NY State Senate Bill 2009-S3557

Archive: Last Bill Status - In Senate Committee Finance Committee

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

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Actions

View Actions

Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 29, 2010	print number 3557a
Jan 29, 2010	amend (t) and recommit to finance
Jan 20, 2010	reported and committed to finance
Jan 06, 2010	referred to corporations, authorities and commissions
Apr 22, 2009	reported and committed to finance
Mar 24, 2009	referred to corporations, authorities and commissions

Votes

- Jan 20, 2010 - Corporations, Authorities And Commissions Committee Vote
  S3557
  
  Aye
  
  4
  
  Nay
  
  1
  
  Aye with Reservations
  
  1
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  
  0
  - - Corporations, Authorities And Commissions Committee Vote: Jan 20, 2010
      
      aye (4)
      
      Dilan
      
      Monserrate
      
      Perkins
      
      Squadron
      
      nay (1)
      
      Ranzenhofer
      
      aye wr (1)
      
      Larkin

Bill Amendments

Original

A (Active)

co-Sponsors

2009-S3557 - Details

Current Committee:: Senate Finance
Law Section:: New York State Urban Development Corporation Act
Laws Affected:: Amd §16-m, UDC Act; amd §606, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S3724
2013-2014: S2425

2009-S3557 - Summary

Enacts the "food retail establishment subsidization for healthy communities act" (FRESH Communities); provides loans, loan guarantees, interest subsidies and grants to businesses, municipalities, not-for-profit corporations or local development corporations for the purpose of attracting, maintaining or permitting the expansion of food retail establishments in underserved areas and establishes a tax credit for certain food retail establishments.

2009-S3557 - Sponsor Memo

                                 BILL NUMBER:  S3557

 TITLE OF BILL :

An act to amend the New York state urban development corporation act,
in relation to enacting the food retail establishment subsidization
for healthy communities (FRESH Communities) act


 PURPOSE OR GENERAL IDEA OF BILL :

This bill promotes public health and nutrition by authorizing
assistance for establishment or retention of food retail
establishments selling fresh food in underserved communities.

 SUMMARY OF SPECIFIC PROVISIONS :

Bill § 1 provides that the bill shall be known as the "food retail
establishment subsidization for healthy communities act".

Bill §2 sets forth the legislative intent that the lack of access to
fresh foods is a problem of growing concern in many communities across
the state. substantial increases in urban land values and rents,
limited access to financing and other economic pressures have left
many lower income residents in urban and rural areas underserved by
supermarkets and other food retail establishments. The resulting lack

of access to a variety of fresh food retailers makes it more difficult
and expensive for these residents to maintain a nutritionally balanced
diet and leads to increased public health costs, dilutes the value of
public assistance for food purchases, leads to greater travel times
and energy expenditures to obtain fresh food, and deprives the state's
farmers of markets for t.heir products. Providing access to financial
assistance for urban and rural supermarkets in under served areas will
remedy these adverse conditions, create employment opportunities and
help to revitalize and stabilize currently underserved neighborhoods.

Bill §3 adds a new paragraph (1) to subdivision 1 of §6266-m of the
unconsolidated Laws to authorize the Empire state economic development
fund to provide loans, loan guarantees, interest subsidies and grants
to businesses, municipalities, not-for-profit corporations or local
development corporations for the purpose of attracting, maintaining or
permitting the expansion of food retail establishments in underserved
areas. "underserved areas" shall include low or moderate-income census
tracts, areas of below average supermarket density or having a
supermarket customer base with more than 50% living in low-income
census tracts, or other areas demonstrated to have significant access
limitations due to travel distance, as determined by the corporation.
"Food retail establishments" shall include supermarkets and other
grocery retailers that operate on a self-service basis and sell a
minimum percentage of produce, meat, poultry, seafood, baked goods
and/or dairy products; provided, however, that such term shall not
include convenience stores, and that projects which have multi-tenant
uses are not eligible unless a minimum of 50% of the proposed building
area will be used for food retail establishments.

