NY State Senate Bill 2023-S6198

Senate Bill S6198

2023-2024 Legislative Session

Provides for recovery of economic development awards in cases where the recipient relocates outside the state

download bill text pdf

Current Bill Status - In Senate Committee Commerce, Economic Development And Small Business 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

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2024	referred to commerce, economic development and small business
Apr 03, 2023	referred to commerce, economic development and small business

2023-S6198 (ACTIVE) - Details

Current Committee:: Senate Commerce, Economic Development And Small Business
Law Section:: Economic Development Law
Laws Affected:: Amd §100, Ec Dev L
Versions Introduced in Other Legislative Sessions:: 2009-2010: S3307
2011-2012: S1893
2013-2014: S952
2015-2016: S555
2017-2018: S3628
2019-2020: S4612
2021-2022: S5021

2023-S6198 (ACTIVE) - Summary

Provides for the recovery of an economic development award in any case where a recipient relocates outside the state within five years of receiving such award; requires repayment of any such award shall be made pursuant to the timeframe specified in the award agreement.

2023-S6198 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S6198

SPONSOR: PARKER
 
TITLE OF BILL:

An act to amend the economic development law, in relation to including
among the commissioner's duties a mandate to include in all economic
development subsidy agreements provisions allowing the state to recover
previously issued awards from fund recipients in the event of relocation
outside the state

 
PURPOSE:

To recover state revenue intended to retain business when the business
relocates out of state prior to five years from the receipt of the
award.

 
SUMMARY OF PROVISIONS:

Section 1: Subdivision 19 of section 100 of the economic development law
is amended by adding a new paragraph (c).

Section 2: This act shall take effect immediately.

 
JUSTIFICATION:

Provides for the recovery of economic development awards in cases where
the recipient relocates outside the state.

 
LEGISLATIVE HISTORY:

2021-22: S5021 -Referred to Commerce,Economic Development and Small
Buisness

2019-20: S.4612- Referred to Commerce,Econ.Dev,and Small Business

2017-18: S.3628/A.776 Bichotte - REFERRED TO COMMERCE, ECONOMIC DEVEL-
OPMENT AND SMALL BUSINESS

2015-16: S.555/A.6752 - Died in Commerce and Economic Development and
Small Business

2013-14: S.952/A.7239 - Died in Commerce and Economic Development and
Small Business

2011-12: S.1893 - Died in Commerce and Economic Development and Small
Business

2009-10: S.3307 - Referred to Commerce, Economic Development and Small
Business

 
FISCAL IMPLICATIONS:

Savings for the state to provide funding to businesses that are dedi-
cated to remaining in the State.

 
EFFECTIVE DATE:
This act shall take effect immediately, and shall apply only to economic
development awards made after such date.

2023-S6198 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6198
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               April 3, 2023
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Commerce, Economic  Devel-
   opment and Small Business
 
 AN  ACT  to amend the economic development law, in relation to including
   among the commissioner's duties a mandate to include in  all  economic
   development  subsidy  agreements  provisions  allowing  the  state  to
   recover previously issued awards from fund recipients in the event  of
   relocation outside the state
 
   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 CAUSE TO BE INCLUDED IN ANY CONTRACT, AWARD AGREEMENT, MEMORAN-
 DUM OF UNDERSTANDING, LOAN AGREEMENT OR OTHER SUCH DEVICE USED TO TRANS-
 FER  MONEY  OF  THE STATE TO A RECIPIENT THROUGH AN ECONOMIC DEVELOPMENT
 PROGRAM OF THE STATE PROVISIONS REQUIRING THE REPAYMENT TO THE STATE  BY
 A FUND RECIPIENT OF ANY AWARD IN THE EVENT THAT SUCH RECIPIENT RELOCATES
 OUTSIDE  THE  STATE  WITHIN  FIVE  YEARS FROM THE DATE OF RECEIVING SUCH
 AWARD. REPAYMENT OF ANY AWARD TO THE STATE SHALL BE MADE PURSUANT TO THE
 TIME FRAME SPECIFIED IN THE AWARD AGREEMENT.
   § 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07593-01-3

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