New York · 2025 Regular Session · Bill
A 248: Authorizes recoupment of financial incentives awarded businesses upon failure to fulfill the terms of such incentive
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
A 248 is a bill introduced in the New York House on January 8, 2025. According to its official title, it concerns: Authorizes recoupment of financial incentives awarded businesses upon failure to fulfill the terms of such incentive. Primary sponsor: Bill Magnarelli (Democratic). It lists 1 additional sponsor. Most recent recorded action (January 7, 2026): REFERRED TO GOVERNMENTAL OPERATIONS.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Authorizes recoupment by the state or any political subdivision of financial incentives such as awards, loans, grants or tax abatements, awarded businesses for purposes of job training, job creation or retention, or the development of business operations, upon recipient's failure to complete the terms of the incentive.
Sponsors
Sponsors by party (alphabetical): Democratic 2
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Bill Magnarelli | Primary sponsor | Democratic | House | 129 |
| Chris Eachus | Co-sponsor | Democratic | House | 99 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- REFERRED TO GOVERNMENTAL OPERATIONS
- REFERRED TO GOVERNMENTAL OPERATIONS