 EFFECTS OF PRESENT LAW WHICH THIS BILL WOULD ALTER :

There are currently no statutory provisions specifically directed to
ensuring that all communities have the infrastructure needed to ensure
the availability of fresh and nutritious food.

 JUSTIFICATION :

Development pressures in New York's urban areas, increased
consolidation of the retail industry and other socioeconomic factors
have led to a decline in the number of supermarkets and other retail
outlets selling fresh foods. The increasing disappearance of retailers
offering fresh food choices in cities has been identified across the
country as a factor in increased rates of obesity, diabetes and other
nutrition-related health concerns. Our neighboring state of
Pennsylvania has responded by enacting a First Industries Program that
provides grants, loans and loan guarantees to provide financial
assistance to urban and rural supermarkets in under served areas.

Ensuring an adequate number of outlets for fresh produce, dairy
products, meat, poultry, seafood and bakery items will not only
benefit the residents of currently underserved communities, but will
also benefit local and regional growers and processors. In addition,
the bill would reduce energy expenditures and greenhouse gas emissions
by encouraging reliance on less processed food and reducing the need
for long distance transportation. The result will be improved health,
both personal and economic, for communities across New York.

 PRIOR LEGISLATIVE HISTORY :

A.11771 (2008): Referred to Assembly Economic Development Committee.

 FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS :

This bill would authorize the Urban Development Corporation to fund
supermarket projects in underserved areas through the Empire State
economic development fund (EDF), a multi-purpose fund providing
grants, loans and other aid to meet various communities' needs. The
funding level provided for EDF purposes varies from year to year and
is determined as part of the budget process.

 EFFECTIVE DATE :
First day of April after having become a law; provided, however, that
the Urban Development Corporation is immediately authorized to take
any and all actions necessary to fully implement the provisions of
section three of this act on such date; and further provided that the
amendments made by the bill to §6266-m shall not affect the repeal of
such section and shall be deemed repealed therewith.

2009-S3557 - Bill Text download pdf

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

                                  3557

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 24, 2009
                               ___________

Introduced  by  Sen.  ADAMS  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Corporations,  Authorities
  and Commissions

AN ACT to amend the New York state urban development corporation act, in
  relation  to  enacting the food retail establishment subsidization for
  healthy communities (FRESH Communities) act

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

  Section  1.  Short  title. This act shall be known and may be cited as
the "food retail establishment  subsidization  for  healthy  communities
act".
  S 2. Legislative intent. The legislature finds that the lack of access
to  fresh  foods  is  a  problem  of growing concern in many communities
across the state. Substantial increases in urban land values and  rents,
limited  access to financing and other economic pressures have left many
lower-income residents in urban and rural areas underserved by supermar-
kets and other food retail establishments. The resulting lack of  access
to  a variety of fresh food retailers makes it more difficult and expen-
sive for these residents to maintain a nutritionally balanced  diet  and
leads  to  increased  public  health  costs, dilutes the value of public
assistance for food purchases, leads to greater travel times and  energy
expenditures  to  obtain fresh food, and deprives the state's farmers of
markets for their products. Providing access to financial assistance for
urban and rural supermarkets in  underserved  areas  will  remedy  these
adverse conditions, create employment opportunities and help to revital-
ize and stabilize currently underserved neighborhoods.
  S  3.  Paragraph  (k) of subdivision 1 of section 16-m of section 1 of
chapter 174 of the laws of 1968, constituting the New York  state  urban
development corporation act, as added by section 4 of part FF of chapter
59  of  the laws of 2006, is amended and a new paragraph (1) is added to
read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09071-01-9

