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2. "DATE OF SUBSIDY" MEANS THE DATE THAT A GRANTING BODY PROVIDES THE
INITIAL MONETARY VALUE OF A DEVELOPMENT SUBSIDY TO A RECIPIENT CORPO-
RATION PROVIDED, HOWEVER, THAT WHERE THE SUBSIDY IS FOR THE INSTALLATION
OF NEW EQUIPMENT, SUCH DATE SHALL BE THE DATE THE CORPORATION PUTS THE
EQUIPMENT INTO SERVICE AND PROVIDED, FURTHER, THAT WHERE THE SUBSIDY IS
FOR IMPROVEMENTS TO PROPERTY, SUCH DATE SHALL BE THE DATE THE IMPROVE-
MENTS ARE FINISHED, OR THE DATE THE CORPORATION OCCUPIES THE PROPERTY,
WHICHEVER IS EARLIER.
3. "DEVELOPMENT SUBSIDY" MEANS ANY EXPENDITURE OF PUBLIC FUNDS WITH A
VALUE OF AT LEAST TWENTY-FIVE THOUSAND DOLLARS FOR THE PURPOSE OF STIMU-
LATING ECONOMIC DEVELOPMENT WITHIN THE STATE INCLUDING, BUT NOT LIMITED
TO, BONDS, GRANTS, LOANS, LOAN GUARANTEES, ENTERPRISE ZONES, EMPOWERMENT
ZONES, TAX INCREMENT FINANCING, GRANTS, FEE WAIVERS, LAND PRICE SUBSI-
DIES, MATCHING FUNDS, TAX ABATEMENTS, TAX EXEMPTIONS, AND TAX CREDITS.
4. "FULL-TIME JOB" MEANS A JOB IN WHICH AN INDIVIDUAL IS EMPLOYED BY A
RECIPIENT CORPORATION FOR AT LEAST THIRTY-FIVE HOURS PER WEEK.
5. "GRANTING BODY" MEANS ANY AGENCY, BOARD, OFFICE, PUBLIC-PRIVATE
PARTNERSHIP, PUBLIC BENEFIT CORPORATION OR AUTHORITY OF THE STATE OR A
LOCAL GOVERNMENT UNIT THAT PROVIDES A DEVELOPMENT SUBSIDY.
6. "LOCAL GOVERNMENT UNIT" MEANS AN AGENCY, BOARD, COMMISSION, OFFICE,
PUBLIC BENEFIT CORPORATION, OR PUBLIC AUTHORITY OF A POLITICAL SUBDIVI-
SION OF THE STATE.
7. "PART-TIME JOB" MEANS A JOB IN WHICH AN INDIVIDUAL IS EMPLOYED BY A
RECIPIENT CORPORATION FOR LESS THAN THIRTY-FIVE HOURS PER WEEK.
8. "PROJECT SITE" MEANS THE SITE OF A PROJECT FOR WHICH ANY DEVELOP-
MENT SUBSIDY IS PROVIDED, AS SPECIFIED BY THE STREET ADDRESS, NAME OF
LOCALITY, AND ZIP CODE.
9. "PROPERTY-TAXING ENTITY" MEANS ANY ENTITY WHICH LEVIES TAXES UPON
REAL OR PERSONAL PROPERTY.
10. "RECIPIENT CORPORATION" MEANS ANY PERSON, ASSOCIATION, CORPO-
RATION, JOINT VENTURE, PARTNERSHIP OR OTHER ENTITY THAT RECEIVES A
DEVELOPMENT SUBSIDY.
11. "STATE AGENCY" MEANS ANY STATE BOARD, BODY, BUREAU COMMISSION,
COUNCIL, DEPARTMENT, PUBLIC AUTHORITY, PUBLIC CORPORATION, DIVISION,
OFFICE, OR OTHER GOVERNMENTAL ENTITY PERFORMING A GOVERNMENTAL OR
PROPRIETARY FUNCTION FOR THE STATE.
12. "TEMPORARY JOB" MEANS A JOB IN WHICH AN INDIVIDUAL IS HIRED FOR A
SEASON OR FOR A LIMITED PERIOD OF TIME.
