Authorizes recoupment of financial incentives from businesses that fail to meet job creation or retention goals.
New York S00220 amends the executive law to allow the state or political subdivisions to recoup financial incentives from businesses that do not fulfill job creation or retention commitments. The bill specifies that if a business fails to create or retain the promised number of jobs, it must refund the amount corresponding to the unfulfilled jobs. Similarly, if a business fails to develop promised facilities or operations, it must refund a proportion of the incentive.
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