Bill Text: NY S07484 | 2011-2012 | General Assembly | Introduced

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

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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-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7484
                                   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
       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.
   18    S 2. This act shall take effect immediately and shall apply to taxable
   19  years beginning on and after January 1, 2008.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD16007-01-2