Bill Text: NY S07484 | 2011-2012 | General Assembly | Amended
Bill Title: Relates to payments in lieu of taxes made by certain entities for property located at 176 Rinaldi Boulevard, Poughkeepsie, New York.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2012-08-17 - APPROVAL MEMO.9 [S07484 Detail]
Download: New_York-2011-S07484-Amended.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 7484--A I N S E N A T E May 25, 2012 ___________ Introduced by Sen. SALAND -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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, any payment in lieu of taxes made by a quali- 3 fied empire zone enterprise to the state, a municipal corporation, or a 4 public benefit corporation pursuant to its lease agreement for property 5 located at 176 Rinaldi Boulevard, Poughkeepsie, New York with a landlord 6 that is a party to a payment in lieu of taxes agreement between the 7 landlord and the state, municipal corporation, or public benefit corpo- 8 ration shall be deemed, for the purposes of subdivision (e) of section 9 15 of the tax law, to have been made pursuant to a payment in lieu of 10 taxes agreement with the state, municipal corporation, or public benefit 11 corporation. Such qualified empire zone enterprise shall be eligible to 12 claim the real property tax credit provided by section 15 of the tax law 13 provided that for each of such periods, the landlord has not filed a 14 claim for the real property tax credit for such payments nor made a 15 payment in lieu of taxes to the state, municipal corporation, or public 16 benefit corporation pursuant to its agreement with the state, municipal 17 corporation, or public benefit corporation for such payments. Notwith- 18 standing any section of law to the contrary, such credit shall be based 19 upon the payments in lieu of taxes and employment of the tenant. 20 S 2. This act shall take effect immediately and shall apply to taxable 21 years beginning on and after January 1, 2008. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD16007-02-2