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Legislature approves IDA reforms

Jun 05, 2021 12:07 am

The Mid-Hudson News Network reports in the Daily Freeman the state legislature has approved 11 bills to reform oversight of industrial development agencies in New York. Proponents say the legislation increases accountability and transparency among IDAs, prevents intrastate piracy, eliminates conflicts of interest, requires notice of IDA-backed projects, prohibits certain persons from receiving compensation, allows the public to access and inspect IDA information, and supports the preservation of regionally significant projects. “We’ve seen time and again, especially here in the Hudson Valley, how a ‘friendly’ culture of everyday corruption and backroom dealing by local IDAs can undermine real, transformative economic development," State Senator James Skoufis said in a statement. "For many public authorities and development corporations around the state, ethical leadership just isn’t happening, and we must send a strong signal to them that a culture of kickbacks, abuse of the public’s tax dollars and trust, and intrastate double-dealing will not be tolerated." Read more about this story in the Daily Freeman.