senate Bill S4768

Relates to extending the relocation and employment assistance program and the Lower Manhattan relocation and employment assistance program

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 23 / Apr / 2013
    • REFERRED TO CITIES
  • 21 / May / 2013
    • 1ST REPORT CAL.698
  • 22 / May / 2013
    • 2ND REPORT CAL.
  • 23 / May / 2013
    • ADVANCED TO THIRD READING
  • 21 / Jun / 2013
    • COMMITTED TO RULES
  • 08 / Jan / 2014
    • REFERRED TO CITIES

Summary

Relates to extending the relocation and employment assistance program and the Lower Manhattan relocation and employment assistance program.

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Bill Details

Versions:
S4768
Legislative Cycle:
2013-2014
Current Committee:
Senate Cities
Law Section:
General City Law
Laws Affected:
Amd §§25-z & 25-ee, Gen City L; amd §§22-622 & 22-624, NYC Ad Cd

Votes

6
0
6
Aye
0
Nay
0
aye with reservations
0
absent
0
excused
0
abstained
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Sponsor Memo

BILL NUMBER:S4768

TITLE OF BILL: An act to amend the general city law and the
administrative code of the city of New York, in relation to extending
the relocation and employment assistance program and the Lower
Manhattan relocation and employment assistance program

SUMMARY OF PROVISIONS:

Section 1 of the bill would amend subdivision (b) of section 25-z of
the General City Law to extend the generally applicable deadline for
obtaining a certification of eligibility from the current date of July
1, 2013 to July 1, 2018.

Section 2 of the bill would amend subdivision (b) of section 25-ee of
the General City Law to extend the generally applicable deadline for
obtaining certification of eligibility under the Lower Manhattan
relocation and employment assistance program from the current date of
July 1, 2013 to July 1, 2018.

Sections 3 and 4 of the bill would make corresponding amendments to
the Administrative Code of the City of New York.

Section 5 of the bill would make the bill effective July 1, 2013, with
the provision that if the bill is enacted after that date, its
provisions would be retroactive to that date.

REASONS FOR SUPPORT: The Relocation and Employment Assistance Program
(REAP) was enacted initially to encourage businesses to relocate from
outside the City and from below 96th Street in Manhattan to other
areas of the City. The program provides business income tax credits
to businesses filing the New York City General Corporation Tax,
Unincorporated Business Tax, Bank Tax or Utility Tax. REAP credits are
available for twelve years. In order to be eligible for the program,
firms must meet conditions related to their operations prior to
relocation and improvements to the premises to which they are
relocating.

The Lower Manhattan Relocation and Employment Assistance Program was
intended to provide benefits similar to REAP for businesses that
relocate at least one employee from outside the City to a specified
area in lower Manhattan. The 2004 addition of lower Manhattan to the
program was an enhancement that has successfully assisted in the
rebuilding and revitalization of lower Manhattan after September 11,
2001.

REAP has been an important economic development tool used to encourage
businesses to relocate to less prosperous areas of New York City to
increase local employment.

FISCAL IMPACT: To be determined

EFFECTIVE DATE : July 1, 2013

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4768

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             April 23, 2013
                               ___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Cities

AN ACT to amend the general city law and the administrative code of  the
  city  of New York, in relation to extending the relocation and employ-
  ment assistance program and the Lower Manhattan relocation and employ-
  ment assistance program

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision (b) of section 25-z of the general city law, as
amended  by  chapter  131  of  the  laws  of 2008, is amended to read as
follows:
  (b) No eligible business shall be authorized to receive a credit under
any local law enacted pursuant to this article until the  premises  with
respect  to which it is claiming the credit meet the requirements in the
definition of eligible premises and until  it  has  obtained  a  certif-
ication  of  eligibility from the mayor of such city or an agency desig-
nated by such mayor, and an annual certification from such mayor  or  an
agency  designated  by such mayor as to the number of eligible aggregate
employment shares maintained by such eligible business that may  qualify
for  obtaining a tax credit for the eligible business' taxable year. Any
written documentation submitted to such mayor or such agency or agencies
in order to obtain any such certification  shall  be  deemed  a  written
instrument  for  purposes of section 175.00 of the penal law. Such local
law may provide for application fees to be determined by such  mayor  or
such  agency  or agencies. No such certification of eligibility shall be
issued under any local law enacted pursuant to this article to an eligi-
ble business on or after July first, two  thousand  [thirteen]  EIGHTEEN
unless:
  (1)  prior to such date such business has purchased, leased or entered
into a contract to purchase or lease particular premises or a parcel  on

