A bill that would greatly expand the potential for tax increment financing in New York has been stripped down to its bare essentials by the Assembly in committee after having passed the Senate. While the amended Assembly bill preserves the core of the measure namely allowing school districts to participate in TIF deals it removes provisions that supporters say were important.

"This gives us 60% of what we were after and it is considerably better than the status quo," said Kenneth Kamlet, director of legal affairs for the Newman Development Group, a Binghamton-based company that develops shopping centers. "We would at least like to see the 60% bill pass this year and then work in the future as much as we can to get the other elements in the bill."

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