUBLIC  HEARING  MAY ONLY BE CONVENED IF TWO-THIRDS OF THE BOARD MEMBERS
 ARE PRESENT. IF NOT, SUCH PUBLIC HEARING SHALL NOT BE CONVENED AND SHALL
 BE RESCHEDULED, SUBJECT TO THE SAME QUORUM REQUIREMENTS.
   [3] 10. The agency must give at least ten  days  published  notice  of
 [said]  SUCH  public hearing and shall, at the same time, provide notice
 of such hearing to the chief executive  officer  of  each  affected  tax

 A. 2298                            11
 
 jurisdiction  within which the project is located. The notice of hearing
 must state the time and place of the hearing, contain a  general,  func-
 tional  description of the project, describe the prospective location of
 the  project,  identify  the  initial owner, operator, or manager of the
 project, and generally describe the financial assistance contemplated by
 the agency with respect to the project.  THE NOTICE OF HEARING  MUST  BE
 PUBLISHED  IN  THE  STATE  REGISTER  AND THE WEBSITE OF THE AGENCY. SUCH
 ASSISTANCE SHALL ALSO BE CONSISTENT WITH ENVIRONMENTAL PROTECTION,  SUCH
 AS  OPEN SPACE PROTECTION, THAT WILL PROMOTE NEW DEVELOPMENT PATTERNS IN
 ORDER TO TAKE ADVANTAGE OF RESOURCES AND OPPORTUNITIES, SUCH AS EXISTING
 PUBLIC SEWER AND WATER INFRASTRUCTURE, WITHOUT COMPROMISING THE NEEDS OF
 FUTURE GENERATIONS; AND LABOR PROTECTION, INCLUDING ALL FEDERAL,  STATE,
 AND  LOCAL  LABOR LAWS, RULES OR REGULATIONS. THE AGENCY SHALL NOT GRANT
 OR APPROPRIATE ASSISTANCE TO ANY ENTITY THAT HAS COMMITTED VIOLATIONS OF
 ANY FEDERAL, STATE, OR LOCAL LAWS.
   [4.] 11. Each agency shall develop a standard application form,  which
 shall  be used by the agency to accept requests for financial assistance
 from all individuals, firms, companies, developers or other entities  or
 organizations. The standard application form shall be submitted by or on
 behalf of the applicant, and subscribed and affirmed under the penalties
 of  perjury by the applicant, or on behalf of the applicant by the chief
 executive officer or such other individual that is  duly  authorized  to
 bind the applicant, as true, accurate and complete to the best of his or
 her  knowledge.  The standard application form shall include the follow-
 ing, and may include such other supplemental information  as  determined
 to  be  necessary  and  appropriate  by the agency, including supporting
 documents and information provided by or on behalf of the applicant:
   (a) the name and address of the project applicant;
   (b) a description of the proposed project for which financial  assist-
 ance  is requested, including the type of project, proposed location and
 purpose of the project;
   (c) the amount and  type  of  financial  assistance  being  requested,
 including the estimated value of each type of tax exemption sought to be
 claimed by reason of agency involvement in the project;
   (d)  a statement that there is a likelihood that the project would not
 be undertaken but for the financial assistance provided  by  the  agency
 or,  if  the  project  could  be undertaken without financial assistance
 provided by the agency, a statement indicating why the project should be
 undertaken by the agency;
   (e) an estimate of capital costs of the project, including  all  costs
 of  real property and equipment acquisition and building construction or
 reconstruction, financed from private sector sources, an estimate of the
 percentage of project costs financed from public sector sources, and  an
 estimate  of  both  the  amount  to be invested by the applicant and the
 amount to be borrowed to finance the project.
   (f) the projected number of full time equivalent jobs  that  would  be
 retained  and that would be created if the request for financial assist-
 ance is granted, the projected timeframe for the creation of  new  jobs,
 the  estimated  salary and fringe benefit averages or ranges for catego-
 ries of the jobs that would be retained or created if  the  request  for
 financial  assistance is granted, and an estimate of the number of resi-
 dents of the economic development  region  as  established  pursuant  to
 section  two hundred thirty of the economic development law or the labor
 market area as defined by the agency, in which the  project  is  located
 that  would  fill such jobs. The labor market area defined by the agency

