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Enhancing Economic Development Tools

Brownfields Reform

Goal: PASSAGE OF TAX INCREMENT FINANCING (tif) LEGISLATION TO ALLOW TIF TO BE USED TO PROMOTE BROWNFIELD REDEVELOPMENT
Background Tax increment financing (TIF) legislation, which would allow tax increment financing to be used to promote brownfield remediation and redevelopment, is an economic development tool used in a number of other states. It has been a Partnership and Unshackle Upstate priority for the past two years, and is a high-impact, no-cost-to-taxpayers initiative with tremendous upside to Upstate New York.
Recent Action The Partnership and Unshackle Upstate continue to lobby in Albany in support of TIF legislation. There is a disconnect between Assemblymen Schimminger and Hoyt and the Assembly’s Ways and Means Committee on which parameters are acceptable to move the legislation forward.
Recent Progress

Upon the Senate's return from the June/July '09 "coup," Senator Bill Stachowski's TIF legislation (S.1716-A) was amended to match the accompanying Assembly bill - A.2378-A (Schimminger). Coordination between the two houses has been a key milestone on the road to the bill's passage.
Next Steps

With the state legislature session closed for 2009, advocacy efforts are focused on mediating the impasse in the Assembly in preparation for passage of TIF legislation in 2010.