Ryan, Rivera urge action to close 'IDA retail ban loophole'; IDA calls allegations 'outrageous characterization of New York state law'
Metro Creative Graphics Mon, Jan 30th 2023 08:50 am Ryan: Niagara County IDA projects highlight need to reform IDA retail ban √ State legislators a...
Metro Creative Graphics Mon, Jan 30th 2023 08:50 am Ryan: Niagara County IDA projects highlight need to reform IDA retail ban √ State legislators aim to change laws they say give industrial development agencies broad discretion over tax exemptions On Friday, New York State Sen. Sean Ryan and Assembly member Jon Rivera urged action to close what they call a 'loophole that is being exploited by the Niagara County Industrial Development Agency to subsidize fast food restaurants.' Ryan's team said, 'The legislators want to reform laws that give IDAs broad discretion to waive taxes for select businesses, often resulting in wasteful subsidies for projects that do not provide adequate benefits to the region.