The governor's proposal would 1) prohibit state sales tax abatements unless a project is in a specific industry eligible for Excelsior tax credits (think «bureaucracy» and «hurts small business» here...), 2) require additional approvals by the relevant Regional
Economic Development Council (REDC) and Empire State Development (think «unnecessary oversight and delays» here...), and 3) shift the abatement of state sales tax to a refund that might be
issued sometime
down the
road (think «uncertainty» and «cashflow» here...).