 A. 2298                            12
 
 for this purpose may include no more than six contiguous counties in the
 state, including the county in which the project is to be located;
   (g)  a  statement to the effect that the provisions of subdivision one
 of section eight hundred sixty-two of this chapter will not be  violated
 if financial assistance is provided for the proposed project;
   (h)  a statement that the owner, occupant or operator receiving finan-
 cial assistance is in  substantial  compliance  with  applicable  local,
 state  and  federal tax, worker protection and environmental laws, rules
 and regulations; and
   (i) a statement acknowledging that the  submission  of  any  knowingly
 false  or  knowingly  misleading  information  may lead to the immediate
 termination of any financial assistance  and  the  reimbursement  of  an
 amount  equal  to all or part of any tax exemptions claimed by reason of
 agency involvement in the project.
   [5.] 12. Each agency shall develop, and adopt by  resolution,  uniform
 criteria  for the evaluation and selection for each category of projects
 for which financial assistance will  be  provided.  At  a  minimum,  the
 criteria  shall require that, for each project, the following must occur
 prior to the approval of the provision of financial assistance:
   (a) an assessment by the agency of all material  information  included
 in  connection  with the application for financial assistance, as neces-
 sary to afford a reasonable basis for the  decision  by  the  agency  to
 provide financial assistance for the project;
   (b)  a written cost-benefit analysis by the agency that identifies the
 extent to which a project  will  create  or  retain  permanent,  private
 sector  jobs;  the estimated value of any tax exemptions to be provided;
 the amount of private sector investment generated or likely to be gener-
 ated by the  proposed  project;  the  likelihood  of  accomplishing  the
 proposed  project  in  a  timely  fashion;  and  the extent to which the
 proposed project will provide additional sources of revenue for  munici-
 palities  and school districts; and any other public benefits that might
 occur as a result of the project;
   (c) a statement by the applicant that the project, as of the  date  of
 the  application,  is  in  substantial compliance with all provisions of
 this article including, but not  limited  to,  the  provisions  of  this
 section  and  subdivision one of section eight hundred sixty-two of this
 chapter; and
   (d) if the project involves the removal or abandonment of  a  facility
 or plant within the state, notification by the agency to the chief exec-
 utive officer or officers of the municipality or municipalities in which
 the facility or plant was located.
   [6.]  13. Each agency shall develop a uniform agency project agreement
 that sets forth terms and conditions under  which  financial  assistance
 shall be provided. The uniform agency project agreement shall be used by
 the  agency and no financial assistance shall be provided in the absence
 of the execution of such an agreement. The uniform agency project agree-
 ment shall, at a minimum:
   (a) describe the project and the financial assistance,  including  the
 amount and type, to be provided, and the agency purpose to be achieved;
   (b)  require each project owner, occupant or operator receiving finan-
 cial benefits to provide annually a certified statement  and  documenta-
 tion:    (i)  enumerating the full time equivalent jobs retained and the
 full time equivalent jobs created as a result of the  financial  assist-
 ance,  by  category, including full time equivalent independent contrac-
 tors or employees of independent contractors that work  at  the  project
 location,  and  (ii) indicating that the salary and fringe benefit aver-

 A. 2298                            13
 
 ages or ranges for categories of jobs retained and jobs created that was
 provided in the application is still accurate and if  it  is  not  still
 accurate, providing a revised list of salary and fringe benefit averages
 or ranges for categories of jobs retained and jobs created.
   (c)  indicate the dates when PILOT payments are to be made and provide
 an estimate of the amounts for each affected  tax  jurisdiction  of  any
 payments  in lieu of taxes that are included as part of the transaction,
 or formula or formulas by which those amounts may be calculated. In lieu
 of providing such information, a copy of an executed payment in lieu  of
 tax  agreement that contains the same information may be attached to the
 uniform agency project agreement;
   [(e)] (D) provide for the suspension or  discontinuance  of  financial
 assistance, or for the modification of any payment in lieu of tax agree-
 ment  to  require increased payments, in accordance with policies devel-
 oped by the agency pursuant to section  eight  hundred  seventy-four  of
 this title;
   [(f)]  (E)  provide  for  the return of all or a part of the financial
 assistance provided for the project, including all or part of the amount
 of any tax exemptions, which shall be redistributed to  the  appropriate
 affected  tax jurisdiction, as provided for in policies developed by the
 agency pursuant to section eight hundred  seventy-four  of  this  title,
 unless agreed to otherwise by any local taxing jurisdiction or jurisdic-
 tions; and
   [(g)]  (F)  provide  that  the  owner,  occupant or operator receiving
 financial assistance shall certify, under penalty of perjury, that it is
 in substantial compliance with all local, state and federal tax,  worker
 protection and environmental laws, rules and regulations.
   §  8.  Section  860  of the general municipal law, as added by chapter
 1030 of the laws of 1969, is amended to read as follows:
   § 860. Moneys of the agency. The agency shall have power  to  contract
 with  the  holders  of  any  of  its  bonds  or notes as to the custody,
 collection, securing, investment and payment of any moneys of the agency
 or any moneys held in trust or otherwise for the  payment  of  bonds  or
 notes  or  in any way to secure bonds or notes and to carry out any such
 contract. Moneys held in trust or otherwise for the payment of bonds  or
 notes or in any way to secure bonds or notes and deposits of such moneys
 may be secured in the same manner as moneys of the agency, and all banks
 and trust companies are authorized to give such security for such depos-
 its.    ANY  LEASE  PAYMENTS,  REVENUES, OR OTHER EARNINGS OF THE AGENCY
 SHALL BE PAID TO THE LOCAL GOVERNING BODY OF THE MUNICIPALITY FOR  WHOSE
 BENEFIT SUCH AGENCY IS ESTABLISHED.
   §  9.  Section 882 of the general municipal law, as amended by chapter
 373 of the laws of 2012, is amended and a new section 882-a is added  to
 read as follows:
   §  882.  Termination of the agency. Whenever all of the bonds or notes
 issued by the agency shall have been  redeemed  or  cancelled,  and  all
 straight-lease transactions have been terminated, the agency shall cease
 to  exist  and  all rights, titles, and interest and all obligations and
 liabilities thereof vested in or possessed by the agency shall thereupon
 vest in and be possessed by the municipality.  AFTER OCTOBER FIRST,  TWO
 THOUSAND  NINETEEN,  NON-COUNTY  INDUSTRIAL DEVELOPMENT AGENCIES CREATED
 UNDER TITLE TWO OF THIS ARTICLE SHALL NOT BE ABLE TO ISSUE  ANY  FURTHER
 BONDS OR NOTES.
   §  882-A.  PROHIBITION  OF  LOCAL INDUSTRIAL DEVELOPMENT AGENCIES.  NO
 FURTHER INDUSTRIAL DEVELOPMENT AGENCIES MAY BE CREATED UNLESS THEY ARE A
 COUNTY-WIDE INDUSTRIAL DEVELOPMENT AGENCY.

