Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to finance |
May 19, 2023 |
referred to finance |
Senate Bill S7291
2023-2024 Legislative Session
Sponsored By
(D) 61st Senate District
Current Bill Status - In Senate Committee Finance 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
Actions
2023-S7291 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A199
- Current Committee:
- Senate Finance
- Law Section:
- Executive Law
- Laws Affected:
- Add §163-b, Exec L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S1969
2011-2012: S2972
2013-2014: S1727
2015-2016: S3727
2017-2018: S2177
2019-2020: S2868, A7259
2021-2022: S184, A1349
2023-S7291 (ACTIVE) - Summary
Authorizes recoupment by the state or any political subdivision of financial incentives such as awards, loans, grants or tax abatements, awarded businesses for purposes of job training, job creation or retention, or the development of business operations, upon recipient's failure to complete the terms of the incentive.
2023-S7291 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7291 SPONSOR: RYAN TITLE OF BILL: An act to amend the executive law, in relation to the recoupment of economic incentives to businesses PURPOSE: To require that companies which receive economic incentives for the purpose of job creation or expansion of operations fulfill their prom- ise, unless unforeseen circumstances arise. SUMMARY OF PROVISIONS: Provides that where the State, a public benefit corporation including an industrial development authority, or a municipality provides an economic incentive to a company for the purpose of job training, job creation or retention, or expansion of operations, such agreement shall be in writ- ing and state the terms and conditions of the incentive. Where the company's promise is not fulfilled, the agency shall be authorized to
2023-S7291 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7291 2023-2024 Regular Sessions I N S E N A T E May 19, 2023 ___________ Introduced by Sen. RYAN -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the executive law, in relation to the recoupment of economic incentives to businesses THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The executive law is amended by adding a new section 163-b to read as follows: § 163-B. RECOUPMENT OF ECONOMIC INCENTIVES. 1. NOTWITHSTANDING ANY INCONSISTENT PROVISION OF LAW, EACH CONTRACT, AGREEMENT OR UNDERSTANDING BY WHICH A PERSON, FIRM, PARTNERSHIP, COMPANY, ASSOCIATION OR CORPO- RATION RECEIVES AN AWARD, GRANT, LOAN, TAX ABATEMENT OR OTHER BUSINESS INCENTIVE FROM THE STATE, ANY OF ITS POLITICAL SUBDIVISIONS, OR ANY DEPARTMENT, BUREAU, BOARD, COMMISSION, AUTHORITY, OR ANY OTHER AGENCY OR INSTRUMENTALITY OF THE STATE OR ITS POLITICAL SUBDIVISIONS, OR ANY PUBLIC BENEFIT CORPORATION AS DEFINED IN SUBDIVISION FOUR OF SECTION SIXTY-SIX OF THE GENERAL CONSTRUCTION LAW, OR ANY MUNICIPAL CORPORATION AS DEFINED IN SUBDIVISION THREE OF SECTION THREE-A OF THE GENERAL MUNIC- IPAL LAW FOR THE PURPOSES OF JOB TRAINING, JOB CREATION OR RETENTION, OR THE DEVELOPMENT OF ITS OPERATION WITHIN THE STATE, SHALL CONTAIN THE FOLLOWING PROVISIONS: (A) A STATED PERIOD OF TIME WITHIN WHICH THE TERMS OF THE CONTRACT, AGREEMENT OR UNDERSTANDING ARE TO BE FULLY EXECUTED AND COMPLETED; (B) A STATED PURPOSE AND THE AMOUNT OF THE AWARD, GRANT OR OTHER BUSI- NESS INCENTIVE; (C) WHERE APPLICABLE, THE NUMBER OF PERSONS TO BE TRAINED PURSUANT TO THE TERMS OF THE CONTRACT, AGREEMENT OR UNDERSTANDING; (D) WHERE APPLICABLE, THE NUMBER OF JOBS TO BE CREATED OR RETAINED PURSUANT TO THE TERMS OF THE CONTRACT, AGREEMENT OR UNDERSTANDING; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00303-01-3 S. 7291 2
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