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Legislative Memo

Ken Pokalsky
Vice President
T 518.465.7511, ext. 205
www.bcnys.org

BILL:

A.8175 (Schimminger)

Support

SUBJECT:

Economic Development Benefits Reporting

 

DATE:

June 6, 2017

 

The Business Council appreciates the Legislature’s interest in assuring increased public information on economic development programs.

However, we oppose this legislation because of its broad, vague applicability and data disclosure provisions.

We believe any legislation imposing expanded reporting mandates on economic development program participants, and increased public disclosures of such data, should name the specific programs it applies to, and assure than any reporting mandate be based on a clear nexus between the nature of the economic development benefit provided and the performance data being demanded by the state.  Moreover, programs that already have specifically defined eligibility criteria or participant reporting requirements should be exempt from any new reporting/disclosure mandates.

Specific concerns regarding A.8175 include the following:

In short, the bill’s vague and inconsistent provisions make the true scope of this new mandate difficult to identify.   Our concern is that it would apply not only to discretionary capital programs administered through the UDC (as authorized by the legislative), but to a wide range of tax credits and other programs that already have fixed statutory criteria for eligibility and calculation of benefits.

As such, we urge the Assembly to reject this legislation.