Relates to the powers of the New York state industrial development agency

This bill amends New York's Industrial Development Agency (IDA) powers to expand its financial tools. It adds new authority for the IDA to provide loans (subdivision 16), grants (subdivision 17), and seed/early-stage equity funding (subdivision 18) to private or public entities. The equity provision specifically allows funding for qualifying startups or developing companies located in, or planning to locate in, a municipality served by the IDA, with a requirement that funds be returned if the company leaves that municipality within a timeframe set by the IDA. These changes directly affect the IDA, local municipalities, and businesses seeking economic development support within New York state.