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History
- Referred to local government
- Referred to local government
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Sponsor's memo
BILL NUMBER:S840
Title of bill
An act to amend the general municipal law, in relation to restricting the formation of new development agencies in Erie county
Purpose or general idea of the bill
This bill would allow only the Erie County Industrial Development Agency to exempt state and county taxes, without prior approval. Further, this bill would require any town Industrial Development Agencies within Erie County to seek approval if they wish to exempt any taxes other than the individual town's property taxes.
Summary of specific provisions
Section 1 amends section 891-a of the general municipal law by limiting the authority of town industrial development agencies located within Erie County to exempt certain taxes.
Section 2 amends section 898-a of the general municipal law stating section 891-a is controlling law in the event of any inconsistencies.
Section 3 amends section 901-a of the general municipal law stating section 891-a is controlling law in the event of any inconsistencies.
Section 4 amends section 914-a of the general municipal law stating section 891-a is controlling law in the event of any inconsistencies.
Section 5 amends section 925-t of the general municipal law stating section 891-a is controlling law in the event of any inconsistencies.
Section 6 amends section 925-v of the general municipal law stating section 891-a is controlling law in the event of any inconsistencies,
Justification
Currently, Erie County has 5 town IDAs (Amherst, Clarence, Concord, Hamburg, and Lancaster) in addition to the Erie County IDA. The ECIDA has power and authority to act on a county wide basis while the town IDAs can only act on projects within the boundaries of their town. This leads to competition between the town IDAs in attempting to lure businesses to their municipalities. The taxes generally waived by these town IDAs consist of-state and county taxes, as well as, the taxes of school districts and other municipalities. This results in the town IDAs competing to exempt taxes from the same general pool of tax revenue. The ECIDA is in a better position to oversee the tax exemptions granted to businesses and implement regional strategies for economic growth.
Prior legislative history
2012: A.10560 Referred to Rules
Fiscal implications
No fiscal implications to the state. State tax revenues should increase as the ECIDA will be the sole IDA which can exempt state taxes.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.