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