Enacts the "North Star Initiative"

6 Co-sponsors

• James Bacalles
• William A. Barclay
• Janet Duprey
• Joseph Giglio
• Bill Reilich
• Tony Jordan

11 Multi-sponsors

• Daniel Burling
• Nancy Calhoun
• Clifford Crouch
• Stephen Hawley
• Brian Kolb
• Marcus Molinaro
• Robert Oaks
• Thomas F. O'Mara
• Teresa Sayward
• Dierdre Scozzafava
• David Townsend

BILL NUMBER:A10493

Title of bill

An act to amend the economic development law, in relation to enacting the "North Star Initiative"

Purpose or general idea of bill

Enacts the "North Star Initiative"

Summary of specific provisions

Section 1. This act shall be known and may be cited as the "North Star Initiative".

Section 350. Facilities closure process.

351. The north star initiative commission.

Section 350. Facilities closure process. Notwithstanding any provision of law to the contrary, no state-owned and state-run facility that is scheduled to be closed shall close within two years of the date of the notification of closure. Upon notification, the proposed closed shall be referred to the north star initiative commission established section three hundred fifty-one of this article.

Section 351. The north star initiative commission. 1. A state commis- sion, to be known as the north star initiative commission, hereinafter referred to as the commission, is hereby created to examine, evaluate and determine the appropriate handling of the closing of state owned and run facilities and to develop a plan to mitigate the economic impact of the closure.

Section 3. Section 100 of the economic development law is amended by adding a new subdivision 40 to read as follows:

48. to develop, in conjunction with the commissioner of the department of taxation and finance, a proposal to be submitted to the governor and the legislature, and recommendations for legislation regarding the implementation of various tax incentives and tax exemptions for capital gains for investment in vacant facilities closed in accordance with the provisions of article seventeen of this chapter.

Justification

This legislation, better known as "The North Star Initiative" is being introduced as a reasonable, two-year reuse plan to be implemented at the time of an entity closure notification. "The North Star Initiative" would establish a temporary board which would oversee the closures and address the economic and quality of life needs of the affected communi- ty, including a component for replacing lost revenue that significantly impacts the community, and as viable reuse of the building itself.

"The North Star Initiative" would tailor a viable reuse plan to an affected local community's specific needs to make up for the devastating impact of facility closures on local economies.

Prior legislative history

New Bill.

Fiscal implications

To be determined.

Effective date

This act shall take effect on the one hundred twentieth day after it shall have become a law; provided, however, that effective immediately, the addition, amendment and/or repeal of any rule or regulation neces- sary for the implementation of this act on its effective date are authorized and directed to be made and completed on or before such date.