Bill Text: NY S00428 | 2015-2016 | General Assembly | Introduced

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

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

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-01-11 - PRINT NUMBER 428C [S00428 Detail]

Download: New_York-2015-S00428-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          428
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 7, 2015
                                      ___________
       Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
         printed to be committed to the Committee on Investigations and Govern-
         ment Operations
       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] MOST RECENT census, satisfy either of the following criteria:
   14    (A) areas that have both:
   15    (i) a poverty rate of at least twenty percent for the  year  to  which
   16  the data relate; and
   17    (ii)  an  unemployment  rate of at least one and one-quarter times the
   18  statewide unemployment rate for the year to which the data relate, or;
   19    (B) areas that have a poverty rate of at least two times  the  poverty
   20  rate for the county in which the areas are located for the year to which
   21  the  data  relate provided, however, that a qualified site shall only be
   22  deemed to be located in an environmental zone  under  this  subparagraph
   23  [(B)]  if  such site was the subject of a brownfield site cleanup agree-
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01718-01-5
       S. 428                              2
    1  ment pursuant to section 27-1409 of the environmental  conservation  law
    2  that was entered into prior to September first, two thousand ten.
    3    (C)  WITH  RESPECT  TO  ANY QUALIFIED SITE FOR WHICH THE DEPARTMENT OF
    4  ENVIRONMENTAL CONSERVATION HAS ISSUED A NOTICE TO THE  TAXPAYER  BETWEEN
    5  JANUARY  FIRST,  TWO  THOUSAND  ELEVEN  AND JUNE THIRTIETH, TWO THOUSAND
    6  FIFTEEN THAT ITS REQUEST  FOR  PARTICIPATION  HAS  BEEN  ACCEPTED  UNDER
    7  SUBDIVISION  SIX  OF  SECTION  27-1407 OF THE ENVIRONMENTAL CONSERVATION
    8  LAW, ENVIRONMENTAL ZONES SHALL INCLUDE SUCH AREAS THAT MEET THE CRITERIA
    9  CONTAINED IN SUBPARAGRAPH (A) OF THIS PARAGRAPH AS  OF  EITHER  THE  TWO
   10  THOUSAND CENSUS OR THE MOST RECENT CENSUS.
   11    Such  designation  shall  be made and a list of all such environmental
   12  zones shall be established by the commissioner of  economic  development
   13  [no  later  than  December  thirty-first,  two thousand four] BEFORE THE
   14  LATER OF NINETY DAYS AFTER THE EFFECTIVE DATE OF THE CHAPTER OF THE LAWS
   15  OF TWO THOUSAND FIFTEEN THAT  AMENDED  THIS  PARAGRAPH  OR  NINETY  DAYS
   16  FOLLOWING  THE OFFICIAL PUBLICATION OF THE MOST RECENT CENSUS, provided,
   17  however, that a qualified site shall only be deemed to be located in  an
   18  environmental zone under subparagraph (B) of this paragraph if such site
   19  was  the  subject  of  a  brownfield  site cleanup agreement pursuant to
   20  section 27-1409 of the environmental conservation law that  was  entered
   21  into prior to September first, two thousand ten.
   22    S  2.  This  act shall take effect July 1, 2015 and shall apply to any
   23  qualified sites for which the department of  environmental  conservation
   24  has issued a notice to the taxpayer on or after January 1, 2011 that its
   25  request  for  participation  has  been  accepted  under subdivision 6 of
   26  section 27-1407 of the environmental conservation law, provided,  howev-
   27  er,  that  the  provisions  of  subparagraph  (C)  of  paragraph  (6) of
   28  subsection (b) of section 21 of the tax law, as added by section one  of
   29  this  act  shall  apply  to  tax years beginning on and after January 1,
   30  2015.