Assembly BillIntroduced
A 4892: Relates to the powers of the New York state industrial development agency.
What A 4892 does, verified September 9, 2025
The bill aims to amend the General Municipal Law to expand the powers of the New York State Industrial Development Agency. The agency will be able to provide loans, grants, and seed and early-stage equity funding to private corporations and legal entities in the state. These funds will be used to further the agency's corporate purposes and stimulate economic activity in New York State. The funds received by the beneficiary corporations or legal entities must be returned if they leave the municipality for which the agency was created within a specified period of time. The bill will take effect immediately.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: enacting clause stricken (2025-09-08)Alert me
Quick answers about A 4892
- What is the current status of A 4892?
- As of September 9, 2025, A 4892 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on September 8, 2025, was "enacting clause stricken".
- Did A 4892 pass?
- Not yet. A 4892 has been introduced and has not passed either house.
- Who wrote A 4892, and where is it now?
- A 4892 was authored by Asm. Billy Jones.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions2 total · showing 2
| Sep. 08, 2025 | enacting clause stricken |
| Feb. 10, 2025 | referred to local governments |
Latest bill textIntroduced version, February 10, 2025 · 374 words
STATE OF NEW YORK ________________________________________________________________________ 4892 2025-2026 Regular Sessions IN ASSEMBLY February 10, 2025 ___________ Introduced by M. of A. JONES -- read once and referred to the Committee on Local Governments AN ACT to amend the general municipal law, in relation to the powers of the New York state industrial development agency The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivisions 16 and 17 of section 858 of the general munic- 2 ipal law, as renumbered by chapter 356 of the laws of 1993, are renum- 3 bered subdivisions 19 and 20 and three new subdivisions 16, 17 and 18 4 are added to read as follows: 5 (16) To provide loans to any private or public corporation or any 6 legal entity provided said loan is memorialized in an appropriate loan 7 agreement and further provided that the loan proceeds are used in furth- 8 erance of the agency's corporate purposes; 9 (17) To provide grants to any private or public corporation or any 10 legal entity provided said grant is memorialized in an appropriate grant 11 agreement stipulating the services to be provided in furtherance of the 12 agency's corporate purposes; 13 (18) Notwithstanding any other law, to provide seed and early-stage 14 equity funding to any private corporation or any legal entity, in 15 accordance with a plan to be developed by the agency, located within, or 16 to be located within, the municipality for whose benefit the agency was 17 created and that is in the seed, early stage or venture stage of devel- 18 opment and that has the potential to generate additional economic activ- 19 ity in New York state provided, however, that funds received by the 20 beneficiary private corporation or legal entity shall be returned if the 21 beneficiary private corporation or legal entity leaves the municipality 22 for whose benefit the agency was created within a period of time to be 23 established by the agency; 24 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01162-01-5
Text of A 4892 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions