* § 8. Local authorities searchable subsidy and economic development
benefits database. 1. For the purposes of this section, the following
terms shall have the following meanings:

(a) "Economic development benefits" shall mean:

(i) funds made available by a local development corporation for
economic development, or job creation purposes including, but not
limited to, grants, loans, and bonds; and

(ii) bonds and tax exemptions which are applied for and preapproved or
certified by or on behalf of an industrial development agency for
economic development.

(b) "Qualified participant" shall mean a project operator pursuant to
section eight hundred seventy-four of the general municipal law with a
project pursuant to section eight hundred fifty-four of the general
municipal law.

(c) "Full-time equivalent" shall mean a unit of measure, which is
equal to one filled, full-time, annual-salaried position in a manner
consistent with federal calculations.

(d) "The office" shall mean the authorities budget office.

(e) "The database" or "the searchable database" shall mean the
database created pursuant to subdivision two of this section.

(f) "The project" shall mean specific work, action, endeavor, contract
or agreement for which any economic benefit as defined in paragraph (a)
of this subdivision, is made available or awarded by a local development
corporation or industrial development agency to a person, business,
limited liability corporation or any other entity.

2. Notwithstanding any laws to the contrary, the office shall create a
searchable database, displaying data regarding economic development
benefits that a qualified participant has been awarded. Such searchable
database shall include the following data, features and functionality to
the extent practicable:

(a) the ability to search the database by each of the reported
information fields;

(b) the ability to be searchable, downloadable, and posted on a
publicly accessible website as well as referenced on the office's
website, with a direct link to the database;

(c) the ability to digitally select defined individual fields
corresponding to any of the reported information from qualified
participants to create unique database views;

(d) the ability to download the database in its entirety, or in part,
in a common machine readable format;

(e) a definition or description of terms for fields in the database;

(f) a summary of each separate economic development benefit defined in
paragraph (a) of subdivision one of this section awarded to qualified
participants;

(g) a user-friendly guide to outline the features and functionality of
the database;

(h) a dedicated email account for the public to direct questions
related to the database, and the office mailing address, office
telephone number, and name of the chief officer;

(i) the following data on local development corporations shall be
included:

(i) relating to grants, the source of funds for the grant, the name
and address of the entity that received the grant, the date and amount
awarded, how the grant funds will be used, whether the grant proceeds
were expected to result in new jobs being created, and if so, how many
jobs were planned to be created and how many jobs have been created to
date;

(ii) relating to loans, the source of funds for the loan, the name and
address of the entity that received the loan, the date and amount
awarded, the loan interest rate, the length of the loan in years, the
amount repaid to date, how the loan funds will be used, and whether the
loan was provided to the recipient for the purpose of creating jobs, and
if so, how many jobs were planned to be created and how many jobs have
been created to date; and

(iii) relating to bonds, the name and address of the recipient of the
bond proceeds, the amount and date of the bond issuance, the bond
interest rate, the year the bonds are expected to be fully retired, the
amount of bond principal retired during the reporting period, how the
bond proceeds are used, whether the bond proceeds were provided to the
recipient to create jobs, and if so, how many jobs were planned to be
created and how many jobs have been created to date; and

(j) the following data on industrial development agency projects shall
be included:

(i) project name, project type, project location, and the project's
complete address, including the postal code in a separate and searchable
field;

(ii) whether the project is part of another phase or multi phase, the
category of the project purpose, the total project amount, the benefited
project amount, if the project type was a bond, the bond amount, if the
project type was a lease, the lease amount, whether the qualified
recipient is a not-for-profit, the date the project was approved,
whether the industrial development agency took title to a property, and
if so, the date that title was taken, and the year financial assistance
is planned to end;

(iii) the qualified participant's name and the qualified participant's
complete address, including the postal code in a separate and searchable
field;

(iv) the amount of project tax exemptions granted, including for state
sales tax, local sales tax, county real property tax, local property
tax, school property tax, mortgage recording tax, the total exemptions,
and the total exemptions net of real property tax law section four
hundred eighty-five-b;

(v) the amount of payments in lieu of taxes agreed upon and actually
made to the county, local municipality, or school district, the total
amount of payments in lieu of taxes agreed upon and actually made, and
the net exemptions once the payments in lieu of taxes are subtracted
from the total project tax exemptions; and

(vi) the total number of employees for the project prior to industrial
development agency status, estimate of jobs to be created, average
estimated annual salary of jobs to be created, annualized salary range
of jobs to be created, original estimate of jobs to be retained,
estimated average annual salary of jobs to be retained, current number
of full-time equivalents, number of full-time equivalent construction
jobs during the reporting fiscal year, and the net employment change.

3. The office shall submit a quarterly report to the governor,
temporary president of the senate, and speaker of the assembly outlining
key usage statistics of the database created pursuant to subdivision two
of this section including, but not limited to, the total number of
unique users that quarter.

* NB Effective July 19, 2024