ALBANY – The State Senate approved a IDA Reform Legislation on Thursday to reform industrial development agencies across the state. Lawmakers say the bills will increase accountability and transparency in the IDA process, prevent intra-state piracy, eliminate conflicts of interest, require notice of IDA projects, prohibit certain persons from receiving compensation, allow the public to access and inspect information, and support the preservation of regionally significant projects.
In March of 2019, Senator James Skoufis, (D, Cornwall) chairman of the Senate Committee on Investigations and Government Operations, opened an investigation into the compliance and practices of public authorities, including industrial development agencies, across the state. The committee issued information and document requests to 143 public authorities including state authorities, local authorities, industrial development agencies, and local development corporations.
In 2019, the Senate Democratic Majority passed legislation that was signed into law to require all IDAs to live stream and post video recordings of all open meetings and public hearings. Thursday’s legislation continues in response to those findings to improve accountability and transparency for New York taxpayers.
“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. 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,” said Skoufis. New Yorkers deserve better and I am proud to carry the ball forward with my colleagues through this critical slate of legislation.”
