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S T A T E O F N E W Y O R K
________________________________________________________________________
11396
I N A S S E M B L Y
May 15, 2026
___________
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Williams) --
read once and referred to the Committee on Real Property Taxation
AN ACT to amend chapter 61 of the laws of 2011 amending the economic
development law, the tax law and the real property tax law relating to
establishing the economic transformation and facility redevelopment
program and providing tax benefits under that program; and to amend
the economic development law, in relation to extending the tax credits
under the economic transformation and facility redevelopment program
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Section 12 of part V of chapter 61 of the laws of 2011,
2 amending the economic development law, the tax law and the real property
3 tax law relating to establishing the economic transformation and facili-
4 ty redevelopment program and providing tax benefits under that program,
5 as amended by section 1 of part JJ of chapter 59 of the laws of 2021, is
6 amended to read as follows:
7 § 12. This act shall take effect immediately and shall expire and be
8 deemed repealed December 31, [2026] 2031.
9 § 2. Paragraph (a) of subdivision 11 of section 400 of the economic
10 development law, as amended by section 2 of part JJ of chapter 59 of the
11 laws of 2021, is amended to read as follows:
12 (a) a correctional facility, as defined in paragraph (a) of subdivi-
13 sion four of section two of the correction law, that has been selected
14 by the governor of the state of New York for closure after April first,
15 two thousand eleven but no later than March thirty-first, two thousand
16 [twenty-six] THIRTY-ONE; or
17 § 3. This act shall take effect immediately; provided, however, that
18 the amendments to section 400 of the economic development law made by
19 section two of this act shall not affect the repeal of such section and
20 shall be deemed repealed therewith.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15923-01-6