S T A T E O F N E W Y O R K
________________________________________________________________________
6311
2019-2020 Regular Sessions
I N A S S E M B L Y
March 5, 2019
___________
Introduced by M. of A. ORTIZ -- read once and referred to the Committee
on Economic Development
AN ACT to amend the economic development law, the public authorities law
and the New York state urban development corporation act, in relation
to establishing a residency requirement for state economic development
assistance
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The economic development law is amended by adding a new
section 107 to read as follows:
§ 107. RESIDENCY REQUIREMENT. (1) THE DEPARTMENT SHALL REQUIRE, AS A
CONDITION OF ANY BUSINESS INCENTIVE PROVIDED BY OR ON BEHALF OF THE
DEPARTMENT TO A RECIPIENT FIRM, THAT: (A) SUCH FIRM SHALL NOT RELOCATE
OUTSIDE THE STATE DURING THE TERM OF SUCH BUSINESS INCENTIVE OR FOR A
PERIOD OF TEN YEARS AFTER THE AWARD OF SUCH BUSINESS INCENTIVE, WHICHEV-
ER IS LONGER, UNLESS THE FULL AMOUNT OF SUCH ASSISTANCE IS REPAID TO THE
STATE AND A PENALTY EQUAL TO FIVE PERCENT OF THE TOTAL ASSISTANCE
RECEIVED IS PAID TO THE STATE, AND (B) IF THE RECIPIENT FIRM RELOCATES
WITHIN THE STATE DURING THE TERM OF SUCH BUSINESS ASSISTANCE IN THE CASE
OF A LOAN OR LOAN GUARANTEE, OR WITHIN TWO YEARS OF RECEIVING AN AWARD,
GRANT, OR OTHER ASSISTANCE, SUCH FIRM SHALL OFFER EMPLOYMENT AT THE NEW
LOCATION TO ITS EMPLOYEES FROM THE ORIGINAL LOCATION IF SUCH EMPLOYMENT
IS AVAILABLE.
(2) NOTWITHSTANDING ANY INCONSISTENT PROVISION OF LAW, UPON A FINDING
THAT A RECIPIENT FIRM RELOCATES FROM ONE COMMUNITY TO ANOTHER COMMUNITY
WITHIN THE STATE WITHIN TWO YEARS OF RECEIVING A BUSINESS INCENTIVE,
SUCH FIRM SHALL BE DEEMED INELIGIBLE TO RECEIVE ANY ADDITIONAL BUSINESS
INCENTIVES FOR A PERIOD OF FIVE YEARS FROM THE DATE OF RELOCATION. UPON
A FINDING THAT A RECIPIENT FIRM RELOCATES OUTSIDE OF THE STATE WITHIN
TWO YEARS OF RECEIVING A BUSINESS INCENTIVE, SUCH FIRM SHALL BE DEEMED
INELIGIBLE TO RECEIVE ANY ADDITIONAL BUSINESS INCENTIVES.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10088-02-9
A. 6311 2
(3) A WAIVER OF THE PROVISIONS OF THIS SECTION MAY BE GRANTED TO A
RECIPIENT FIRM UPON A DETERMINATION OF A LEGITIMATE HARDSHIP PURSUANT TO
SECTION FIFTY-ONE OF THE PUBLIC AUTHORITIES LAW.
(4) FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE
THE FOLLOWING MEANINGS:
(A) "BUSINESS INCENTIVE" MEANS ANY AWARD, CONTRACT FOR SERVICES, GRANT
OR OTHER FINANCIAL ASSISTANCE PROVIDED BY OR ON BEHALF OF THE DEPARTMENT
TO ASSIST AN ELIGIBLE RECIPIENT FIRM IN RETENTION OR CREATION OF JOBS IN
THE STATE WHICH, ALONE OR IN COMBINATION WITH OTHER FINANCIAL ASSISTANCE
PROVIDED BY A STATE AGENCY, PUBLIC AUTHORITY, OR PUBLIC BENEFIT CORPO-
RATION, EXCEEDS FIVE HUNDRED THOUSAND DOLLARS;
(B) "LEGITIMATE HARDSHIP" MEANS A CIRCUMSTANCE UNDER WHICH A RECIPIENT
FIRM IS COMPELLED TO RELOCATE DUE TO UNFORESEEN CIRCUMSTANCES BEYOND THE
DIRECT OR INDIRECT CONTROL OF SUCH RECIPIENT FIRM;
(C) "RECIPIENT FIRM" MEANS ANY PERSON, FIRM, PARTNERSHIP, COMPANY,
ASSOCIATION, OR CORPORATION THAT IS THE RECIPIENT OF A BUSINESS INCEN-
TIVE; AND
(D) "RELOCATE" MEANS THE PHYSICAL TRANSFER OF THE OPERATIONS OF A
RECIPIENT FIRM IN ITS ENTIRETY OR OF ANY DIVISION OF A RECIPIENT FIRM
WHICH INDEPENDENTLY RECEIVES A BUSINESS INCENTIVE FROM THE LOCATION SUCH
BUSINESS OR DIVISION OCCUPIED AT THE TIME IT ACCEPTED SUCH BUSINESS
INCENTIVE.
