Bill Text: NY A09069 | 2019-2020 | General Assembly | Introduced
Bill Title: Extends certain provisions relating to relocation and employment assistance credits until July 1, 2025.
Spectrum: Partisan Bill (Democrat 29-0)
Status: (Introduced - Dead) 2020-01-15 - referred to cities [A09069 Detail]
Download: New_York-2019-A09069-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 9069 IN ASSEMBLY January 15, 2020 ___________ Introduced by M. of A. CYMBROWITZ -- read once and referred to the Committee on Cities AN ACT to amend the general city law and the administrative code of the city of New York, in relation to extending certain provisions relating to relocation and employment assistance credits The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision (b) of section 25-z of the general city law, as 2 amended by section 3 of part E of chapter 61 of the laws of 2017, is 3 amended to read as follows: 4 (b) No eligible business shall be authorized to receive a credit under 5 any local law enacted pursuant to this article until the premises with 6 respect to which it is claiming the credit meet the requirements in the 7 definition of eligible premises and until it has obtained a certif- 8 ication of eligibility from the mayor of such city or an agency desig- 9 nated by such mayor, and an annual certification from such mayor or an 10 agency designated by such mayor as to the number of eligible aggregate 11 employment shares maintained by such eligible business that may qualify 12 for obtaining a tax credit for the eligible business' taxable year. Any 13 written documentation submitted to such mayor or such agency or agencies 14 in order to obtain any such certification shall be deemed a written 15 instrument for purposes of section 175.00 of the penal law. Such local 16 law may provide for application fees to be determined by such mayor or 17 such agency or agencies. No such certification of eligibility shall be 18 issued under any local law enacted pursuant to this article to an eligi- 19 ble business on or after July first, two thousand [twenty] twenty-five 20 unless: 21 (1) prior to such date such business has purchased, leased or entered 22 into a contract to purchase or lease particular premises or a parcel on 23 which will be constructed such premises or already owned such premises 24 or parcel; 25 (2) prior to such date improvements have been commenced on such prem- 26 ises or parcel, which improvements will meet the requirements of subdi- EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD14135-01-9A. 9069 2 1 vision (e) of section twenty-five-y of this article relating to expendi- 2 tures for improvements; 3 (3) prior to such date such business submits a preliminary application 4 for a certification of eligibility to such mayor or such agency or agen- 5 cies with respect to a proposed relocation to such particular premises; 6 and 7 (4) such business relocates to such particular premises not later than 8 thirty-six months or, in a case in which the expenditures made for the 9 improvements specified in paragraph two of this subdivision are in 10 excess of fifty million dollars within seventy-two months from the date 11 of submission of such preliminary application. 12 § 2. Subdivision (b) of section 25-ee of the general city law, as 13 amended by section 4 of part E of chapter 61 of the laws of 2017, is 14 amended to read as follows: 15 (b) No eligible business or special eligible business shall be author- 16 ized to receive a credit against tax under any local law enacted pursu- 17 ant to this article until the premises with respect to which it is 18 claiming the credit meet the requirements in the definition of eligible 19 premises and until it has obtained a certification of eligibility from 20 the mayor of such city or any agency designated by such mayor, and an 21 annual certification from such mayor or an agency designated by such 22 mayor as to the number of eligible aggregate employment shares main- 23 tained by such eligible business or such special eligible business that 24 may qualify for obtaining a tax credit for the eligible business' taxa- 25 ble year. No special eligible business shall be authorized to receive a 26 credit against tax under the provisions of this article unless the 27 number of relocated employee base shares calculated pursuant to subdivi- 28 sion (o) of section twenty-five-dd of this article is equal to or great- 29 er than the lesser of twenty-five percent of the number of New York city 30 base shares calculated pursuant to subdivision (p) of such section and 31 two hundred fifty employment shares. Any written documentation submitted 32 to such mayor or such agency or agencies in order to obtain any such 33 certification shall be deemed a written instrument for purposes of 34 section 175.00 of the penal law. Such local law may provide for applica- 35 tion fees to be determined by such mayor or such agency or agencies. No 36 certification of eligibility shall be issued under any local law enacted 37 pursuant to this article to an eligible business on or after July first, 38 two thousand [twenty] twenty-five unless: 39 (1) prior to such date such business has purchased, leased or entered 40 into a contract to purchase or lease premises in the eligible Lower 41 Manhattan area or a parcel on which will be constructed such premises; 42 (2) prior to such date improvements have been commenced on such prem- 43 ises or parcel, which improvements will meet the requirements of subdi- 44 vision (e) of section twenty-five-dd of this article relating to expend- 45 itures for improvements; 46 (3) prior to such date such business submits a preliminary application 47 for a certification of eligibility to such mayor or such agency or agen- 48 cies with respect to a proposed relocation to such premises; and 49 (4) such business relocates to