Assembly Bill A650

2025-2026 Legislative Session

Relates to preventing the use of funds, financial incentives, subsidies or tax exemptions for projects in development

download bill text pdf

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Current Bill Status - In Assembly 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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2025-A650 (ACTIVE) - Details

Current Committee:
Assembly Local Governments
Law Section:
General Municipal Law
Laws Affected:
Amd §§854, 862 & 874, Gen Muni L
Versions Introduced in Other Legislative Sessions:
2019-2020: A7342
2021-2022: A3519
2023-2024: A2560

2025-A650 (ACTIVE) - Summary

Prevents the use of funds, financial incentives, subsidies or tax exemptions for projects already in development.

2025-A650 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    650
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 8, 2025
                                ___________
 
 Introduced  by  M.  of  A. KIM, FORREST -- read once and referred to the
   Committee on Local Governments
 
 AN ACT to amend the general municipal law, in relation to preventing the
   use of funds, financial incentives, subsidies or  tax  exemptions  for
   projects already in development

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 854 of the general  municipal  law  is  amended  by
 adding a new subdivision 22 to read as follows:
   (22)  "IN  DEVELOPMENT"  -  SHALL  MEAN  A  PROJECT  FOR  WHICH ACTIVE
 CONSTRUCTION, INCLUDING BUT NOT LIMITED TO  SITE  CLEARING,  EXCAVATION,
 ERECTION OF BUILDING FOUNDATIONS OR STRUCTURE, HAS ALREADY COMMENCED.
   §  2.  Section 862 of the general municipal law is amended by adding a
 new subdivision 3 to read as follows:
   (3) EXCEPT WHERE ENVIRONMENTAL CONTAMINATION REQUIRING  A  SIGNIFICANT
 INCREASE  IN  PROJECT  COSTS IS DISCOVERED DURING THE DEVELOPMENT OF THE
 PROJECT, NO FUNDS, FINANCIAL INCENTIVES OR SUBSIDIES OF THE AGENCY SHALL
 BE USED IN RESPECT OF ANY PROJECT WHICH IS ALREADY IN DEVELOPMENT AT THE
 TIME SUCH PROJECT APPLIES FOR SUCH FUNDS, FINANCIAL  ASSISTANCE,  INCEN-
 TIVES OR SUBSIDIES.
   §  3.  Section 874 of the general municipal law is amended by adding a
 new subdivision 13 to read as follows:
   (13) EXCEPT WHERE ENVIRONMENTAL CONTAMINATION REQUIRING A  SIGNIFICANT
 INCREASE  IN  PROJECT  COSTS IS DISCOVERED DURING THE DEVELOPMENT OF THE
 PROJECT, NO TAX EXEMPTIONS SHALL  BE  GRANTED  TO  ANY  PROJECT  IF  THE
 PROJECT  IS  ALREADY IN DEVELOPMENT AT THE TIME SUCH PROJECT APPLIES FOR
 THE ISSUANCE OF THE TAX EXEMPTION.
   § 4. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00231-01-5

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