Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Sep 04, 2014 |
signed chap.350 |
Aug 25, 2014 |
delivered to governor |
Jun 17, 2014 |
returned to senate passed assembly ordered to third reading rules cal.340 substituted for a9990 |
Jun 11, 2014 |
referred to real property taxation delivered to assembly passed senate |
Jun 10, 2014 |
ordered to third reading cal.1281 committee discharged and committed to rules |
Jun 02, 2014 |
referred to local government |
Senate Bill S7711
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
co-Sponsors
(D) Senate District
2013-S7711 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9990
- Law Section:
- Real Property Taxation
2013-S7711 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7711 TITLE OF BILL: An act relating to a certain agreement for a payment in lieu of taxes PURPOSE: Relates to eligibility of a Qualified Empire Zone Enterprise for real property tax credit for payments in lieu of taxes previously made for specified properties. SUMMARY OF PROVISIONS:Section one relates to eligibility for real property tax credit for payments in lieu of taxes made by a Qualified Empire Zone Enterprise for property located at 14 Rotterdam Industrial Park, Rotterdam, New York. JUSTIFICATION: Qualified Empire Zone Enterprises (QEZE) are vital businesses within our communities that encourage job growth and foster economic development. As an incentive to participate, these entities qualify for certain tax exemptions and refunds. For example, under New York State tax law, a QEZE tenant that is responsible for property taxes under its lease is eligible for a refund for paid property taxes. Payments by a lessee made pursuant to a PILOT agreement qualify as property taxes that are eligible for this refund. However, a policy shift within the New York State Department of Taxation and Finance resulted in the denial of credit for lessee payments as a result of the lessee not being a "party to" the PILOT
2013-S7711 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7711 I N S E N A T E June 2, 2014 ___________ Introduced by Sen. FARLEY -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT relating 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: Section 1. Notwithstanding the provisions of subdivision (e) of section 15 of the tax law, any payment in lieu of taxes made by a quali- fied empire zone enterprise to the state, a municipal corporation, or a public benefit corporation pursuant to its lease agreement for property located at 14 Rotterdam Industrial Park, Schenectady, New York with a landlord that is a party to a payment in lieu of taxes agreement between the landlord and the state, municipal corporation, or public benefit corporation shall be deemed, for the purposes of subdivision (e) of section 15 of the tax law, to have been made pursuant to a payment in lieu of taxes agreement with the state, municipal corporation, or public benefit corporation. Such qualified empire zone enterprise shall be eligible to claim the real property tax credit provided by section 15 of the tax law provided that for each of such periods, the landlord has not filed a claim for the real property tax credit for such payments nor made a payment in lieu of taxes to the state, municipal corporation, or public benefit corporation pursuant to its agreement with the state, municipal corporation, or public benefit corporation for such payments. Notwithstanding any section of law to the contrary, such credit shall be based upon the payments in lieu of taxes and employment of the tenant. S 2. This act shall take effect immediately and shall only apply to taxable years beginning on and after January 1, 2006 and ending on or before December 31, 2009. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15445-02-4
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