S10270 • 2025

Relates to financial assistance from an industrial development agency; repealer

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Sponsor: James Skoufis
Last action: 2026-05-11
Official status: In Senate Committee
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Relates to financial assistance from an industrial development agency; repealer

Relates to financial assistance from an industrial development agency; repealer Repeals provisions related to requiring projects be located in a highly distressed area in order to qualify for certain financial assistance from an industrial development agency.

What This Bill Does

Relates to financial assistance from an industrial development agency; repealer Repeals provisions related to requiring projects be located in a highly distressed area in order to qualify for certain financial assistance from an industrial development agency.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-05-11 Senate
REFERRED TO LOCAL GOVERNMENT

Official Summary Text

Relates to financial assistance from an industrial development agency; repealer
Repeals provisions related to requiring projects be located in a highly distressed area in order to qualify for certain financial assistance from an industrial development agency.

Current Bill Text

Read the full stored bill text

S T A T E   O F   N E W   Y O R K
        ________________________________________________________________________

                                          10270

                                    I N  S E N A T E

                                      May 11, 2026
                                       ___________

        Introduced  by  Sen. SKOUFIS -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government

        AN ACT to amend the general municipal  law,  in  relation  to  financial
          assistance  from  an  industrial  development  agency;  and  to repeal
          certain provisions of such law relating thereto

          THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section  1. Subdivision 18 of section 854 of the general municipal law
     2  is REPEALED.
     3    § 2. Paragraph (b) of subdivision 2 of  section  862  of  the  general
     4  municipal law, as added by section 1 of part J of chapter 59 of the laws
     5  of 2013, is amended to read as follows:
     6    (b)  Notwithstanding  the provisions of paragraph (a) of this subdivi-
     7  sion, financial assistance may, however, be provided to a project  where
     8  facilities or property that are primarily used in making retail sales of
     9  goods  or  services to customers who personally visit such facilities to
    10  obtain such goods or services constitute  more  than  one-third  of  the
    11  total  project cost, where[: (i)] the predominant purpose of the project
    12  would be to make available goods or services which would  not,  but  for
    13  the  project,  be  reasonably  accessible  to the residents of the city,
    14  town, or village within which the  proposed  project  would  be  located
    15  because  of  a  lack  of  reasonably  accessible retail trade facilities
    16  offering such goods or services[; or (ii) the project is  located  in  a
    17  highly distressed area].
    18    § 3. This act shall take effect immediately.




         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00441-01-5