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.