Bill Text: NY A10156 | 2015-2016 | General Assembly | Introduced

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Bill Title: Reduces the number of new jobs which must be created by an applicant for eligibility under the excelsior jobs program.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2016-05-24 - reported referred to ways and means [A10156 Detail]

Download: New_York-2015-A10156-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          10156
                   IN ASSEMBLY
                                      May 13, 2016
                                       ___________
        Introduced  by  M.  of  A.  SCHIMMINGER -- read once and referred to the
          Committee on Economic Development
        AN ACT to amend the economic development law, in relation to eligibility
          to participate in the excelsior jobs program
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Subdivision 16 of section 352 of the economic development
     2  law, as amended by section 1 of part K of chapter  59  of  the  laws  of
     3  2015, is amended and a new subdivision 20-a is added to read as follows:
     4    16. "Regionally significant project" means (a) a manufacturer creating
     5  at  least  [fifty]  ten net new jobs in the state and making significant
     6  capital investment in the state; (b) a business creating at least [twen-
     7  ty] ten net new jobs in agriculture in the state and making  significant
     8  capital investment in the state, (c) a financial services firm, distrib-
     9  ution  center,  or  back  office operation creating at least [three] one
    10  hundred net new jobs in the state and making significant capital invest-
    11  ment in the state, (d) a scientific research and development firm creat-
    12  ing at least [twenty] ten net new jobs in the state, and making  signif-
    13  icant  capital  investment  in the state or (e) an entertainment company
    14  creating or obtaining at least two hundred net new jobs in the state and
    15  making significant capital investment in  the  state.  Other  businesses
    16  creating [three] one hundred fifty or more net new jobs in the state and
    17  making  significant  capital  investment  in the state may be considered
    18  eligible as a regionally significant  project  by  the  commissioner  as
    19  well.  The commissioner shall promulgate regulations pursuant to section
    20  three hundred fifty-six of this article to determine  [what  constitutes
    21  significant  capital investment for each of the project categories indi-
    22  cated in this subdivision and] what additional criteria a business  must
    23  meet  to be eligible as a regionally significant project, including, but
    24  not limited to, whether a business exports a substantial portion of  its
    25  products  or  services outside of the state or outside of a metropolitan
    26  statistical area or county within the state.
    27    20-a. "Significant capital investment" means a project which  will  be
    28  either  a newly constructed facility or a newly constructed addition to,
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15191-02-6
        A. 10156                            2
     1  expansion of or  improvement  of  a  facility,  consisting  of  tangible
     2  personal  property  and other tangible property, including buildings and
     3  structural components of buildings, that  are  depreciable  pursuant  to
     4  section  one  hundred  sixty-seven  of the internal revenue code, have a
     5  useful life of four years or more, are acquired by purchase  as  defined
     6  in  section  one  hundred seventy-nine (d) of the internal revenue code,
     7  and that is equal to or exceeds (a) one million dollars for  a  manufac-
     8  turer;  (b)  two hundred fifty thousand dollars for an agriculture busi-
     9  ness; (c) three million dollars for a financial services  firm  or  back
    10  office operation; (d) fifteen million dollars for a distribution center;
    11  (e)  three  million  dollars  for  a scientific research and development
    12  firm; or (f) three million dollars for other businesses.
    13    § 2. Subdivisions 3 and 4 of section 353 of the  economic  development
    14  law,  subdivision  3  as amended by section 2 of part K of chapter 59 of
    15  the laws of 2015 and subdivision 4 as amended by section 1 of part C  of
    16  chapter 68 of the laws of 2013, are amended to read as follows:
    17    3.  For  the  purposes of this article, in order to participate in the
    18  excelsior jobs program, a business  entity  operating  predominantly  in
    19  manufacturing  must  create at least [ten] five net new jobs; a business
    20  entity operating predominately in agriculture must create at least  five
    21  net  new  jobs; a business entity operating predominantly as a financial
    22  service data center or financial services customer back office operation
    23  must create at least [fifty] twenty-five net new jobs; a business entity
    24  operating predominantly in  scientific  research  and  development  must
    25  create  at least five net new jobs; a business entity operating predomi-
    26  nantly in software development must create at least five net new jobs; a
    27  business entity creating or expanding back office operations must create
    28  at least [fifty] twenty-five net new jobs; a business  entity  operating
    29  predominately  in  music  production  must  create at least five net new
    30  jobs; a business entity  operating  predominantly  as  an  entertainment
    31  company  must  create  or obtain at least one hundred net new jobs; or a
    32  business entity operating predominantly as a distribution center in  the
    33  state  must  create at least [seventy-five] fifty net new jobs, notwith-
    34  standing subdivision five of this section; or a business entity must  be
    35  a regionally significant project as defined in this article; or
    36    4.  A business entity operating predominantly in one of the industries
    37  referenced in paragraphs (a) through (h)  of  subdivision  one  of  this
    38  section  but  which  does  not  meet the job requirements of subdivision
    39  three of this section must  have  at  least  twenty-five  full-time  job
    40  equivalents unless such business is a business entity operating predomi-
    41  nantly  in manufacturing then it must have at least [ten] five full-time
    42  job equivalents and must demonstrate that its benefit-cost ratio  is  at
    43  least ten to one.
    44    § 3. This act shall take effect immediately.