§ 452. DEVELOPMENT SUBSIDY CAP. NOTWITHSTANDING ANY OTHER LAW, NO
GRANTING BODY SHALL PROVIDE A DEVELOPMENT SUBSIDY TO A RECIPIENT CORPO-
RATION IN EXCESS OF SIX THOUSAND DOLLARS FOR EACH NEW FULL-TIME JOB
CREATED BY THE RECIPIENT CORPORATION. SUCH NEW FULL-TIME JOBS SHALL MEET
THE REQUIREMENTS SET FORTH IN SECTION FOUR HUNDRED FIFTY-SEVEN OF THIS
ARTICLE.
§ 453. ANNUAL CORPORATE PERFORMANCE REPORTS. 1. EACH RECIPIENT CORPO-
RATION SHALL FILE A DISCLOSURE REPORT WITH THE DEPARTMENT AND GRANTING
BODY NO LATER THAN FEBRUARY FIRST OF EACH YEAR. THE REPORTING FORM SHALL
BE IN A FORM AND MANNER AS PRESCRIBED BY THE COMMISSIONER AND SHALL
INCLUDE THE FOLLOWING INFORMATION:
(A) THE NAME, STREET AND MAILING ADDRESSES, PHONE NUMBER, CHIEF OFFI-
CER OF THE RECIPIENT CORPORATION, SUCH RECIPIENT CORPORATION'S NORTH
AMERICAN INDUSTRY CLASSIFICATION SYSTEM (NAICS) CODE AND ITS DUN & BRAD-
STREET NUMBER;
(B) THE PROJECT STREET ADDRESS WHERE THE SUBSIDIZED ACTIVITY IS TAKING
PLACE IF IT IS DIFFERENT THAN THE ADDRESS SPECIFIED IN PARAGRAPH (A) OF
THIS SUBDIVISION;
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(C) A SUMMARY OF THE NUMBER OF JOBS REQUIRED TO BE CREATED BY THE
RECIPIENT CORPORATION BY THE TERMS OF THE DEVELOPMENT SUBSIDY DEAL, AND
THE NUMBER OF ACTUAL JOBS CREATED OR LOST AT SUCH RECIPIENT CORPORATION
AS OF DECEMBER THIRTY-FIRST OF THE PREVIOUS YEAR;
(D) WHETHER HEALTH CARE INSURANCE COVERAGE IS PROVIDED TO THE EMPLOY-
EES AT THE PROJECT SITE, AND IF SO, THE SHARE OF THE POLICY PREMIUMS
PAID BY THE RECIPIENT CORPORATION;
(E) THE TOTAL EMPLOYMENT IN THE STATE OF THE RECIPIENT CORPORATION'S
CORPORATE PARENT ON DECEMBER THIRTY-FIRST OF THE TWO PREVIOUS YEARS
BROKEN DOWN BY FULL-TIME, PART-TIME AND TEMPORARY JOBS;
(F) A SUMMARY OF CAPITAL INVESTMENT REQUIRED BY THE TERMS OF THE
DEVELOPMENT SUBSIDY DEAL, IF ANY, AND ACTUAL CAPITAL INVESTMENT MADE AS
OF DECEMBER THIRTY-FIRST OF THE PREVIOUS YEAR;
(G) A STATEMENT AS TO WHETHER THE SUBSIDIZED PROJECT HAS, DURING THE
PREVIOUS CALENDAR YEAR, RESULTED IN REDUCED EMPLOYMENT AT ANY OTHER SITE
CONTROLLED BY THE RECIPIENT CORPORATION OR ITS CORPORATE PARENT, INSIDE
OR OUTSIDE THE STATE AS A RESULT OF AUTOMATION, MERGER, ACQUISITION,
CORPORATE RESTRUCTURING, RELOCATION, OR OTHER BUSINESS ACTIVITY;
(H) A STATEMENT SUMMARIZING ANY INSTANCE, DURING THE PREVIOUS CALENDAR
YEAR, IN WHICH THE RECIPIENT CORPORATION, OR A CORPORATE PARENT OR
SUBSIDIARY ENTITY, WAS DETERMINED BY A STATE AGENCY TO HAVE VIOLATED ANY
FEDERAL, STATE OR LOCAL LAW OR REGULATION RELATING TO ENVIRONMENTAL
PROTECTION, TAXATION, LABOR STANDARDS, OR EMPLOYMENT DISCRIMINATION, OR
WAS NOTIFIED THAT AN INVESTIGATION OF A POSSIBLE VIOLATION HAD BEEN
INITIATED; AND
(I) A SIGNED CERTIFICATION BY THE CHIEF OFFICER OF THE RECIPIENT
CORPORATION AS TO THE ACCURACY OF THE PROGRESS REPORT.