 A. 2298                            14
 
   § 10. The general municipal law is amended by adding two new  sections
 885 and 885-a to read as follows:
   §  885.  PREVAILING WAGE.  WHENEVER A RECIPIENT OF INDUSTRIAL DEVELOP-
 MENT AGENCY FUNDS, FINANCIAL ASSISTANCE, OR OTHER  BENEFIT  ENTERS  INTO
 ANY  CONTRACT, SUBCONTRACT, LEASE, GRANT, BOND, COVENANT OR OTHER AGREE-
 MENT FOR OR IN CONNECTION  WITH  ANY  CONSTRUCTION,  DEMOLITION,  RECON-
 STRUCTION,  EXCAVATION,  REHABILITATION, REPAIR, RENOVATION, ALTERATION,
 OR IMPROVEMENT PROJECT, SUCH PROJECT SHALL BE  DEEMED  TO  BE  A  PUBLIC
 WORKS  PROJECT  FOR  THE PURPOSES OF ARTICLE EIGHT OF THE LABOR LAW, AND
 ALL OF THE PROVISIONS OF ARTICLE EIGHT OF THE LABOR LAW SHALL BE  APPLI-
 CABLE  TO  ALL THE WORK INVOLVED IN THE CONSTRUCTION, DEMOLITION, RECON-
 STRUCTION, EXCAVATION, REHABILITATION, REPAIR,  RENOVATION,  ALTERATION,
 OR  IMPROVEMENT  OF  SUCH  PROJECT.  FUNDS, FINANCIAL ASSISTANCE, OR ANY
 OTHER BENEFITS PROVIDED PURSUANT TO THIS ARTICLE SHALL NOT  BE  UTILIZED
 FOR  OR IN CONNECTION WITH THE CONSTRUCTION, DEMOLITION, RECONSTRUCTION,
 EXCAVATION, REHABILITATION, REPAIR, RENOVATION, ALTERATION, OR  IMPROVE-
 MENT  OF  ANY  PROJECT  TO  WHICH THE PROVISIONS OF ARTICLE EIGHT OF THE
 LABOR LAW ARE NOT APPLICABLE.
   § 885-A.  RECAPTURE. IF A RECIPIENT ENTITY OF AGENCY  ASSISTANCE  DOES
 NOT  ABIDE BY ANY PROVISION OF THIS ARTICLE OR REQUIREMENT MADE APPLICA-
 BLE PURSUANT TO THE AUTHORITY OF THIS ARTICLE, IT SHALL PAY BACK TO  THE
 AGENCY  THAT  FRACTION  OF  DEVELOPMENTAL ASSISTANCE THAT ACCRUED TO ITS
 BENEFIT FOR THE CALENDAR YEAR IN WHICH THE BENEFIT OCCURRED, PLUS INTER-
 EST AT A RATE DETERMINED BY THE GRANTING AGENCY. FOR ONE-TIME  FORMS  OF
 ASSISTANCE  SUCH  AS GRANTS OR LAND PRICE DISCOUNTS, A DEFAULTING ENTITY
 SHALL PAY BACK TO THE GRANTING AGENCY ONE-FIFTH OF THE VALUE OF  ASSIST-
 ANCE.  REMITTANCE  OF  THE  PAYBACK  BY A RECIPIENT ENTITY TO A GRANTING
 AGENCY SHALL TAKE PLACE WITHIN SIXTY CALENDAR DAYS OF  THE  DELIVERY  OF
 THE DEFAULT NOTICE TO THE RECIPIENT ENTITY.
   §  11.  This  act shall take effect on the sixtieth day after it shall
 have become a law; provided, however, that  the  provisions  of  section
 seven of this act shall take effect immediately.