Bill Text: NY A08118 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to the empire zones program.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2018-06-05 - reported referred to rules [A08118 Detail]

Download: New_York-2017-A08118-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          8118
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                      May 30, 2017
                                       ___________
        Introduced  by  M.  of A. SCHIMMINGER -- (at request of the Empire State
          Development) -- read once and referred to the  Committee  on  Economic
          Development
        AN  ACT  to  amend  the general municipal law, in relation to the empire
          zones program
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Subdivision  (f)  of section 963 of the general municipal
     2  law, as amended by section 8 of part S1 of chapter 57  of  the  laws  of
     3  2009, is amended to read as follows:
     4    (f)  All certified businesses, with the exception of those whose bene-
     5  fit period as a QEZE business enterprise has expired,  are  required  to
     6  provide a certified annual report to the local zone administration board
     7  which report shall include but not be limited to the following:
     8    (i)  Business certification information to include: organization name,
     9  organization address in the zone, contact information,  federal  employ-
    10  ment  ID  number, New York state unemployment insurance number, state of
    11  formation or incorporation, verification that the business is authorized
    12  to conduct business in the state of New York;
    13    (ii) Employment numbers calculated in the same  manner  in  which  the
    14  employment  number  is  required to be calculated by section fourteen of
    15  the tax law including: total existing full-time equivalent jobs  in  the
    16  zone  as  of  the date of certification within that zone, total existing
    17  jobs in the zone for the year for which the report  is  being  provided,
    18  total  remuneration  paid  to  employees in the zone each quarter of the
    19  reported year, total number of employees  in  all  zones,  total  annual
    20  remuneration  in  all  zones, total annual remuneration paid in New York
    21  state for the reported year, total employment number in New  York  state
    22  for  the  reported year as shown on each business' NYS-45 wage reporting
    23  form filed with the department of labor;
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09973-01-7
        A. 8118                             2
     1    (iii) Capital investment to include: total investment made in the zone
     2  for the reported year;
     3    (iv)  Tax  benefits  used  and  refunded: provide an estimation of the
     4  amount of the tax benefits used and refunded for the  reported  year  by
     5  the  certified  business, or by the taxpayers within the certified busi-
     6  ness including its shareholders, members, partners or  the  owner  of  a
     7  sole proprietorship including the wage tax credits, investment tax cred-
     8  its,  employment  incentive  tax  credits, real property tax credit, tax
     9  reduction credit; and
    10    (v) The sales tax credits and refunds for the reported year.
    11    § 2. This act shall take effect immediately.