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10418-01-3

S. 4768                             2

which  will  be constructed such premises or already owned such premises
or parcel;
  (2)  prior to such date improvements have been commenced on such prem-
ises or parcel, which improvements will meet the requirements of  subdi-
vision (e) of section twenty-five-y of this article relating to expendi-
tures for improvements;
  (3) prior to such date such business submits a preliminary application
for a certification of eligibility to such mayor or such agency or agen-
cies  with respect to a proposed relocation to such particular premises;
and
  (4) such business relocates to such particular premises not later than
thirty-six months or, in a case in which the expenditures made  for  the
improvements  specified  in  paragraph  two  of  this subdivision are in
excess of fifty million dollars within seventy-two months from the  date
of submission of such preliminary application.
  S  2.  Subdivision  (b)  of  section 25-ee of the general city law, as
amended by chapter 131 of the laws  of  2008,  is  amended  to  read  as
follows:
  (b) No eligible business or special eligible business shall be author-
ized  to receive a credit against tax under any local law enacted pursu-
ant to this article until the premises  with  respect  to  which  it  is
claiming  the credit meet the requirements in the definition of eligible
premises and until it has obtained a certification of  eligibility  from
the  mayor  of  such city or any agency designated by such mayor, and an
annual certification from such mayor or an  agency  designated  by  such
mayor  as  to  the  number of eligible aggregate employment shares main-
tained by such eligible business or such special eligible business  that
may  qualify for obtaining a tax credit for the eligible business' taxa-
ble year. No special eligible business shall be authorized to receive  a
credit  against  tax  under  the  provisions  of this article unless the
number of relocated employee base shares calculated pursuant to subdivi-
sion (o) of section twenty-five-dd of this article is equal to or great-
er than the lesser of twenty-five percent of the number of New York city
base shares calculated pursuant to subdivision (p) of such  section  and
two hundred fifty employment shares. Any written documentation submitted
to  such  mayor  or  such agency or agencies in order to obtain any such
certification shall be deemed  a  written  instrument  for  purposes  of
section 175.00 of the penal law. Such local law may provide for applica-
tion  fees to be determined by such mayor or such agency or agencies. No
certification of eligibility shall be issued under any local law enacted
pursuant to this article to an eligible business on or after July first,
two thousand [thirteen] EIGHTEEN unless:
  (1) prior to such date such business has purchased, leased or  entered
into  a  contract  to  purchase  or lease premises in the eligible Lower
Manhattan area or a parcel on which will be constructed such premises;
  (2) prior to such date improvements have been commenced on such  prem-
ises  or parcel, which improvements will meet the requirements of subdi-
vision (e) of section twenty-five-dd of this article relating to expend-
itures for improvements;
  (3) prior to such date such business submits a preliminary application
for a certification of eligibility to such mayor or such agency or agen-
cies with respect to a proposed relocation to such premises; and
  (4) such business relocates to such premises as provided  in  subdivi-
sion  (j) of section twenty-five-dd of this article not later than thir-
ty-six months or, in a case in  which  the  expenditures  made  for  the
improvements  specified  in  paragraph  two  of  this subdivision are in

