NY State Senate Bill 2025-S5563

Senate Bill S5563

2025-2026 Legislative Session

Allows for the examination of industrial development agencies and not-for-profit corporations by county comptrollers

download bill text pdf

Current Bill Status - In Senate Committee Corporations, Authorities And Commissions 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

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Feb 25, 2025	referred to corporations, authorities and commissions

2025-S5563 (ACTIVE) - Details

Current Committee:: Senate Corporations, Authorities And Commissions
Law Section:: General Municipal Law
Laws Affected:: Add §34-b, Gen Muni L
Versions Introduced in Other Legislative Sessions:: 2019-2020: S8701
2021-2022: S235
2023-2024: S2297

2025-S5563 (ACTIVE) - Summary

Allows for the examination of projects and/or actions by industrial development agencies and not-for-profit corporations by county comptrollers.

2025-S5563 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S5563

SPONSOR: MAYER
 
TITLE OF BILL:

An act to amend the general municipal law, in relation to allowing for
the examination of industrial development agencies and not-for-profit
corporations by county comptrollers

 
PURPOSE:

To allow for independent examination and audit of industrial development
agencies and not-for-profit corporations on the local county level.

 
SUMMARY OF PROVISIONS:

Section 1 adds a new section to the public authorities law permitting
the county comptroller or local equivalent to examine and audit the
projects and actions of industrial development agencies operating within
a county as well as local not-for-profit corporations.

Section 2 sets the effective date.

 
JUSTIFICATION:

New York state law authorizes industrial development agencies (IDAs) to
grant incentives, including tax abatements and payments in lieu of taxes
(PILOTs), to businesses and projects to promote job growth and the
vitality of our local economies. The actions taken by IDAs, including
granting PILOTs and tax abatements, and the terms of those incentives,
have substantial impacts on community members, workers, and taxpayers,
yet many of these actions are veiled from those that are affected.

This bill would add an additional level of accountability by allowing
local audits and examinations of IDA projects and actions by the county
comptroller or local equivalent. Additionally, this bill authorizes the
examination of local not-for-profit corporations such as local develop-
ment corporations. These measures will enhance public confidence in
institutions designed to help people on a local level by ensuring that
the concerns of the public may be brought to the attention of those
entities most closely attuned to local concerns.

 
LEGISLATIVE HISTORY:

2019-2020: S8701, referred to Rules

2021-2022: S235A, passed Senate; referred to Local Governments in Assem-
bly

2023-2024: S2297, passed Senate, referred to Local Governments in Assem-
bly

 
FISCAL IMPLICATIONS:

None

 
EFFECTIVE DATE:
This act shall take effect on the ninetieth day after it shall become
law.

2025-S5563 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5563
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 25, 2025
                                ___________
 
 Introduced  by  Sen.  MAYER  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 AN  ACT  to amend the general municipal law, in relation to allowing for
   the examination of industrial development agencies and  not-for-profit
   corporations by county comptrollers

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general municipal  law  is  amended  by  adding  a  new
 section 34-b to read as follows:
   §  34-B.  EXAMINATION  OF INDUSTRIAL DEVELOPMENT AGENCIES AND NOT-FOR-
 PROFIT CORPORATIONS BY COUNTY COMPTROLLERS. 1. EXAMINATION OF INDUSTRIAL
 DEVELOPMENT AGENCY PROJECTS AND ACTIONS BY COUNTY  COMPTROLLERS.  (A)  A
 COUNTY COMPTROLLER MAY CONDUCT AN AUDIT OF A PROJECT AND/OR ACTION OF AN
 INDUSTRIAL DEVELOPMENT AGENCY LOCATED WITHIN THE COUNTY.
   (B)  IN  COUNTIES  WHERE  THERE  IS  NO  COUNTY COMPTROLLER, THE CHIEF
 ELECTED OFFICIAL OF THE COUNTY SHALL DESIGNATE THE  BUDGET  DIRECTOR  OR
 FINANCE DIRECTOR TO UNDERTAKE SUCH AUDITS.
   (C)  FOR  PURPOSES  OF  THIS  SECTION, INDUSTRIAL DEVELOPMENT AGENCIES
 INCLUDE SUCH PUBLIC AUTHORITIES DEFINED IN PARAGRAPH (C) OF  SUBDIVISION
 TWO OF SECTION TWO OF THE PUBLIC AUTHORITIES LAW.
   2.  EXAMINATION OF NOT-FOR-PROFIT CORPORATIONS BY COUNTY COMPTROLLERS.
 (A) A COUNTY COMPTROLLER MAY CONDUCT AN AUDIT OF A NOT-FOR-PROFIT CORPO-
 RATION AFFILIATED WITH, SPONSORED BY, OR CREATED BY A COUNTY, CITY, TOWN
 OR VILLAGE GOVERNMENT, LOCATED WITHIN THE COUNTY.
   (B) IN COUNTIES WHERE  THERE  IS  NO  COUNTY  COMPTROLLER,  THE  CHIEF
 ELECTED  OFFICIAL  OF  THE COUNTY SHALL DESIGNATE THE BUDGET DIRECTOR OR
 FINANCE DIRECTOR TO UNDERTAKE SUCH AUDITS.
   (C) FOR PURPOSES OF THIS SECTION, NOT-FOR-PROFIT CORPORATIONS  INCLUDE
 SUCH  PUBLIC  AUTHORITIES DEFINED IN PARAGRAPH (B) OF SUBDIVISION TWO OF
 SECTION TWO OF THE PUBLIC AUTHORITIES LAW.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD01384-01-5

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