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Legislation pending to rein in IDAs

Mar 05, 2019 6:30 am
Lauren Stanforth is reporting for the Times Union legislation is being introduced in Albany to curb public tax-break incentives and create greater oversight of local industrial development agencies. Proposals by Democrat state senators James Skoufis and Shelley Mayer include banning IDAs from giving incentives to projects already under construction or where the developer is not identified. The legislation would also require school districts to be involved in payment-in-lieu-of-taxes agreements, and close a loophole that allows an IDA to lure a project from another local IDA. "These bills will inject some much-needed oversight and accountability into a process that currently resembles the Wild West," Skoufis said. The bills also call for a member from organized labor to serve on IDA boards, and propose that elected officials not be allowed to serve on IDA boards. Read the full story in the Times Union.