Assembly Bill A11366

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

                                  11366

                          I N  A S S E M B L Y

                              June 4, 2010
                               ___________

Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Magnarelli)
  -- read once and referred to the Committee on Ways and Means

AN ACT to amend the tax law, in relation to empire zones capital  credit
  for  contributions  to  qualified  not-for-profit  projects located in
  designated empire zones

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

  Section  1. Subdivision 20 of section 210 of the tax law is amended by
adding a new paragraph (e) to read as follows:
  (E) NOTWITHSTANDING THE EXPIRATION OF THE EMPIRE ZONES  PROGRAM  UNDER
ARTICLE  EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, ANY COMMUNITY DEVELOP-
MENT PROJECT CERTIFIED PURSUANT TO SUBPARAGRAPH THREE OF  PARAGRAPH  (A)
OF  THIS SUBDIVISION ON THE DAY IMMEDIATELY PRECEDING THE DAY THE EMPIRE
ZONES PROGRAM EXPIRES SHALL CONTINUE TO BE DEEMED CERTIFIED  UNTIL  JUNE
THIRTIETH, TWO THOUSAND SEVENTEEN.
  S 2. Subsection (l) of section 606 of the tax law is amended by adding
a new paragraph 5 to read as follows:
  (5)  NOTWITHSTANDING  THE EXPIRATION OF THE EMPIRE ZONES PROGRAM UNDER
ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, ANY COMMUNITY  DEVELOP-
MENT  PROJECT CERTIFIED PURSUANT TO SUBPARAGRAPH (C) OF PARAGRAPH ONE OF
THIS SUBSECTION ON THE DAY IMMEDIATELY  PRECEDING  THE  DAY  THE  EMPIRE
ZONES  PROGRAM  EXPIRES SHALL CONTINUE TO BE DEEMED CERTIFIED UNTIL JUNE
THIRTIETH, TWO THOUSAND SEVENTEEN.
  S 3. Subsection (d) of section 1456 of  the  tax  law  is  amended  by
adding a new paragraph 5 to read as follows:
  (5)  NOTWITHSTANDING  THE EXPIRATION OF THE EMPIRE ZONES PROGRAM UNDER
ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, ANY COMMUNITY  DEVELOP-
MENT  PROJECT CERTIFIED PURSUANT TO SUBPARAGRAPH (C) OF PARAGRAPH ONE OF
THIS SUBSECTION ON THE DAY IMMEDIATELY  PRECEDING  THE  DAY  THE  EMPIRE
ZONES  PROGRAM  EXPIRES SHALL CONTINUE TO BE DEEMED CERTIFIED UNTIL JUNE
THIRTIETH, TWO THOUSAND SEVENTEEN.
  S 4. Subdivision (h) of section 1511 of the  tax  law  is  amended  by
adding a new paragraph 5 to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD17066-03-0
              

A. 11366                            2

  (5)  NOTWITHSTANDING  THE EXPIRATION OF THE EMPIRE ZONES PROGRAM UNDER
ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW, ANY COMMUNITY  DEVELOP-
MENT  PROJECT CERTIFIED PURSUANT TO SUBPARAGRAPH (C) OF PARAGRAPH ONE OF
THIS SUBDIVISION ON THE DAY IMMEDIATELY PRECEDING  THE  DAY  THE  EMPIRE
ZONES  PROGRAM  EXPIRES SHALL CONTINUE TO BE DEEMED CERTIFIED UNTIL JUNE
THIRTIETH, TWO THOUSAND SEVENTEEN.
  S 5. This act shall take effect immediately.