State Senate Passes Bills Aimed At Economic Development Aid
ALBANY, N.Y. (AP) — The Republican-led New York Senate has approved a package of legislation aimed at Democratic Gov. Andrew Cuomo's economic development policies.
The legislation approved Wednesday seeks to require more transparency and accountability for programs that amount to billions of dollars a year in tax breaks, business grants and loans.
One measure would require the state to create a searchable database of all state subsidies and economic development benefits. Critics say the current system doesn't allow for clear comparisons of the various state programs involved in economic development projects.
The corporate subsidies have come under fire from lawmakers and government watchdog groups over how the funds are distributed, how many jobs are created and whether taxpayers are getting a good return on their investments.
The bills have been sent to the Democrat-controlled Assembly.