Bill Text: NY A08454 | 2017-2018 | General Assembly | Amended

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Bill Title: Relates to allowing a previously-certified entity to apply for reinstatement to the empire zone program.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2018-01-03 - referred to economic development [A08454 Detail]

Download: New_York-2017-A08454-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         8454--A
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                      June 16, 2017
                                       ___________
        Introduced  by M. of A. BARCLAY -- read once and referred to the Commit-
          tee on Economic Development --  committee  discharged,  bill  amended,
          ordered reprinted as amended and recommitted to said committee
        AN ACT to allow a previously certified entity to apply for reinstatement
          to the empire zone program
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. An entity previously certified pursuant to article 18-B  of
     2  the  general  municipal  law in the Fulton empire zone at 376 Owen Road,
     3  which has had its certificate of eligibility  revoked  by  empire  state
     4  development,  shall  be provided an opportunity to reinstate its certif-
     5  ication in the empire zone regardless of any notification to the contra-
     6  ry issued by  empire  state  development  or  any  other  state  agency,
     7  provided the following actions are taken by the entity:
     8    (a)  submission  to empire state development of an affidavit signed by
     9  an officer of the company stating that a notice of failure to  file  the
    10  2014  business  annual report and any subsequent notice of revocation of
    11  certification were not received by an officer of the  company  prior  to
    12  the final notice of revocation of the certification;
    13    (b) submission to empire state development of completed business annu-
    14  al reports for tax years 2013 through 2015; and
    15    (c) confirmation as evidenced by the filed business annual reports for
    16  taxable  years  2013 through 2015 demonstrating that the benefit-to-cost
    17  ratio for the entity calculated on  a  combined  basis  for  years  2013
    18  through  2015,  as  the  sum total gross payroll and capital investments
    19  divided by the total tax credits which were used by the entity,  exceeds
    20  a ratio of 10 to 1.
    21    Upon  provision  of  all documentation as set forth in this paragraph,
    22  and written confirmation by empire state development that the  submitted
    23  information  meets these requirements, the entity shall be deemed certi-
    24  fied in the Fulton empire zone and shall be eligible for any benefits or
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13090-02-7
        A. 8454--A                          2
     1  tax credits set forth in sections 14, 15, 16 and 210-B of the tax law as
     2  if such certification remained in effect on a continuous basis from  the
     3  date set forth on its certificate of eligibility.
     4    §  2.  This  act  shall take effect immediately and shall apply to all
     5  taxable years beginning on and after January 1, 2010.