2. RECIPIENT CORPORATIONS SHALL FILE SUCH ANNUAL PERFORMANCE REPORTS
FOR THE DURATION OF THE DEVELOPMENT SUBSIDY, OR FOR NOT LESS THAN FIVE
YEARS, WHICHEVER PERIOD IS GREATER.
3. THE GRANTING BODY SHALL HAVE ACCESS AT ALL REASONABLE TIMES TO THE
PROJECT SITE AND THE RECORDS OF THE RECIPIENT CORPORATION TO MONITOR THE
PROJECT AND VERIFY THE ANNUAL CORPORATE PERFORMANCE REPORTS.
4. A RECIPIENT CORPORATION THAT FAILS TO PROVIDE THE DEPARTMENT AND
THE GRANTING BODY WITH A COMPLETED ANNUAL CORPORATE PERFORMANCE REPORT
ON TIME SHALL BE SUBJECT TO A FINE OF NOT LESS THAN FIVE HUNDRED DOLLARS
PER DAY TO COMMENCE WITHIN TEN BUSINESS DAYS AFTER THE FEBRUARY FIRST
DEADLINE, AND OF NOT LESS THAN ONE THOUSAND DOLLARS PER DAY TO COMMENCE
TWENTY DAYS AFTER SUCH DEADLINE.
5. A RECIPIENT CORPORATION THAT FAILS TO PROVIDE THE GRANTING BODY
ACCESS TO THE PROJECT SITE AT A REASONABLE TIME SHALL BE SUBJECT TO A
FINE OF ONE THOUSAND DOLLARS PER DAY COMMENCING WITH THE DAY ACCESS IS
FIRST DENIED.
§ 454. ANNUAL REPORT COMPILATIONS. 1. THE GRANTING BODY SHALL PUBLISH
CONSPICUOUSLY ON THEIR RESPECTIVE WEBSITES A COMPILATION OF THE ANNUAL
CORPORATE PERFORMANCE REPORTS NO LATER THAN APRIL FIRST OF EACH YEAR.
THE GRANTING BODY SHALL ALSO POST PORTABLE DOCUMENT FORMATS (PDF) OF KEY
DOCUMENTS RELATING TO THE DEVELOPMENT SUBSIDY AWARD ON THEIR RESPECTIVE
WEBSITES.
2. SUCH REPORT SHALL CONTAIN ALL OF THE DATA FROM THE ANNUAL CORPORATE
PERFORMANCE REPORTS BOTH IN A SEARCHABLE DATABASE AND AS A SPREADSHEET
THAT CAN BE DOWNLOADED IN ITS ENTIRETY. WHEN A NEW REPORT IS POSTED,
EARLIER VERSIONS OF THE REPORT SHALL REMAIN AVAILABLE ON THE WEBSITE.
3. SUCH REPORT SHALL CONTAIN THE GRANTING BODY'S DETERMINATION OF
WHETHER THE CORPORATE RECIPIENT HAS MET ITS OBLIGATIONS FOR JOB
CREATION, WAGES, AND BENEFITS AS REQUIRED BY THE TERMS OF THE DEVELOP-
A. 3077 4
MENT SUBSIDY. IF THE GRANTING BODY HAS PREVIOUSLY DETERMINED THAT THE
CORPORATE RECIPIENT HAS ACHIEVED ITS OBLIGATIONS, THE REPORT SHALL
CONTAIN THE GRANTING BODY'S DETERMINATION OF WHETHER THE CORPORATE
RECIPIENT HAS MAINTAINED ITS ACHIEVED OBLIGATIONS.
