Restricts new development agencies in Erie County and limits tax exemptions for town agencies.
The bill amends the general municipal law to prohibit the formation of new industrial development agencies in Erie County. It also limits the authority of existing town industrial development agencies within Erie County to exempt certain taxes. Specifically, it prevents new agencies from being formed and restricts the ability of town agencies to exempt from sales and compensating use taxes, mortgage recording taxes, and real property taxes.
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