(5) THE DEPARTMENT SHALL ADOPT RULES AND REGULATIONS NECESSARY TO
IMPLEMENT THE PROVISIONS OF THIS SECTION.
(6) ON OR BEFORE OCTOBER FIRST, TWO THOUSAND TWENTY AND ON OR BEFORE
SUCH DATE ANNUALLY THEREAFTER, THE COMMISSIONER SHALL SUBMIT A REPORT TO
THE GOVERNOR, THE SPEAKER OF THE ASSEMBLY, AND THE TEMPORARY PRESIDENT
OF THE SENATE WITH RESPECT TO THE IMPLEMENTATION AND ENFORCEMENT OF THE
PROVISIONS OF THIS SECTION. SUCH REPORT SHALL INCLUDE, BUT NOT BE LIMIT-
ED TO, A LISTING OF THOSE RECIPIENT FIRMS SUBJECT TO THE PROVISIONS OF
THIS SECTION; THE TOTAL AMOUNT OF THE BUSINESS INCENTIVE ASSOCIATED WITH
EACH FIRM; AND THE AGGREGATE AMOUNT OF FUNDS RETURNED OR ANTICIPATED TO
BE RETURNED TO THE STATE.
§ 2. The public authorities law is amended by adding a new section
1803-b to read as follows:
§ 1803-B. RESIDENCY REQUIREMENT. (1) THE AUTHORITY SHALL REQUIRE, AS A
CONDITION OF ANY BUSINESS INCENTIVE PROVIDED TO A RECIPIENT FIRM, THAT:
(A) SUCH RECIPIENT FIRM SHALL NOT RELOCATE OUTSIDE THE STATE DURING THE
TERM OF SUCH BUSINESS INCENTIVE OR FOR A PERIOD OF TEN YEARS AFTER THE
AWARD OF SUCH BUSINESS INCENTIVE, WHICHEVER IS LONGER, UNLESS THE FULL
AMOUNT OF SUCH ASSISTANCE IS REPAID TO THE STATE AND A PENALTY EQUAL TO
FIVE PERCENT OF THE TOTAL ASSISTANCE RECEIVED IS PAID TO THE STATE, AND
(B) IF THE RECIPIENT FIRM RELOCATES WITHIN THE STATE DURING THE TERM OF
SUCH BUSINESS ASSISTANCE IN THE CASE OF A LOAN OR LOAN GUARANTEE, OR
WITHIN TWO YEARS OF RECEIVING AN AWARD, GRANT, OR OTHER ASSISTANCE, SUCH
FIRM SHALL OFFER EMPLOYMENT AT THE NEW LOCATION TO ITS EMPLOYEES FROM
THE ORIGINAL LOCATION IF SUCH EMPLOYMENT IS AVAILABLE.
(2) NOTWITHSTANDING ANY INCONSISTENT PROVISION OF LAW, UPON A FINDING
THAT A RECIPIENT FIRM RELOCATES FROM ONE COMMUNITY TO ANOTHER COMMUNITY
WITHIN THE STATE WITHIN TWO YEARS OF RECEIVING A BUSINESS INCENTIVE,
SUCH FIRM SHALL BE DEEMED INELIGIBLE TO RECEIVE ANY ADDITIONAL BUSINESS
INCENTIVES FOR A PERIOD OF FIVE YEARS FROM THE DATE OF RELOCATION. UPON
A FINDING THAT A RECIPIENT FIRM RELOCATES OUTSIDE OF THE STATE WITHIN
TWO YEARS OF RECEIVING A BUSINESS INCENTIVE, SUCH FIRM SHALL BE DEEMED
INELIGIBLE TO RECEIVE ANY ADDITIONAL BUSINESS INCENTIVES.