4. IF THE GRANTING BODY DETERMINES THAT THE CORPORATE RECIPIENT HAS
FAILED TO ACHIEVE ITS OBLIGATIONS FOR JOB CREATION, WAGES AND BENEFITS
AS REQUIRED BY THE TERMS OF THE DEVELOPMENT SUBSIDY, OR IF THE GRANTING
BODY DETERMINES THAT THE RECIPIENT CORPORATION HAS FAILED TO MAINTAIN
ITS ACHIEVED OBLIGATIONS, THE REPORT SHALL ALSO STATE WHAT PENALTY OR
PENALTIES THE GRANTING BODY HAS IMPOSED UPON THE CORPORATE RECIPIENT.
5. THE REPORT SHALL ALSO INCLUDE THE GRANTING BODY'S VERIFICATION THAT
THE RECIPIENT CORPORATION'S CORPORATE PARENT HAS MAINTAINED AT LEAST
NINETY PERCENT OF ITS EMPLOYMENT IN THE STATE SINCE DECEMBER THIRTY-
FIRST OF THE YEAR THE DEVELOPMENT SUBSIDY WAS GRANTED. IF THE GRANTING
BODY DETERMINES THAT THE CORPORATE RECIPIENT'S CORPORATE PARENT HAS
FAILED TO MAINTAIN SUCH A LEVEL OF EMPLOYMENT, THE REPORT SHALL INCLUDE
WHATEVER PENALTY OR PENALTIES THE GRANTING BODY HAS IMPOSED UPON THE
CORPORATE RECIPIENT.
§ 455. UNIFIED REPORTING OF TAX REDUCTIONS AND ABATEMENTS. 1. EACH
PROPERTY-TAXING ENTITY SHALL ANNUALLY SUBMIT A REPORT TO THE STATE
DEPARTMENT OF TAXATION AND FINANCE REGARDING ANY REAL PROPERTY IN THE
ENTITY'S JURISDICTION THAT HAS RECEIVED A PROPERTY TAX ABATEMENT, CRED-
IT, REDUCTION OR EXEMPTION DURING THE STATE FISCAL YEAR, INCLUDING
PAYMENTS IN LIEU OF TAXES. SUCH REPORT SHALL CONTAIN INFORMATION INCLUD-
ING, BUT NOT LIMITED TO:
(A) THE NAME OF THE PROPERTY OWNER;
(B) THE ADDRESS OF THE PROPERTY;
(C) THE START AND END DATES OF THE PROPERTY TAX ABATEMENT, CREDIT,
REDUCTION OR EXEMPTION; AND
(D) FOR EACH TAX YEAR, THE EFFECTIVE AMOUNT OF THE TAX ABATEMENT,
CREDIT, REDUCTION OR EXEMPTION BY BOTH PERCENTAGE RATE AND BY DOLLAR
VALUE, INCLUDING, AS APPLICABLE, PAYMENTS IN LIEU OF TAXES.
2. EACH PROPERTY-TAXING ENTITY SHALL ALSO SUBMIT A REPORT TO THE
DEPARTMENT OF TAXATION AND FINANCE REGARDING ANY REAL PROPERTY THAT IS
PUBLICLY OWNED AND LEASED TO A PRIVATE ENTITY, WHERE SUCH PRIVATE ENTITY
IS EXEMPT FROM REAL PROPERTY TAXES. SUCH REPORT SHALL CONTAIN INFORMA-
TION INCLUDING, BUT NOT LIMITED TO:
(A) THE NAME OF THE PROPERTY OWNER;
(B) THE ADDRESS OF THE PROPERTY;
(C) THE START AND END DATES OF THE PROPERTY TAX EXEMPTION; AND
(D) FOR EACH TAX YEAR, THE EFFECTIVE AMOUNT OF THE TAX EXEMPTION BY
BOTH PERCENTAGE RATE AND BY DOLLAR VALUE, INCLUDING, AS APPLICABLE,
PAYMENTS IN LIEU OF TAXES.
3. EACH PROPERTY-TAXING ENTITY SHALL ALSO SUBMIT A REPORT TO THE
DEPARTMENT OF TAXATION AND FINANCE THAT SETS FORTH THE TOTAL PROPERTY
TAX REVENUE LOST DURING THE TAX YEAR AS A RESULT OF ALL PROPERTY TAX
ABATEMENTS AND REDUCTIONS IN THE ENTITY'S JURISDICTION.
