Bill Text: NY A02854 | 2015-2016 | General Assembly | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

---

Bill Title: Provides for the definition of "environmental zones" for purposes of the brownfield redevelopment tax credit.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced - Dead) 2016-06-14 - held for consideration in ways and means [A02854 Detail]

Download: New_York-2015-A02854-Amended.html

---

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        2854--A
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 20, 2015
                                      ___________
       Introduced  by  M. of A. PEOPLES-STOKES -- read once and referred to the
         Committee on Ways and Means --  committee  discharged,  bill  amended,
         ordered reprinted as amended and recommitted to said committee
       AN ACT to amend the tax law, in relation to environmental zones
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph 6 of subsection (b) of section 21 of the tax law,
    2  as amended by section 1 of part H of chapter 577 of the  laws  of  2004,
    3  subparagraph  (B)  and  the closing paragraph as amended by section 1 of
    4  part G of chapter 62 of the laws of 2006, is amended to read as follows:
    5    (6) Environmental zones (EN-Zones). An "environmental zone" shall mean
    6  an area designated as such by the commissioner of economic  development.
    7  [Such]  WITH  RESPECT  TO ANY QUALIFIED SITE FOR WHICH THE DEPARTMENT OF
    8  ENVIRONMENTAL CONSERVATION HAS ISSUED A NOTICE TO  THE  TAXPAYER  ON  OR
    9  AFTER  JULY  FIRST,  TWO  THOUSAND  FIFTEEN THAT ITS REQUEST FOR PARTIC-
   10  IPATION HAS BEEN ACCEPTED UNDER SUBDIVISION SIX OF  SECTION  27-1407  OF
   11  THE  ENVIRONMENTAL  CONSERVATION LAW, SUCH areas so designated are areas
   12  which are census tracts and block numbering areas which, [as of the  two
   13  thousand  census]  AS  CALCULATED AS OF JANUARY FIRST OF EACH YEAR USING
   14  THE MOST RECENT FIVE YEAR ESTIMATE FROM THE  AMERICAN  COMMUNITY  SURVEY
   15  PUBLISHED  BY  THE  UNITES  STATES  CENSUS BUREAU, satisfy either of the
   16  following criteria:
   17    (A) areas that have both:
   18    (i) a poverty rate of at least twenty percent for the  year  to  which
   19  the data relate; and
   20    (ii)  an  unemployment  rate of at least one and one-quarter times the
   21  statewide unemployment rate for the year to which the data relate, or;
   22    (B) areas that have a poverty rate of at least two times  the  poverty
   23  rate for the county in which the areas are located for the year to which
   24  the  data  relate provided, however, that a qualified site shall only be
   25  deemed to be located in an environmental zone  under  this  subparagraph
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01718-03-5
       A. 2854--A                          2
    1  [(B)]  if  such site was the subject of a brownfield site cleanup agree-
    2  ment pursuant to section 27-1409 of the environmental  conservation  law
    3  that was entered into prior to September first, two thousand ten.
    4    (C)  WITH  RESPECT  TO  ANY QUALIFIED SITE FOR WHICH THE DEPARTMENT OF
    5  ENVIRONMENTAL CONSERVATION HAS ISSUED A NOTICE TO THE  TAXPAYER  BETWEEN
    6  JANUARY  FIRST,  TWO  THOUSAND  ELEVEN  AND JUNE THIRTIETH, TWO THOUSAND
    7  FIFTEEN THAT ITS REQUEST  FOR  PARTICIPATION  HAS  BEEN  ACCEPTED  UNDER
    8  SUBDIVISION  SIX  OF  SECTION  27-1407 OF THE ENVIRONMENTAL CONSERVATION
    9  LAW, ENVIRONMENTAL ZONES SHALL INCLUDE SUCH AREAS THAT MEET THE CRITERIA
   10  CONTAINED IN SUBPARAGRAPH (A) OF THIS  PARAGRAPH  AS  CALCULATED  AS  OF
   11  JANUARY  FIRST  OF  THE  YEAR  IN WHICH THE ACCEPTANCE NOTICE WAS ISSUED
   12  USING THE MOST RECENT FIVE YEAR ESTIMATE  FROM  THE  AMERICAN  COMMUNITY
   13  SURVEY PUBLISHED BY THE UNITES STATES CENSUS BUREAU.
   14    Such  designation  shall  be made and a list of all such environmental
   15  zones shall be established by the commissioner of  economic  development
   16  [no  later  than  December  thirty-first,  two thousand four] BEFORE THE
   17  LATER OF NINETY DAYS AFTER THE EFFECTIVE DATE OF THE CHAPTER OF THE LAWS
   18  OF TWO THOUSAND FIFTEEN THAT  AMENDED  THIS  PARAGRAPH  OR  NINETY  DAYS
   19  FOLLOWING THE OFFICIAL PUBLICATION OF THE MOST RECENT FIVE YEAR ESTIMATE
   20  FROM THE AMERICAN COMMUNITY SURVEY PUBLISHED BY THE UNITED STATES CENSUS
   21  BUREAU, provided, however, that a qualified site shall only be deemed to
   22  be located in an environmental zone under subparagraph (B) of this para-
   23  graph  if  such site was the subject of a brownfield site cleanup agree-
   24  ment pursuant to section 27-1409 of the environmental  conservation  law
   25  that was entered into prior to September first, two thousand ten.
   26    S  2.  This  act shall take effect July 1, 2015 and shall apply to any
   27  qualified sites for which the department of  environmental  conservation
   28  has issued a notice to the taxpayer on or after January 1, 2011 that its
   29  request  for  participation  has  been  accepted  under subdivision 6 of
   30  section 27-1407 of the environmental conservation law, provided,  howev-
   31  er,  that  the  provisions  of  subparagraph  (C)  of  paragraph  (6) of
   32  subsection (b) of section 21 of the tax law, as added by section one  of
   33  this  act  shall  apply  to  tax years beginning on and after January 1,
   34  2015.