S. 3557                             2

  (k) Assistance for regional  partnership  proposals,  as  provided  in
subdivision 12 of section 3154 of the public authorities law[.]; AND
  (1)  LOANS,  LOAN  GUARANTEES,  INTEREST SUBSIDIES AND GRANTS TO BUSI-
NESSES, MUNICIPALITIES, NOT-FOR-PROFIT CORPORATIONS OR LOCAL DEVELOPMENT
CORPORATIONS FOR THE PURPOSE OF ATTRACTING,  MAINTAINING  OR  PERMITTING
THE  EXPANSION  OF  FOOD RETAIL ESTABLISHMENTS IN UNDERSERVED AREAS. FOR
PURPOSES OF THIS PARAGRAPH, "UNDERSERVED AREAS"  SHALL  INCLUDE  LOW  OR
MODERATE-INCOME CENSUS TRACTS, AREAS OF BELOW AVERAGE SUPERMARKET DENSI-
TY  OR  HAVING  A SUPERMARKET CUSTOMER BASE WITH MORE THAN FIFTY PERCENT
LIVING IN LOW-INCOME CENSUS TRACTS, OR OTHER AREAS DEMONSTRATED TO  HAVE
SIGNIFICANT  ACCESS LIMITATIONS DUE TO TRAVEL DISTANCE, AS DETERMINED BY
THE CORPORATION, AND "FOOD RETAIL ESTABLISHMENTS" SHALL  INCLUDE  SUPER-
MARKETS AND OTHER GROCERY RETAILERS THAT OPERATE ON A SELF-SERVICE BASIS
AND  SELL A MINIMUM PERCENTAGE OF PRODUCE, MEAT, POULTRY, SEAFOOD, BAKED
GOODS AND/OR DAIRY PRODUCTS; PROVIDED, HOWEVER, THAT SUCH TERM SHALL NOT
INCLUDE CONVENIENCE STORES, AND THAT REAL  ESTATE  PROJECTS  WHICH  HAVE
MULTI-TENANT  USES ARE NOT ELIGIBLE UNLESS A MINIMUM OF FIFTY PERCENT OF
THE BUILDING AREA FOR WHICH ASSISTANCE IS SOUGHT WILL BE USED  FOR  FOOD
RETAIL ESTABLISHMENTS.
  S  4. This act shall take effect on the first of April next succeeding
the date on which it shall have become a law;  provided,  however,  that
the  urban  development  corporation  shall be immediately authorized to
take any and all actions necessary to fully implement the provisions  of
section three of this act on or before such effective date; and provided
further,  that  the  amendments to section 16-m of the urban development
corporation act made by section three of this act shall not  affect  the
expiration of such section and shall be deemed to expire therewith.

co-Sponsors

2009-S3557A (ACTIVE) - Details

Current Committee:: Senate Finance
Law Section:: New York State Urban Development Corporation Act
Laws Affected:: Amd §16-m, UDC Act; amd §606, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S3724
2013-2014: S2425

2009-S3557A (ACTIVE) - Summary

2009-S3557A (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S3557A

 TITLE OF BILL :
An act to amend the New York state urban development corporation act,
in relation to enacting the food retail establishment subsidization
for healthy communities (FRESH Communities) act; and to amend the tax
law, in relation to establishing the retail food establishment living
wages tax credit


 PURPOSE OR GENERAL IDEA OF BILL :
This bill promotes public health and nutrition by authorizing
assistance for establishment or retention of food retail
establishments selling fresh food in underserved communities.

 SUMMARY OF SPECIFIC PROVISIONS :
Section 1:  Short title.  This act shall be known and may be cited as
the "food retail establishment subsidization for health communities
act."

Section 2. Legislative intent: The legislature finds that the lack of
access to fresh foods is a problem of growing concern in many
communities across the state.

Section 3. Paragraph k of subdivision 1 of section 16-m of section 1
of chapter 174 of the laws of 1968, constituting the New York State

Urban Development Corporation Act, as added by section 4 of part FF of
chapter 59 of the laws of 2006, is amended and a new paragraph 1 is
added. The new paragraph includes provisions for underserved
communities that participate in the pride of New York program, accept
payment from electronic benefit transfer through the supplemental
nutrition assistance program, do not charge a membership fee, hire
residents living within a twenty mile radius of their business, and
pay their employees an amount at least equal to a living wage rate.