S. 4768                             3

excess of fifty million dollars within seventy-two months from the  date
of submission of such preliminary application.
  S  3.  Subdivision (b) of section 22-622 of the administrative code of
the city of New York, as amended by chapter 131 of the laws of 2008,  is
amended to read as follows:
  (b)  No  eligible  business  shall  be  authorized to receive a credit
against tax or a reduction  in  base  rent  subject  to  tax  under  the
provisions of this chapter, and of title eleven of the code as described
in  subdivision  (a) of this section, until the premises with respect to
which it is claiming the credit meet the requirements in the  definition
of eligible premises and until it has obtained a certification of eligi-
bility from the mayor or an agency designated by the mayor, and an annu-
al  certification from the mayor or an agency designated by the mayor as
to the number of eligible aggregate employment shares maintained by such
eligible business that may qualify for obtaining a tax  credit  for  the
eligible  business' taxable year. Any written documentation submitted to
the mayor or such agency or agencies in order to obtain any such certif-
ication shall be deemed a written instrument  for  purposes  of  section
175.00  of the penal law. Application fees for such certifications shall
be determined by the mayor or such agency or agencies. No  certification
of  eligibility shall be issued to an eligible business on or after July
first, two thousand [thirteen] EIGHTEEN unless:
  (1) prior to such date such business has purchased, leased or  entered
into  a contract to purchase or lease particular premises or a parcel on
which will be constructed such premises or already owned  such  premises
or parcel;
  (2)  prior to such date improvements have been commenced on such prem-
ises or parcel which improvements will meet the requirements of subdivi-
sion (e) of section 22-621 of this chapter relating to expenditures  for
improvements;
  (3) prior to such date such business submits a preliminary application
for a certification of eligibility to such mayor or such agency or agen-
cies  with respect to a proposed relocation to such particular premises;
and
  (4) such business relocates to such particular premises not later than
thirty-six months or, in a case  in  which  the  expenditures  made  for
improvements  specified  in  paragraph  two  of  this subdivision are in
excess of fifty million dollars within seventy-two months from the  date
of submission of such preliminary application.
  S  4.  Subdivision (b) of section 22-624 of the administrative code of
the city of New York, as amended by chapter 131 of the laws of 2008,  is
amended to read as follows:
  (b) No eligible business or special eligible business shall be author-
ized  to receive a credit against tax under the provisions of this chap-
ter, and of title eleven of the code as described in subdivision (a)  of
this  section,  until  the premises with respect to which it is claiming
the credit meet the requirements in the definition of eligible  premises
and  until it has obtained a certification of eligibility from the mayor
or an agency designated by the mayor, and an annual  certification  from
the  mayor  or  an  agency  designated  by the mayor as to the number of
eligible aggregate employment shares maintained by such  eligible  busi-
ness  or  special eligible business that may qualify for obtaining a tax
credit for the eligible business'  taxable  year.  No  special  eligible
business  shall  be authorized to receive a credit against tax under the
provisions of this chapter and of title eleven of the  code  unless  the
number of relocated employee base shares calculated pursuant to subdivi-

S. 4768                             4

sion  (o)  of section 22-623 of this chapter is equal to or greater than
the lesser of twenty-five percent of the number of New  York  city  base
shares  calculated  pursuant  to subdivision (p) of such section 22-623,
and  two  hundred  fifty  employment  shares.  Any written documentation
submitted to the mayor or such agency or agencies in order to obtain any
such certification shall be deemed a written instrument for purposes  of
section  175.00  of  the  penal  law.  Application fees for such certif-
ications shall be determined by the mayor or such agency or agencies. No
certification of eligibility shall be issued to an eligible business  on
or after July first, two thousand [thirteen] EIGHTEEN unless:
  (1)  prior to such date such business has purchased, leased or entered
into a contract to purchase or lease  premises  in  the  eligible  Lower
Manhattan area or a parcel on which will be constructed such premises;
  (2)  prior to such date improvements have been commenced on such prem-
ises or parcel, which improvements will meet the requirements of  subdi-
vision  (e)  of  section 22-623 of this chapter relating to expenditures
for improvements;
  (3) prior to such date such business submits a preliminary application
for a certification of eligibility to such mayor or such agency or agen-
cies with respect to a proposed relocation to such premises; and
  (4) such business relocates to such premises not later than thirty-six
months or, in a case in which the expenditures made for the improvements
specified in paragraph two of this subdivision are in  excess  of  fifty
million dollars within seventy-two months from the date of submission of
such preliminary application.
  S  5.  This  act shall take effect July 1, 2013, provided, however, if
this act shall become a law after such date, it shall take effect  imme-
diately and shall be deemed to have been in full force and effect on and
after July 1, 2013.

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