WHAT
On Monday, May 20, the Public Subsidy Board hosted a public hearing on calculating tax savings and other funds. The Public Subsidy Board’s priority is to carry out its duties under Labor Law Section 224-c and ensure that covered projects understand and meet the requirements of Labor Law Section 224-a.
WHEN and WHERE
WHEN: Monday, May 20, 2024
TIME: 9:00 A.M. – 5:00 P.M.
WHERE: Clark Auditorium, New York State Museum, 222 Madison Ave., Albany, NY 12230
The meeting was open to the public in person or via Zoom.
Please note, pursuant to the Board’s policies and procedures, and due to an extraordinary circumstance, one Board Member participated in the hearing virtually.
AGENDA & MINUTES
The hearing had two sessions:
Session 1
9:00 A.M. to 12:30 P.M.
Topic: Calculating Tax Savings. The Board heard testimony to determine whether prospective, future tax savings on publicly subsidized projects should be included in total tax savings when calculating whether a project is covered by Labor Law § 224-a.
Session 2
1:30 P.M. to 5:00 P.M.
Topic: Calculating Other Funds. The Board heard testimony to determine how to consider and calculate federal funds administered by public entities as defined by Labor Law § 224-a.
TESTIMONY
The Public Subsidy Board held a public hearing on May 20, 2024. Both written and oral testimony on the subject topics were provided to the Board by both invited experts and members of the public.
You can view a full recording of the public hearing, including testimony provided by invited experts and members of the public.
Additionally, you can view all written submission and comments that were provided to the Board.