4. THE REPORTS REQUIRED UNDER SUBDIVISIONS ONE, TWO, AND THREE OF THIS
SECTION SHALL BE SUBMITTED ELECTRONICALLY TO THE DEPARTMENT OF TAXATION
AND FINANCE IN SUCH FORM AND MANNER AS PRESCRIBED BY THE COMMISSIONER OF
TAXATION AND FINANCE, AND SHALL BE SUBMITTED NO LATER THAN THREE MONTHS
AFTER THE END OF THE TAX YEAR.
5. THE DEPARTMENT OF TAXATION AND FINANCE SHALL ANNUALLY COMPILE AND
PUBLISH ON ITS WEBSITE ALL OF THE DATA CONTAINED IN THE REPORTS REQUIRED
BY SUBDIVISIONS ONE, TWO, AND THREE OF THIS SECTION, BOTH IN A SEARCHA-
A. 3077 5
BLE DATABASE AND AS A SPREADSHEET THAT CAN BE DOWNLOADED IN ITS ENTIRE-
TY, NO LATER THAN SIX MONTHS AFTER THE END OF THE TAX YEAR.
6. IF A PROPERTY-TAXING ENTITY FAILS TO SUBMIT ITS REPORTS TO THE
DEPARTMENT OF TAXATION AND FINANCE WITHIN THE PRESCRIBED TIME PURSUANT
TO SUBDIVISION FOUR OF THIS SECTION, SUCH DEPARTMENT SHALL NOTIFY THE
STATE COMPTROLLER, WHEREUPON THE COMPTROLLER SHALL WITHHOLD PAYMENTS OF
ALL STATE MONIES DUE TO SUCH DELINQUENT PROPERTY-TAXING ENTITY UNTIL THE
ENTITY FILES ITS REPORTS WITH SUCH DEPARTMENT.
§ 456. JOB CREATION STANDARDS. 1. THE RECIPIENT CORPORATION SHALL
CREATE AT LEAST ONE NEW FULL-TIME JOB IN THE STATE FOR EVERY SIX THOU-
SAND DOLLARS OF ASSISTANCE SUCH RECIPIENT CORPORATION RECEIVES FOR A
PROJECT PURSUANT TO SECTION FOUR HUNDRED FIFTY-TWO OF THIS ARTICLE.
2. THE RECIPIENT CORPORATION'S OBLIGATION TO MAINTAIN SUCH NEWLY
CREATED JOBS IN THE STATE SHALL REMAIN IN EFFECT FOR THE DURATION OF THE
DEVELOPMENT SUBSIDY, OR FOR FIVE YEARS, WHICHEVER IS LONGER.
3. THE JOB CREATION REQUIREMENTS PROVIDED IN THIS SECTION SHALL BE
USED TO DETERMINE WHETHER A RECIPIENT CORPORATION IS LIABLE FOR A DEVEL-
OPMENT SUBSIDY RECAPTURE OR RESCISSION.
4. A JOB SHALL NOT QUALIFY AS A NEW JOB WHERE THE SAME JOB PREVIOUSLY
EXISTED IN ANOTHER FACILITY CONTROLLED BY THE RECIPIENT CORPORATION IN
THE UNITED STATES.
