New York A01056 repeals requirements for projects to be in highly distressed areas to qualify for industrial development agency financial assistance.

New York A01056 repeals provisions that required projects to be located in highly distressed areas to qualify for certain financial assistance from an industrial development agency. The bill removes the necessity for projects to be in such areas, allowing financial assistance for projects where retail facilities constitute more than one-third of the total project cost and aim to provide goods or services not reasonably accessible to local residents. The changes take effect immediately.

New York A01056 repeals requirements for projects to be in highly distressed areas to qualify for industrial development agency financial assistance.

New York A01056 repeals provisions that required projects to be located in highly distressed areas to qualify for certain financial assistance from an industrial development agency. The bill removes the necessity for projects to be in such areas, allowing financial assistance for projects where retail facilities constitute more than one-third of the total project cost and aim to provide goods or services not reasonably accessible to local residents. The changes take effect immediately.