S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7879
 
                             I N  S E N A T E
 
                             January 18, 2022
                                ___________
 
 Introduced  by  Sen.  COONEY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Finance
 
 AN ACT to amend the economic development law, in relation to  establish-
   ing  the  strategic  site  readiness fund; and making an appropriation
   therefor
 
   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
 article 26 to read as follows:
                                ARTICLE 26
                       STRATEGIC SITE READINESS FUND
 SECTION 480. LEGISLATIVE INTENT.
         481. ADMINISTRATION.
         482. STRATEGIC SITE READINESS FUND.
         483. REPORTING.
   § 480. LEGISLATIVE INTENT. IT IS HEREBY FOUND AND  DECLARED  THAT  NEW
 YORK  STATE NEEDS, AS A MATTER OF PUBLIC POLICY, TO CULTIVATE A RESOURCE
 OF COMMERCIAL, INDUSTRIAL SITES THAT ARE READILY AVAILABLE TO NEW  BUSI-
 NESSES, ESTABLISHED BUSINESSES THAT ARE CONSIDERING MOVING TO THE STATE,
 OR  EXISTING  BUSINESSES  WITHIN THE STATE THAT NEED ADDITIONAL SITES TO
 REMAIN OR EXPAND WITHIN THE STATE. TO EXPAND AND SUSTAIN ECONOMIC GROWTH
 WITHIN THE STATE, IT IS CRITICAL TO CONSISTENTLY MAINTAIN READILY AVAIL-
 ABLE COMMERCIAL, INDUSTRIAL SITES TO ATTRACT  NEW  BUSINESS,  OR  EXPAND
 EXISTING  BUSINESSES. WITHOUT A STABLE INVENTORY OF SITES THAT ARE READY
 OR ABLE TO BE DEVELOPED IN A TIMELY MANNER FOR BUSINESS USE,  THE  DELAY
 IN  CONVERTING  UNDEVELOPED  SITES  CAPABLE  OF  CONDUCTING  BUSINESS IN
 COMPLIANCE WITH APPLICABLE REGULATIONS  AND  ORDINANCES  MAY  CAUSE  THE
 STATE  TO LOSE SIGNIFICANT BUSINESS OPPORTUNITIES THAT WOULD BENEFIT THE
 ECONOMIC WELL-BEING OF ITS CITIZENS.
   § 481. ADMINISTRATION. IN FURTHERANCE OF THESE PURPOSES,  THE  DEPART-
 MENT IS HEREBY AUTHORIZED AND DIRECTED TO:
   (A)  ESTABLISH  THE  STRATEGIC SITE READINESS FUND ("FUND") TO PROVIDE
 ECONOMIC ASSISTANCE FOR RENOVATION, CONSTRUCTION, OR OTHER  IMPROVEMENTS
 TO  INFRASTRUCTURE  TO  ATTRACT  NEW BUSINESSES TO THIS STATE, OR EXPAND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD14344-01-2
 S. 7879                             2
 