§ 457. JOB QUALITY STANDARDS. IN ORDER FOR A JOB TO QUALIFY AS A NEW
FULL-TIME JOB IT SHALL INCLUDE THE FOLLOWING:
1. FOR WAGES FOR PROJECT SITES LOCATED IN A METROPOLITAN STATISTICAL
AREA, AS DEFINED BY THE UNITED STATES OFFICE OF MANAGEMENT AND BUDGET,
THE AVERAGE HOURLY WAGE PAID TO NON-MANAGERIAL EMPLOYEES AT SUCH PROJECT
SITE SHALL BE NO LESS THAN ONE HUNDRED PERCENT OF THE STATE RATE FOR THE
APPLICABLE INDUSTRY, AS MOST RECENTLY ESTABLISHED BY THE UNITED STATES
BUREAU OF LABOR STATISTICS;
2. FOR WAGES FOR PROJECT SITES LOCATED OUTSIDE OF THE METROPOLITAN
STATISTICAL AREA, AS DEFINED BY THE UNITED STATES OFFICE OF MANAGEMENT
AND BUDGET, THE AVERAGE WEEKLY WAGE PAID TO NON-MANAGERIAL EMPLOYEES AT
SUCH PROJECT SITE SHALL BE NO LESS THAN ONE HUNDRED PERCENT OF THE
APPLICABLE INDUSTRY RATE IN THE COUNTY SUCH PROJECT SITE IS LOCATED, AS
MOST RECENTLY ESTABLISHED BY THE UNITED STATES DEPARTMENT OF COMMERCE;
3. HEALTH INSURANCE COVERAGE TO ALL EMPLOYEES WORKING AT THE PROJECT
SITE AND AT LEAST HALF OF THE COST OF THE INSURANCE PREMIUM SHALL BE
PAID BY THE RECIPIENT CORPORATION;
4. AT LEAST ONE THOUSAND EIGHT HUNDRED TWENTY HOURS OF WORK PER YEAR;
5. AT LEAST TWELVE DAYS OF PAID LEAVE FOR VACATION, FAMILY CARE, OR
OTHER PERSONAL TIME OFF PER YEAR;
6. AT LEAST THIRTY PERCENT OF ALL WORK HOURS ARE PERFORMED BY INDIVID-
UALS WHOSE PRIMARY PLACE OF RESIDENCE IS WITHIN A ZIP CODE THAT INCLUDES
A CENSUS TRACT OR PORTION THEREOF IN WHICH THE MEDIAN ANNUAL HOUSEHOLD
INCOME IS LESS THAN FORTY THOUSAND DOLLARS PER YEAR, AS MEASURED AND
REPORTED BY THE UNITED STATES CENSUS BUREAU;
7. AT LEAST TEN PERCENT OF ALL WORK HOURS ARE PERFORMED BY INDIVIDUALS
WHO, PRIOR TO COMMENCING WORK, HAVE AN ANNUAL HOUSEHOLD INCOME OF LESS
THAN FORTY THOUSAND DOLLARS AND FACE AT LEAST TWO OF THE FOLLOWING
BARRIERS TO EMPLOYMENT:
(A) HOMELESSNESS;
(B) ARE A CUSTODIAL SINGLE PARENT;
(C) RECEIVE PUBLIC ASSISTANCE;
(D) DO NOT HAVE A HIGH SCHOOL DIPLOMA OR A GENERAL EQUIVALENCY DIPLOMA
(GED);
(E) HAVE A CRIMINAL RECORD;
A. 3077 6
(F) SUFFER FROM CHRONIC UNEMPLOYMENT;
(G) HAVE BEEN EMANCIPATED FROM THE FOSTER CARE SYSTEM; OR
(H) ARE A VETERAN; AND
8. FOR JOBS IN THE CONSTRUCTION INDUSTRY, THE RECIPIENT CORPORATION
SHALL PARTICIPATE IN AN APPRENTICESHIP PROGRAM THAT IS REGISTERED WITH
THE STATE OR FEDERAL GOVERNMENT.
§ 458. TAXPAYER PROTECTION. 1. THE GRANTING BODY AWARDING DEVELOPMENT
SUBSIDIES SHALL CROSS-CHECK JOB-CREATION AND OTHER PERFORMANCE DATA
SUBMITTED BY RECIPIENT CORPORATIONS AGAINST UNEMPLOYMENT INSURANCE
RECORDS AND SHALL CONDUCT PERIODIC AUDITS OF SUCH RECIPIENT CORPORATIONS
USING A THIRD-PARTY AUDITOR.
