Senate Bill S1146

2023-2024 Legislative Session

Enacts the corporate accountability for tax expenditures act

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

2023-S1146 (ACTIVE) - Details

See Assembly Version of this Bill:
A2612
Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Business Corporation Law
Laws Affected:
Add Art 14 §§1401 - 1405, BC L; add Art 10-E §§3980 - 3984, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: S750
2011-2012: S446
2013-2014: S3449
2015-2016: S3109
2017-2018: S3364
2019-2020: S1923, A7741
2021-2022: S1038, A3609

2023-S1146 (ACTIVE) - Summary

Enacts the corporate accountability for tax expenditures act; standardizes applications for state development assistance for empire zone assistance and industrial development agency assistance; requires submission of certain development assistance agreements to the department of taxation and finance; requires recipients of certain development assistance to submit progress reports which include certain information and disclosures

2023-S1146 (ACTIVE) - Sponsor Memo

2023-S1146 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1146
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 10, 2023
                                ___________
 
 Introduced  by  Sens.  KRUEGER,  BAILEY,  LIU,  PARKER -- read twice and
   ordered printed, and when printed to be committed to the Committee  on
   Corporations, Authorities and Commissions
 
 AN  ACT to amend the business corporation law and the public authorities
   law, in relation to enacting the  "corporate  accountability  for  tax
   expenditures act"

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Short title.  This act shall be known and may be  cited  as
 the "corporate accountability for tax expenditures act".
   §  2.  The business corporation law is amended by adding a new article
 14 to read as follows:
                                 ARTICLE 14
               CORPORATE ACCOUNTABILITY FOR TAX EXPENDITURES
 SECTION 1401. DEFINITIONS.
         1402. UNIFIED ECONOMIC DEVELOPMENT BUDGET.
         1403. STANDARDIZED APPLICATIONS FOR  STATE  DEVELOPMENT  ASSIST-
                 ANCE.
         1404. STATE DEVELOPMENT ASSISTANCE DISCLOSURE.
         1405. RECAPTURE.
 § 1401. DEFINITIONS.
   AS USED IN THIS ARTICLE:
   (A) "BASE YEARS" MEANS THE FIRST TWO COMPLETE CALENDAR YEARS FOLLOWING
 THE EFFECTIVE DATE OF A RECIPIENT RECEIVING DEVELOPMENT ASSISTANCE.
   (B) "DATE OF ASSISTANCE" MEANS THE COMMENCEMENT DATE OF THE ASSISTANCE
 AGREEMENT,  WHICH DATE TRIGGERS THE PERIOD DURING WHICH THE RECIPIENT IS
 OBLIGATED TO CREATE OR  RETAIN  JOBS  AND  CONTINUE  OPERATIONS  AT  THE
 SPECIFIC PROJECT SITE.
   (C)  "DEFAULT"  MEANS  THAT  A  RECIPIENT  HAS  NOT  ACHIEVED  ITS JOB
 CREATION, JOB RETENTION, OR WAGE OR BENEFIT GOALS, AS APPLICABLE, DURING
 THE PRESCRIBED PERIOD THEREFOR.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03507-01-3
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.