 EXISTING BUSINESSES IN THIS STATE, WHEN  SUCH  AN  ECONOMIC  DEVELOPMENT
 OPPORTUNITY WOULD CREATE QUALITY, FULL-TIME JOBS WITHIN THE STATE;
   (B)  DEVELOP AN APPLICATION PROCESS FOR MUNICIPALITIES AND COUNTIES TO
 ACCESS FUNDING FOR QUALIFYING PROJECTS AND PROMULGATE A LIST OF QUALIFY-
 ING EXPENSES, INCLUDING BUT NOT LIMITED TO COSTS RELATED TO LAND  ACQUI-
 SITION,  LAND  ASSEMBLY,  DESIGN,  ZONING, ENGINEERING, PERMITTING, SITE
 UTILITY, BROADBAND, TRANSPORTATION, ENABLING, AND DEMOLITION;
   (C) INCLUDE IN THE APPLICATION PROCESS, A REQUIREMENT FOR EACH PROJECT
 TO INCLUDE A STRATEGY TO ENSURE RESIDENTS IN THE SURROUNDING AREA OF THE
 PROJECT WILL HAVE ACCESS TO THE JOBS CREATED BY THE PROJECT;
   (D) DEVELOP RULES AND REGULATIONS TO DISTRIBUTE  FUNDING  THROUGH  THE
 REGIONAL  ECONOMIC  DEVELOPMENT  COUNCILS IN ACCORDANCE WITH SECTION TWO
 HUNDRED THIRTY-ONE OF THIS CHAPTER; AND
   (E) DEVELOP RULES AND REGULATIONS TO ENSURE  COMPLIANCE  WITH  ARTICLE
 FIFTEEN-A OF THE EXECUTIVE LAW.
   §  482. STRATEGIC SITE READINESS FUND. (A) THERE IS HEREBY ESTABLISHED
 IN THE JOINT CUSTODY OF THE STATE COMPTROLLER AND  THE  COMMISSIONER  OF
 TAXATION  AND  FINANCE A SPECIAL FUND TO BE KNOWN AS THE "STRATEGIC SITE
 READINESS FUND".
   (B) MONEY ALLOCATED TO THE STRATEGIC SITE READINESS FUND SHALL BE KEPT
 SEPARATE AND SHALL NOT BE COMMINGLED WITH ANY OTHER FUNDS IN THE CUSTODY
 OF THE STATE COMPTROLLER.
   (C) SUCH FUND SHALL CONSIST OF ALL MONIES APPROPRIATED,  CREDITED,  OR
 TRANSFERRED THERETO FROM ANY OTHER FUND OR SOURCE PURSUANT TO LAW.
   §  483.  REPORTING.  (A)  THE  DEPARTMENT SHALL, ANNUALLY ON OR BEFORE
 DECEMBER FIRST, PREPARE AND SUBMIT AN ANNUAL REPORT TO THE GOVERNOR  AND
 THE  CHAIR OF THE ASSEMBLY WAYS AND MEANS COMMITTEE AND THE CHAIR OF THE
 SENATE FINANCE COMMITTEE. SUCH REPORT SHALL CONTAIN  AT  A  MINIMUM  THE
 FOLLOWING  INFORMATION:  (I)  A  LIST  OF  ALL APPLICATIONS FILED BY ANY
 PUBLIC ENTITY FOR A GRANT UNDER THE FUND INCLUDING THE NAME OF THE ENTI-
 TY, A BRIEF DESCRIPTION OF THE PROJECT, AND  THE  AMOUNT  OF  THE  GRANT
 REQUESTED; (II) A LIST OF THE APPLICATIONS GRANTED BY THE BOARD SPECIFY-
 ING  THE  AMOUNT  OF THE GRANT APPROVED IF SUCH AMOUNT IS DIFFERENT FROM
 THE AMOUNT APPLIED FOR; AND (III) A STATEMENT SHOWING THE DOLLAR  AMOUNT
 OF  ALL  GRANTS APPROVED AND THE DOLLAR AMOUNT OF THE REMAINING CAPACITY
 FOR FUTURE GRANTS.
   (B) ANY ELIGIBLE PUBLIC ENTITY RECEIVING  A  GRANT  PURSUANT  TO  THIS
 ARTICLE  SHALL  REPORT TO THE DEPARTMENT NO LATER THAN JUNE FIRST ON THE
 USE OF FUNDING RECEIVED AND ITS PROGRAMMATIC AND  ECONOMIC  IMPACT.  THE
 DEPARTMENT  SHALL  SUBMIT  A  REPORT NO LATER THAN NOVEMBER FIRST TO THE
 GOVERNOR, THE DIRECTOR OF THE BUDGET, THE  TEMPORARY  PRESIDENT  OF  THE
 SENATE,  AND  THE SPEAKER OF THE ASSEMBLY ON THE AGGREGATE IMPACT OF THE
 FUND. SUCH REPORT SHALL PROVIDE INFORMATION ON THE PROGRESS AND ECONOMIC
 IMPACT OF EACH PROJECT.
   § 2.  The sum of five hundred million  dollars  ($500,000,000)  to  be
 distributed  in  the  2023  fiscal  year  is  hereby appropriated to the
 department of economic development out of any moneys in the state treas-
 ury in the general fund to the credit of the local  assistance  account,
 not  otherwise  appropriated,  and  made  immediately available, for the
 purpose of carrying out the provisions of this act.
   § 3. This act shall take effect immediately.