2. A RECIPIENT CORPORATION SHALL BE SUBJECT TO THEIR DEVELOPMENT
SUBSIDY RECAPTURE OR RESCISSION IF:
(A) IT FAILS TO ACHIEVE ITS JOB CREATION, WAGE, AND HEALTH CARE
REQUIREMENTS PURSUANT TO SECTIONS FOUR HUNDRED FIFTY-SIX AND FOUR
HUNDRED FIFTY-SEVEN OF THIS ARTICLE FOR THE PROJECT SITE WITHIN TWO
YEARS OF THE DATE OF SUBSIDY;
(B) IT FAILS TO MAINTAIN ITS WAGE AND BENEFIT REQUIREMENTS PURSUANT TO
SECTION FOUR HUNDRED FIFTY-SEVEN OF THIS ARTICLE AS LONG AS THE DEVELOP-
MENT SUBSIDY IS IN EFFECT, OR FOR FIVE YEARS, WHICHEVER IS LONGER; OR
(C) THE CORPORATE PARENT OF THE RECIPIENT CORPORATION FAILS TO MAIN-
TAIN, FOR THE DURATION OF THE DEVELOPMENT SUBSIDY, OR FOR FIVE YEARS,
WHICHEVER IS LONGER, AT LEAST NINETY PERCENT OF ITS EMPLOYMENT IN THE
STATE.
3. A RECAPTURE OR RESCISSION OF THE DEVELOPMENT SUBSIDY SHALL TAKE
PLACE AS FOLLOWS:
(A) FOR EACH YEAR THE RECIPIENT CORPORATION DOES NOT MEET THE JOB
CREATION, WAGES, AND HEALTH CARE INSURANCE REQUIREMENTS PURSUANT TO
SECTIONS FOUR HUNDRED FIFTY-SIX AND FOUR HUNDRED FIFTY-SEVEN OF THIS
ARTICLE, THE VALUE OF THE DEVELOPMENT SUBSIDY SHALL BE REDUCED ON A
PRORATED BASIS BY THE SAME SHARE OF JOBS THAT WERE NOT CREATED, THAT
FAILED TO MEET THE WAGE REQUIREMENTS, OR THAT FAILED TO MEET THE HEALTH
CARE INSURANCE REQUIREMENTS. IF THE DEVELOPMENT SUBSIDY HAS ALREADY
BEEN PAID TO THE RECIPIENT CORPORATION, THE STATE SHALL RECAPTURE THE
SUBSIDY REDUCTION PURSUANT TO THIS PARAGRAPH.
(B) IF A RECIPIENT CORPORATION DOES NOT MEET ITS JOB CREATION REQUIRE-
MENTS PURSUANT TO SECTION FOUR HUNDRED FIFTY-SIX OF THIS ARTICLE BY
TWENTY-FIVE PERCENT OR MORE FOR THREE CONSECUTIVE YEARS THE DEVELOPMENT
SUBSIDY SHALL BE RECAPTURED ON A PRORATED BASIS BY THE SAME SHARE OF
JOBS THAT WERE NOT CREATED FOR THE THIRD YEAR IN DEFAULT AND THE DEVEL-
OPMENT SUBSIDY SHALL BE RESCINDED EFFECTIVE JANUARY FIRST OF THE FOLLOW-
ING YEAR.
(C) FOR EACH YEAR THE CORPORATE PARENT FAILS TO MAINTAIN AT LEAST
NINETY PERCENT OF ITS EMPLOYMENT IN THE STATE, THE DEVELOPMENT SUBSIDY
SHALL BE REDUCED AT TWICE THE RATE OF THE CORPORATE PARENT'S JOB LOSS
PERCENTAGE FROM DECEMBER THIRTY-FIRST OF THE YEAR THE DEVELOPMENT SUBSI-
DY WAS GRANTED. IF THE SUBSIDY HAS ALREADY BEEN PAID TO THE RECIPIENT
CORPORATION, THE STATE SHALL RECAPTURE THE SUBSIDY REDUCTION PURSUANT TO
THIS PARAGRAPH.
(D) IF THE CORPORATE PARENT FAILS TO MAINTAIN AT LEAST NINETY PERCENT
OF ITS EMPLOYMENT IN THE STATE FOR THREE CONSECUTIVE YEARS, THE DEVELOP-
MENT SUBSIDY SHALL BE RESCINDED EFFECTIVE JANUARY FIRST OF THE FOLLOWING
YEAR.
4. THE STATE SHALL PUBLISH ON ITS WEBSITE UPDATED SUMMARY STATISTICS
REGARDING ITS RECAPTURE AND RESCISSION ENFORCEMENT ACTIVITIES AS WELL AS
LISTS OF RECIPIENT CORPORATIONS SUBJECT TO SUCH PENALTIES.
