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Bills target alleged abuses by IDAs

State lawmakers announce proposed legislation to close loopholes used to grant tax breaks to retail projects in distressed areas.

BUFFALO, N.Y. — State lawmakers plan to introduce legislation this spring that would close a loophole that allows industrial development agencies to grant tax breaks to restaurants and other retail businesses — thanks in part to what they perceive as abuses in Niagara County.

The state banned tax breaks for retail projects, including restaurants, a decade ago. But they left exceptions for tourism projects and retail establishments in so-called “distressed areas” with high poverty and high unemployment.

The new proposed legislation is sponsored by Sen. Sean Ryan, the newly-appointed chairman of the Commerce, Economic Development, and Small Business Committee, and Assemblyman Jonathan Rivera.

You can read the full story on Investigative Post's website.

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