Bill Text: NY S06635 | 2017-2018 | General Assembly | Introduced

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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: (Engrossed - Dead) 2018-06-04 - referred to economic development [S06635 Detail]

Download: New_York-2017-S06635-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6635
                               2017-2018 Regular Sessions
                    IN SENATE
                                      June 8, 2017
                                       ___________
        Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules
        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
    25  tax credits set forth in sections 14, 15, 16 and 210-B of the tax law as
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13040-01-7
        S. 6635                             2
     1  if  such certification remained in effect on a continuous basis from the
     2  date set forth on its certificate of eligibility.
     3    §  2.  This  act  shall take effect immediately and shall apply to all
     4  taxable years beginning on and after January 1, 2010.