A. 6311 3
(3) A WAIVER OF THE PROVISIONS OF THIS SECTION MAY BE GRANTED TO A
RECIPIENT FIRM UPON A DETERMINATION OF A LEGITIMATE HARDSHIP PURSUANT TO
SECTION FIFTY-ONE OF THIS CHAPTER.
(4) FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE
THE FOLLOWING MEANINGS:
(A) "RECIPIENT FIRM" MEANS ANY PERSON, FIRM, PARTNERSHIP, COMPANY,
ASSOCIATION, OR CORPORATION THAT IS THE RECIPIENT OF A BUSINESS INCEN-
TIVE;
(B) "BUSINESS INCENTIVE" MEANS ANY AWARD, GRANT, INTEREST SUBSIDY
GRANT, LOAN, LOAN GUARANTEE, OR OTHER FINANCIAL ASSISTANCE THAT IS
PROVIDED BY OR ON BEHALF OF THE AUTHORITY TO ASSIST AN ELIGIBLE RECIPI-
ENT FIRM IN THE RETENTION OR CREATION OF JOBS IN THE STATE AND WHICH,
ALONE OR IN COMBINATION WITH OTHER FINANCIAL ASSISTANCE PROVIDED BY A
STATE AGENCY, PUBLIC AUTHORITY, OR PUBLIC BENEFIT CORPORATION, EXCEEDS
FIVE HUNDRED THOUSAND DOLLARS;
(C) "LEGITIMATE HARDSHIP" MEANS A CIRCUMSTANCE UNDER WHICH A RECIPIENT
FIRM IS COMPELLED TO RELOCATE DUE TO UNFORESEEN CIRCUMSTANCES BEYOND THE
DIRECT OR INDIRECT CONTROL OF SUCH RECIPIENT FIRM; AND
(D) "RELOCATE" MEANS THE PHYSICAL TRANSFER OF THE OPERATIONS OF A
RECIPIENT FIRM IN ITS ENTIRETY OR OF ANY DIVISION OF A RECIPIENT FIRM
WHICH INDEPENDENTLY RECEIVES A BUSINESS INCENTIVE FROM THE LOCATION SUCH
BUSINESS OR DIVISION OCCUPIED AT THE TIME IT ACCEPTED SUCH BUSINESS
INCENTIVE.
(5) THE AUTHORITY SHALL ADOPT RULES AND REGULATIONS NECESSARY TO
IMPLEMENT THE PROVISIONS OF THIS SECTION.
(6) ON OR BEFORE OCTOBER FIRST, TWO THOUSAND TWENTY AND ON OR BEFORE
SUCH DATE ANNUALLY THEREAFTER, THE CHAIRMAN SHALL SUBMIT A REPORT TO THE
GOVERNOR, THE SPEAKER OF THE ASSEMBLY, AND THE TEMPORARY PRESIDENT OF
THE SENATE WITH RESPECT TO THE IMPLEMENTATION AND ENFORCEMENT OF THE
PROVISIONS OF THIS SECTION. SUCH REPORT SHALL INCLUDE, BUT NOT BE LIMIT-
ED TO, A LISTING OF THOSE RECIPIENT FIRMS SUBJECT TO THE PROVISIONS OF
THIS SECTION; THE TOTAL AMOUNT OF THE BUSINESS INCENTIVE ASSOCIATED WITH
EACH FIRM; AND THE AGGREGATE AMOUNT OF FUNDS RETURNED OR ANTICIPATED TO
BE RETURNED TO THE STATE.
