Jun 9
2023
Tax subsidy reforms stall in Albany
New York state lawmakers were poised to end the 2023 legislative session Friday with no action on a pair of bills that would have drastically reformed the state’s 107 industrial development agencies. Industrial development agencies, or IDAs, are public benefit corporations that have the power to grant property, sales and mortgage tax breaks to corporations who apply for those benefits, often in exchange for creating new jobs. The eight counties of Western New York have 15 IDAs at both the county and municipal levels. One bill, sponsored by Senator Sean Ryan, a Buffalo Democrat, would have barred IDAs from granting[...]