Bill Text: NY S05280 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to a certain agreement for a payment in lieu of taxes with respect to a lessee that is a qualified empire zone enterprise of certain real property.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2017-06-19 - SUBSTITUTED BY A7100 [S05280 Detail]

Download: New_York-2017-S05280-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          5280
                               2017-2018 Regular Sessions
                    IN SENATE
                                     March 20, 2017
                                       ___________
        Introduced  by Sens. CROCI, BOYLE -- read twice and ordered printed, and
          when printed to be committed to the Committee  on  Investigations  and
          Government Operations
        AN ACT in relation to a certain agreement for a payment in lieu of taxes
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1.  Notwithstanding  the  provisions  of  subdivision  (e)  of
     2  section  15 of the tax law, with respect to any payment of taxes imposed
     3  on real property with respect to property located at 1800 Motor Parkway,
     4  Islandia, New York, with respect to a lessee that is a qualified  empire
     5  zone enterprise, such taxes shall be deemed to be eligible real property
     6  taxes  with respect to such lessee and (1) such taxes shall be deemed to
     7  have been paid by the lessee pursuant  to  explicit  requirements  in  a
     8  written lease, (2) shall be deemed to become a lien on the real property
     9  during  a  taxable year in which the lessee of the real property is both
    10  certified pursuant to article 18-B of the general municipal  law  and  a
    11  qualified  empire zone enterprise, and (3) the lessee shall be deemed to
    12  have made direct payment of such taxes to the taxing  authority  and  to
    13  have  received  a  receipt  for  such  payment  of taxes from the taxing
    14  authority. Such qualified empire zone enterprise shall  be  eligible  to
    15  claim the real property tax credit provided by section 15 of the tax law
    16  provided  that  for  each  of such periods, the landlord has not filed a
    17  claim for the real property tax credit for such payments.
    18    § 2. Notwithstanding the provisions of section 687 or 1087 of the  tax
    19  law  or  any  other  provision  to the contrary, a claim for a credit or
    20  refund may be filed by the taxpayer with respect to the property located
    21  at 1800 Motor Parkway, Islandia, New York, for taxable years January  1,
    22  2012  through December 31, 2015 where the taxpayer is a qualified empire
    23  zone enterprise.
    24    § 3. This act shall take effect immediately and shall apply to taxable
    25  years beginning on or after January 1, 2012 and before January 1, 2016.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10704-01-7