§ 3. The public authorities law is amended by adding a new section
3105-b to read as follows:
§ 3105-B. RESIDENCY REQUIREMENT. (1) THE CORPORATION SHALL REQUIRE, AS
A CONDITION OF ANY BUSINESS INCENTIVE PROVIDED TO A RECIPIENT FIRM,
THAT: (A) SUCH RECIPIENT FIRM SHALL NOT RELOCATE OUTSIDE THE STATE
DURING THE TERM OF SUCH BUSINESS INCENTIVE OR FOR A PERIOD OF TEN YEARS
AFTER THE AWARD OF SUCH BUSINESS INCENTIVE, WHICHEVER IS LONGER, UNLESS
THE FULL AMOUNT OF SUCH ASSISTANCE IS REPAID TO THE STATE AND A PENALTY
EQUAL TO FIVE PERCENT OF THE TOTAL ASSISTANCE RECEIVED IS PAID TO THE
STATE, AND (B) IF THE RECIPIENT FIRM RELOCATES WITHIN THE STATE DURING
THE TERM OF SUCH BUSINESS ASSISTANCE IN THE CASE OF A LOAN OR LOAN GUAR-
ANTEE, OR WITHIN TWO YEARS OF RECEIVING AN AWARD, GRANT, OR OTHER
ASSISTANCE, SUCH FIRM SHALL OFFER EMPLOYMENT AT THE NEW LOCATION TO ITS
EMPLOYEES FROM THE ORIGINAL LOCATION IF SUCH EMPLOYMENT IS AVAILABLE.
(2) NOTWITHSTANDING ANY INCONSISTENT PROVISION OF LAW, UPON A FINDING
THAT A RECIPIENT FIRM RELOCATES FROM ONE COMMUNITY TO ANOTHER COMMUNITY
WITHIN THE STATE WITHIN TWO YEARS OF RECEIVING A BUSINESS INCENTIVE,
SUCH FIRM SHALL BE DEEMED INELIGIBLE TO RECEIVE ANY ADDITIONAL BUSINESS
INCENTIVES FOR A PERIOD OF FIVE YEARS FROM THE DATE OF RELOCATION. UPON
A FINDING THAT A RECIPIENT FIRM RELOCATES OUTSIDE OF THE STATE WITHIN
TWO YEARS OF RECEIVING A BUSINESS INCENTIVE, SUCH FIRM SHALL BE DEEMED
INELIGIBLE TO RECEIVE ANY ADDITIONAL BUSINESS INCENTIVES.
A. 6311 4
(3) A WAIVER OF THE PROVISIONS OF THIS SECTION MAY BE GRANTED TO A
RECIPIENT FIRM UPON A DETERMINATION OF A LEGITIMATE HARDSHIP PURSUANT TO
SECTION FIFTY-ONE OF THIS CHAPTER.
(4) FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE
THE FOLLOWING MEANINGS:
(A) "RECIPIENT FIRM" MEANS ANY PERSON, FIRM, PARTNERSHIP, COMPANY,
ASSOCIATION OR CORPORATION THAT IS THE RECIPIENT OF A BUSINESS INCEN-
TIVE;
(B) "BUSINESS INCENTIVE" MEANS ANY AWARD, GRANT, CONTRACT FOR
SERVICES, INTEREST SUBSIDY GRANT, LOAN, LOAN GUARANTEE, OR OTHER FINAN-
CIAL ASSISTANCE THAT IS PROVIDED BY OR ON BEHALF OF THE CORPORATION TO
ASSIST AN ELIGIBLE RECIPIENT FIRM IN THE RETENTION OR CREATION OF JOBS
IN THE STATE AND WHICH, ALONE OR IN COMBINATION WITH OTHER FINANCIAL
ASSISTANCE PROVIDED BY A STATE AGENCY, PUBLIC AUTHORITY, OR PUBLIC BENE-
FIT CORPORATION, EXCEEDS FIVE HUNDRED THOUSAND DOLLARS;
(C) "LEGITIMATE HARDSHIP" MEANS A CIRCUMSTANCE UNDER WHICH A RECIPIENT
FIRM IS COMPELLED TO RELOCATE DUE TO UNFORESEEN CIRCUMSTANCES BEYOND THE
DIRECT OR INDIRECT CONTROL OF SUCH RECIPIENT FIRM; AND
(D) "RELOCATE" MEANS THE PHYSICAL TRANSFER OF THE OPERATIONS OF A
RECIPIENT FIRM IN ITS ENTIRETY OR OF ANY DIVISION OF A RECIPIENT FIRM
WHICH INDEPENDENTLY RECEIVES A BUSINESS INCENTIVE FROM THE LOCATION SUCH
BUSINESS OR DIVISION OCCUPIED AT THE TIME IT ACCEPTED SUCH BUSINESS
INCENTIVE.
(5) THE CORPORATION SHALL ADOPT RULES AND REGULATIONS NECESSARY TO
IMPLEMENT THE PROVISIONS OF THIS SECTION.