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§ 459. PUBLIC RECORDS. ALL RECORDS REQUIRED TO BE PREPARED OR MAIN-
TAINED UNDER THIS ARTICLE INCLUDING, BUT NOT LIMITED TO, PERFORMANCE
REPORTS, RECAPTURE PROCEEDINGS, AND ANY OTHER RECORDS RELATING THERETO,
SHALL BE SUBJECT TO DISCLOSURE UNDER THE STATE FREEDOM OF INFORMATION
LAW.
§ 460. PRIVATE ENFORCEMENT ACTION. IF A GRANTING BODY FAILS TO ENFORCE
ANY PROVISION OF THIS ARTICLE, ANY INDIVIDUAL WHO PAID PERSONAL INCOME
TAXES TO THE STATE IN THE CALENDAR YEAR PRIOR TO THE YEAR SUCH GRANTING
BODY FAILED TO ENFORCE SUCH PROVISIONS, OR ANY ORGANIZATION REPRESENTING
SUCH TAXPAYERS, SHALL BE ENTITLED TO BRING A CIVIL ACTION IN A COURT OF
COMPETENT JURISDICTION TO COMPEL COMPLIANCE WITH THIS ARTICLE. THE COURT
SHALL AWARD REASONABLE ATTORNEY'S FEES AND COSTS TO A PREVAILING TAXPAY-
ER OR ORGANIZATION.
§ 461. UNIFIED ECONOMIC DEVELOPMENT BUDGET. THE DEPARTMENT OF TAXATION
AND FINANCE SHALL SUBMIT AN ANNUAL UNIFIED ECONOMIC DEVELOPMENT BUDGET
TO THE LEGISLATURE NO LATER THAN THREE MONTHS AFTER THE END OF THE
STATE'S FISCAL YEAR. SUCH REPORT SHALL BE POSTED ON THE DEPARTMENT'S
WEBSITE. SUCH REPORT SHALL INCLUDE EXPENDITURES FOR ECONOMIC DEVELOPMENT
DURING THE PRIOR FISCAL YEAR, INCLUDING BUT NOT LIMITED TO:
1. THE AMOUNT OF UNCOLLECTED, FORGIVEN, CREDITED OR REBATED STATE TAX
REVENUE RESULTING FROM EVERY CORPORATE TAX CREDIT, ABATEMENT, EXEMPTION,
AND REDUCTION PROVIDED BY THE STATE OR LOCAL GOVERNMENT FOR THE PURPOSE
OF JOB CREATION AND/OR RETENTION INCLUDING, BUT NOT LIMITED TO GROSS
RECEIPTS, INCOME, SALES, USE, RAW MATERIALS, EXCISE, PROPERTY, UTILITY,
AND INVENTORY TAXES; AND
2. THE NAME OF EACH CORPORATE TAXPAYER WHICH CLAIMED ANY TAX CREDIT,
ABATEMENT, EXEMPTION OR REDUCTION PURSUANT TO SUBDIVISION ONE OF THIS
SECTION OF ANY VALUE EQUAL TO OR GREATER THAN FIVE THOUSAND DOLLARS, AND
THE DOLLAR AMOUNT OF SUCH TAX CREDIT, ABATEMENT, EXEMPTION OR REDUCTION.
§ 462. SEVERABILITY. IF ANY CLAUSE, SENTENCE, PARAGRAPH, SUBDIVISION,
SECTION OR PART OF THIS ARTICLE SHALL BE ADJUDGED BY ANY COURT OF COMPE-
TENT JURISDICTION TO BE INVALID, SUCH JUDGMENT SHALL NOT AFFECT, IMPAIR
OR INVALIDATE THE REMAINDER THEREOF, BUT SHALL BE CONFINED IN ITS OPERA-
TION TO THE CLAUSE, SENTENCE, PARAGRAPH, SUBDIVISION, SECTION OR PART
THEREOF DIRECTLY INVOLVED IN THE CONTROVERSY IN WHICH SUCH JUDGMENT
SHALL HAVE BEEN RENDERED.
§ 2. This act shall take effect on the one hundred eightieth day after
it shall have become a law and shall apply to all development subsidy
agreements entered into, renewed, modified or amended on and after such
date.