ALBANY – A New York State economic development policy in which public money is indirectly funneled to private business interests survived a constitutional challenge yesterday as a divided Court of Appeals rebuffed some 50 taxpayers and upheld the controversial practice.
The Court, in Bordeleau v. State, 190, revisited an issue that has repeatedly emerged during constitutional conventions and found that grants to trade organizations and public benefit corporations to spur economic development do not violate the ban on giving or loaning money to private enterprises.
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