(6) ON OR BEFORE OCTOBER FIRST, TWO THOUSAND TWENTY AND ON OR BEFORE
SUCH DATE ANNUALLY THEREAFTER, THE CHAIRMAN SHALL SUBMIT A REPORT TO THE
GOVERNOR, THE SPEAKER OF THE ASSEMBLY, AND THE TEMPORARY PRESIDENT OF
THE SENATE WITH RESPECT TO THE IMPLEMENTATION AND ENFORCEMENT OF THE
PROVISIONS OF THIS SECTION. SUCH REPORT SHALL INCLUDE, BUT NOT BE LIMIT-
ED TO, A LISTING OF THOSE RECIPIENT FIRMS SUBJECT TO THE PROVISIONS OF
THIS SECTION; THE TOTAL AMOUNT OF THE BUSINESS INCENTIVE ASSOCIATED WITH
EACH FIRM; AND THE AGGREGATE AMOUNT OF FUNDS RETURNED OR ANTICIPATED TO
BE RETURNED TO THE STATE.
§ 4. Section 1 of chapter 174 of the laws of 1968, constituting the
New York state urban development corporation act, is amended by adding a
new section 31-b to read as follows:
§ 31-B. RESIDENCY REQUIREMENT. (1) THE CORPORATION SHALL REQUIRE, AS A
CONDITION OF ANY BUSINESS INCENTIVE PROVIDED TO A RECIPIENT FIRM, THAT:
(A) SUCH RECIPIENT FIRM SHALL NOT RELOCATE OUTSIDE THE STATE DURING THE
TERM OF SUCH BUSINESS INCENTIVE OR FOR A PERIOD OF TEN YEARS AFTER THE
AWARD OF SUCH BUSINESS INCENTIVE, WHICHEVER IS LONGER, UNLESS THE FULL
AMOUNT OF SUCH ASSISTANCE IS REPAID TO THE STATE AND A PENALTY EQUAL TO
FIVE PERCENT OF THE TOTAL ASSISTANCE RECEIVED IS PAID TO THE STATE, AND
(B) IF THE RECIPIENT FIRM RELOCATES WITHIN THE STATE DURING THE TERM OF
SUCH BUSINESS ASSISTANCE IN THE CASE OF A LOAN OR LOAN GUARANTEE, OR
WITHIN TWO YEARS OF RECEIVING AN AWARD, GRANT OR OTHER ASSISTANCE, SUCH
FIRM SHALL OFFER EMPLOYMENT AT THE NEW LOCATION TO ITS EMPLOYEES FROM
THE ORIGINAL LOCATION IF SUCH EMPLOYMENT IS AVAILABLE.
(2) NOTWITHSTANDING ANY INCONSISTENT PROVISION OF LAW, UPON A FINDING
THAT A RECIPIENT FIRM RELOCATES FROM ONE COMMUNITY TO ANOTHER COMMUNITY
WITHIN THE STATE WITHIN TWO YEARS OF RECEIVING A BUSINESS INCENTIVE,
SUCH FIRM SHALL BE DEEMED INELIGIBLE TO RECEIVE ANY ADDITIONAL BUSINESS
INCENTIVES FOR A PERIOD OF FIVE YEARS FROM THE DATE OF RELOCATION. UPON
A FINDING THAT A RECIPIENT FIRM RELOCATES OUTSIDE OF THE STATE WITHIN
A. 6311 5
TWO YEARS OF RECEIVING A BUSINESS INCENTIVE, SUCH FIRM SHALL BE DEEMED
INELIGIBLE TO RECEIVE ANY ADDITIONAL BUSINESS INCENTIVES.
(3) A WAIVER OF THE PROVISIONS OF THIS SECTION MAY BE GRANTED TO A
RECIPIENT FIRM UPON A DETERMINATION OF A LEGITIMATE HARDSHIP PURSUANT TO
SECTION FIFTY-ONE OF THE PUBLIC AUTHORITIES LAW.
