S1893-2011 Actions

• Jan 4, 2012: REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
• Jan 14, 2011: REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS

S1893-2011 Memo

BILL NUMBER:S1893

TITLE OF BILL:
An act
to amend the economic development law, in relation to including
among the commissioner's duties a mandate to include in all
economic development subsidy agreements provisions allowing the
state to recover previously issued awards
from
fund recipients in the event of relocation outside the state

PURPOSE:

SUMMARY OF PROVISIONS:
Subdivision 19 of section 100 of the economic development law is
amended by adding a new paragraph (c) which would require any
business that receives economic assistance from the State and
subsequently relocates outside of New York State, to repay all such
assistance received for the five years prior to such relocation.
Repayment of any award to the state shall be made pursuant to the
timeframe specified in the award agreement.

JUSTIFICATION:
Provides for the recovery of economic development awards in cases
where the recipient relocates outside the state.

LEGISLATIVE HISTORY:
03/16/09 REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
01/06/10 REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS

FISCAL IMPLICATIONS:

EFFECTIVE DATE:
This act shall take effect immediately, and shall apply only to
economic development awards made after such date.

S1893-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                         1893
 2011-2012 Regular Sessions
 I N  SENATE
 January 14, 2011
 
 Introduced by Sens. OPPENHEIMER, DIAZ, KRUEGER, PARKER -- read twice and
 ordered  printed, and when printed to be committed to the Committee on
 Commerce, Economic Development and Small Business
 

AN ACT to amend the economic development law, in relation  to  including
 among  the  commissioner's duties a mandate to include in all economic
 development  subsidy  agreements  provisions  allowing  the  state  to
 recover  previously issued awards from fund recipients in the event of
 relocation outside the state
 THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section  1.  Subdivision 19 of section 100 of the economic development
 law is amended by adding a new paragraph (c) to read as follows:

 (C) TO CAUSE TO BE INCLUDED IN ANY CONTRACT, AWARD AGREEMENT, MEMORAN
 DUM OF UNDERSTANDING, LOAN AGREEMENT OR OTHER SUCH DEVICE USED TO TRANS
 FER MONEY OF THE STATE TO A RECIPIENT THROUGH  AN  ECONOMIC  DEVELOPMENT
 PROGRAM  OF THE STATE PROVISIONS REQUIRING THE REPAYMENT TO THE STATE BY
 A FUND RECIPIENT OF ANY AWARD IN THE EVENT THAT SUCH RECIPIENT RELOCATES
 OUTSIDE THE STATE WITHIN FIVE YEARS FROM  THE  DATE  OF  RECEIVING  SUCH
 AWARD. REPAYMENT OF ANY AWARD TO THE STATE SHALL BE MADE PURSUANT TO THE
 TIME FRAME SPECIFIED IN THE AWARD AGREEMENT.
 

S  2.  This act shall take effect immediately, but shall apply only to
 economic development awards made after such date.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06218-01-1

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