Repeals provisions of law establishing the town of Champlain industrial development agency, and transfers the assets, liabilities and obligations thereof to the town of Champlain.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A7523
SPONSOR: Duprey TITLE OF BILL: An act to provide for the transfer of all rights,
titles, interests, obligations, liabilities and records of the town of
Champlain industrial development agency to the town of Champlain, in the
county of Clinton; and to repeal section 926-p of the general municipal
law relating to the town of Champlain industrial development agency
PURPOSE:
Repeals provisions of law establishing the town of Champlain industrial
development agency, and transfers the assets, liabilities and obli-
gations thereof to the town of Champlain
SUMMARY OF PROVISIONS:
Section 1 repeals section 926-p of the general municipal law.
Section 2 transfers all the assets, liabilities and obligations of the
town of Champlain Industrial Development Agency to the town of Cham-
plain.
Section 3 contains the effective date
EXISTING LAW:
Section 926-p authorizes the establishment of the town of Champlain
Industrial Development Agency and the responsibilities there of.
JUSTIFICATION:
This bill repeals the statutory authorization for the Town of Champlain
Industrial Development Agency and dissolves the Agency thereof. The
TCIDA Board, in consultation with the Town of Champlain Board, has made
the decision to dissolve the Agency due to lack of activity and the
Town's inability to fund its continued operation. Moreover, this legis-
lation seeks to advance the State's efforts to reduce the number of
unnecessary or duplicative authorities. The County of Clinton IDA will
be able to provide assistance to eligible projects that may arise in the
Town. Any existing records, property, rights, titles, and interest will
be kept on file in the Champlain Town Hall.
LEGISLATIVE HISTORY:
New bill
FISCAL IMPLICATIONS:
None
LOCAL FISCAL IMPLICATIONS:
Will reduce the funds required by the town to operate the agency.
EFFECTIVE DATE:
This act shall take effect immediately.