such premises as provided in subdivi- 50 sion (j) of section twenty-five-dd of this article not later than thir- 51 ty-six months or, in a case in which the expenditures made for the 52 improvements specified in paragraph two of this subdivision are in 53 excess of fifty million dollars within seventy-two months from the date 54 of submission of such preliminary application.A. 9069 3 1 § 3. Subdivision (b) of section 22-622 of the administrative code of 2 the city of New York, as amended by section 5 of part E of chapter 61 of 3 the laws of 2017, is amended to read as follows: 4 (b) No eligible business shall be authorized to receive a credit 5 against tax or a reduction in base rent subject to tax under the 6 provisions of this chapter, and of title eleven of the code as described 7 in subdivision (a) of this section, until the premises with respect to 8 which it is claiming the credit meet the requirements in the definition 9 of eligible premises and until it has obtained a certification of eligi- 10 bility from the mayor or an agency designated by the mayor, and an annu- 11 al certification from the mayor or an agency designated by the mayor as 12 to the number of eligible aggregate employment shares maintained by such 13 eligible business that may qualify for obtaining a tax credit for the 14 eligible business' taxable year. Any written documentation submitted to 15 the mayor or such agency or agencies in order to obtain any such certif- 16 ication shall be deemed a written instrument for purposes of section 17 175.00 of the penal law. Application fees for such certifications shall 18 be determined by the mayor or such agency or agencies. No certification 19 of eligibility shall be issued to an eligible business on or after July 20 first, two thousand [twenty] twenty-five unless: 21 (1) prior to such date such business has purchased, leased or entered 22 into a contract to purchase or lease particular premises or a parcel on 23 which will be constructed such premises or already owned such premises 24 or parcel; 25 (2) prior to such date improvements have been commenced on such prem- 26 ises or parcel which improvements will meet the requirements of subdivi- 27 sion (e) of section 22-621 of this chapter relating to expenditures for 28 improvements; 29 (3) prior to such date such business submits a preliminary application 30 for a certification of eligibility to such mayor or such agency or agen- 31 cies with respect to a proposed relocation to such particular premises; 32 and 33 (4) such business relocates to such particular premises not later than 34 thirty-six months or, in a case in which the expenditures made for 35 improvements specified in paragraph two of this subdivision are in 36 excess of fifty million dollars within seventy-two months from the date 37 of submission of such preliminary application. 38 § 4. Subdivision (b) of section 22-624 of the administrative code of 39 the city of New York, as amended by section 6 of part E of chapter 61 of 40 the laws of 2017, is amended to read as follows: 41 (b) No eligible business or special eligible business shall be author- 42 ized to receive a credit against tax under the provisions of this chap- 43 ter, and of title eleven of the code as described in subdivision (a) of 44 this section, until the premises with respect to which it is claiming 45 the credit meet the requirements in the definition of eligible premises 46 and until it has obtained a certification of eligibility from the mayor 47 or an agency designated by the mayor, and an annual certification from 48 the mayor or an agency designated by the mayor as to the number of 49 eligible aggregate employment shares maintained by such eligible busi- 50 ness or special eligible business that may qualify for obtaining a tax 51 credit for the eligible business' taxable year. No special eligible 52 business shall be authorized to receive a credit against tax under the 53 provisions of this chapter and of title eleven of the code unless the 54 number of relocated employee base shares calculated pursuant to subdivi- 55 sion (o) of section 22-623 of this chapter is equal to or greater than 56 the lesser of twenty-five percent of the number of New York city baseA. 9069 4 1 shares calculated pursuant to subdivision (p) of such section 22-623, 2 and two hundred fifty employment shares. Any written documentation 3 submitted to the mayor or such agency or agencies in order to obtain any 4 such certification shall be deemed a written instrument for purposes of 5 section 175.00 of the penal law. Application fees for such certif- 6 ications shall be determined by the mayor or such agency or agencies. No 7 certification of eligibility shall be issued to an eligible business on 8 or after July first, two thousand [twenty] twenty-five unless: 9 (1) prior to such date such business has purchased, leased or entered 10 into a contract to purchase or lease premises in the eligible Lower 11 Manhattan area or a parcel on which will be constructed such premises; 12 (2) prior to such date improvements have been commenced on such prem- 13 ises or parcel, which improvements will meet the requirements of subdi- 14 vision (e) of section 22-623 of this chapter relating to expenditures 15 for improvements; 16 (3) prior to such date such business submits a preliminary application 17 for a certification of eligibility to such mayor or such agency or agen- 18 cies with respect to a proposed relocation to such premises; and 19 (4) such business relocates to such premises not later than thirty-six 20 months or, in a case in which the expenditures made for the improvements 21 specified in paragraph two of this subdivision are in excess of fifty 22 million dollars within seventy-two months from the date of submission of 23 such preliminary application. 24 § 5. This act shall take effect immediately.