(4) FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE
THE FOLLOWING MEANINGS:
(A) "RECIPIENT FIRM" MEANS ANY PERSON, FIRM, PARTNERSHIP, COMPANY,
ASSOCIATION, OR CORPORATION THAT IS THE RECIPIENT OF A BUSINESS INCEN-
TIVE;
(B) "BUSINESS INCENTIVE" MEANS ANY AWARD, GRANT, INTEREST SUBSIDY
GRANT, LOAN, LOAN GUARANTEE, OR OTHER FINANCIAL ASSISTANCE THAT IS
PROVIDED BY OR ON BEHALF OF THE CORPORATION TO ASSIST AN ELIGIBLE RECIP-
IENT FIRM IN THE RETENTION OR CREATION OF JOBS IN THE STATE AND WHICH,
ALONE OR IN COMBINATION WITH OTHER FINANCIAL ASSISTANCE PROVIDED BY A
STATE AGENCY, PUBLIC AUTHORITY, OR PUBLIC BENEFIT CORPORATION, EXCEEDS
FIVE HUNDRED THOUSAND DOLLARS;
(C) "LEGITIMATE HARDSHIP" MEANS A CIRCUMSTANCE UNDER WHICH A RECIPIENT
FIRM IS COMPELLED TO RELOCATE DUE TO UNFORESEEN CIRCUMSTANCES BEYOND THE
DIRECT OR INDIRECT CONTROL OF SUCH RECIPIENT FIRM; AND
(D) "RELOCATE" MEANS THE PHYSICAL TRANSFER OF THE OPERATIONS OF A
RECIPIENT FIRM IN ITS ENTIRETY OR OF ANY DIVISION OF A RECIPIENT FIRM
WHICH INDEPENDENTLY RECEIVES A BUSINESS INCENTIVE FROM THE LOCATION SUCH
BUSINESS OR DIVISION OCCUPIED AT THE TIME IT ACCEPTED SUCH BUSINESS
INCENTIVE.
(5) THE CORPORATION SHALL ADOPT RULES AND REGULATIONS NECESSARY TO
IMPLEMENT THE PROVISIONS OF THIS SECTION.
(6) ON OR BEFORE OCTOBER FIRST, TWO THOUSAND TWENTY AND ON OR BEFORE
SUCH DATE ANNUALLY THEREAFTER, THE CHAIRMAN SHALL SUBMIT A REPORT TO THE
GOVERNOR, THE SPEAKER OF THE ASSEMBLY, AND THE TEMPORARY PRESIDENT OF
THE SENATE WITH RESPECT TO THE IMPLEMENTATION AND ENFORCEMENT OF THE
PROVISIONS OF THIS SECTION. SUCH REPORT SHALL INCLUDE, BUT NOT BE LIMIT-
ED TO, A LISTING OF THOSE RECIPIENT FIRMS SUBJECT TO THE PROVISIONS OF
THIS SECTION; THE TOTAL AMOUNT OF THE BUSINESS INCENTIVE ASSOCIATED WITH
EACH FIRM; AND THE AGGREGATE AMOUNT OF FUNDS RETURNED OR ANTICIPATED TO
BE RETURNED TO THE STATE.
§ 5. Section 51 of the public authorities law is amended by adding two
new subdivisions 3-b and 3-c to read as follows:
3-B. UPON A DETERMINATION OF LEGITIMATE HARDSHIP, THE BOARD MAY WAIVE
ANY REQUIREMENTS ESTABLISHED PURSUANT TO SECTION ONE HUNDRED SEVEN OF
THE ECONOMIC DEVELOPMENT LAW, SECTIONS EIGHTEEN HUNDRED THREE-B AND
THIRTY-ONE HUNDRED FIVE-B OF THIS CHAPTER, OR SECTION THIRTY-ONE-B OF
THE NEW YORK STATE URBAN DEVELOPMENT CORPORATION ACT. IN MAKING SUCH A
DETERMINATION, THE BOARD SHALL FIND THAT SUFFICIENT JUSTIFICATION EXISTS
FOR THE FAILURE OF A RECIPIENT FIRM TO FULLY EXECUTE AND COMPLETE THE
TERMS AND CONDITIONS ASSOCIATED WITH THE AWARD OF A BUSINESS INCENTIVE.
3-C. INSOFAR AS THE PROVISIONS OF SUBDIVISION THREE-B OF THIS SECTION
ARE INCONSISTENT WITH THE PROVISIONS OF ANY OTHER GENERAL OR SPECIAL
LAW, THE PROVISIONS OF SUCH SUBDIVISION THREE-B SHALL BE CONTROLLING.
§ 6. This act shall take effect immediately and shall apply only to
business incentives awarded on and after such date.