S 177: Repeals provisions related to requiring projects be located in a highly distressed area in order to qualify for certain financial assistance from an industrial development agency.

  
  STATE OF NEW YORK ________________________________________________________________________ 177 2025-2026 Regular Sessions  IN SENATE (Prefiled) January 8, 2025 ___________ Introduced by Sen. RYAN S -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the general municipal law, in relation to financial assistance from an industrial development agency; and to repeal certain provisions of such law relating thereto The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 18 of section 854 of the general municipal law 2 is REPEALED. 3 § 2. Paragraph (b) of subdivision 2 of section 862 of the general 4 municipal law, as added by section 1 of part J of chapter 59 of the laws 5 of 2013, is amended to read as follows: 6 (b) Notwithstanding the provisions of paragraph (a) of this subdivi- 7 sion, financial assistance may, however, be provided to a project where 8 facilities or property that are primarily used in making retail sales of 9 goods or services to customers who personally visit such facilities to 10 obtain such goods or services constitute more than one-third of the 11 total project cost, where[: (i)] the predominant purpose of the project 12 would be to make available goods or services which would not, but for 13 the project, be reasonably accessible to the residents of the city, 14 town, or village within which the proposed project would be located 15 because of a lack of reasonably accessible retail trade facilities 16 offering such goods or services[; or (ii) the project is located in a 17 highly distressed area]. 18 § 3. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00441-01-5