Section 4. Section 4 of the tax law is amended by adding a new
subdivision 41. Retail food establishment living wage tax credit. A
taxpayer that is a retail food establishment will be allowed a credit
against the tax imposed for providing living wages to its employees.
The amount of the credit shall be equal to the difference between the
New York State minimum wage and the living wage, to be defined by the
commissioner of labor.

Section 5. Subparagraph B of paragraph 1 of subsection 1 of section
606 of the tax law is amended by adding new clause xxxi for retail
food.

Section 6. Section 6 of the tax law is amended by adding a new
subsection k-1. Defines the tax credit for reimbursement to
establishments providing a living wage.

Section 7. Enacting clause.

 JUSTIFICATION :
Development pressures in New York's urban areas, increased
consolidation of the retail industry and other socio economic factors
have led to a decline in the number of supermarkets and other retail
outlets selling fresh foods.  The increasing disappearance of
retailers offering fresh food choices in cities has been identified
across the country as a factor in increased rates of obesity, diabetes
and other nutrition-related health concerns. Our neighboring state of
Pennsylvania has responded by enacting a First Industries Program that
provides grants, loans and loan guarantees to provide financial
assistance to urban and rural supermarkets in under served
communities.

Ensuring an adequate number of outlets for fresh produce, dairy
products, meat, poultry, seafood and bakery items will not only
benefit the residents of currently underserved communities, but will
also benefit local and regional growers and processors.In addition,
the bill would reduce energy expenditures and greenhouse gas emissions
by encouraging reliance on less processed food and reducing the need
for long distance transportation.  The result will be improved health,
both personal and economic, for communities across New York.

Retail establishment that participate in this program will be required
to accept payment from electronic benefit transfer through the
supplemental nutrition assistance program, do not charge a membership
fee, hire residents living within a twenty mile radius of their
business, and pay their employees an amount at least equal to a living
wage rate. Establishments that adhere to the living wage provision
will be reimbursed through tax credits.

 PRIOR LEGISLATIVE HISTORY :
Formerly sponsored by Assemblyman Diaz.  A.11771 (2008), A.5814
(2009).

 FISCAL IMPLICATIONS :
Undetermined.

 EFFECTIVE DATE :
This act shall take effect on the first of April next succeeding the
date on which it shall have become a law; provided, however: that the
urban development corporation shall be immediately authorized to take
any and all actions necessary to fully implement the provisions of
section three of this act on or before such effective date; and
provided further, that the amendments to section l6-m of the urban
development corporation act made by section three of this act shall
not affect the expiration of such section and shall be deemed to
expire therewith; and that the credit established by section four,
five and six of this act shall apply to taxable years beginning on or
after January 1, 2010.

2009-S3557A (ACTIVE) - Bill Text download pdf

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

                                 3557--A

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 24, 2009
                               ___________

Introduced  by  Sens.  ADAMS, KRUEGER -- read twice and ordered printed,
  and when printed to be committed to  the  Committee  on  Corporations,
  Authorities  and Commissions -- recommitted to the Committee on Corpo-
  rations, Authorities and Commissions in accordance with Senate Rule 6,
  sec. 8 -- reported favorably from said committee and committed to  the
  Committee  on  Finance  -- committee discharged, bill amended, ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the New York state urban development corporation act, in
  relation to enacting the food retail establishment  subsidization  for
  healthy communities (FRESH Communities) act; and to amend the tax law,
  in relation to establishing the retail food establishment living wages
  tax credit

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

  Section 1. Short title. This act shall be known and may  be  cited  as
the  "food  retail  establishment  subsidization for healthy communities
act".
  S 2. Legislative intent. The legislature finds that the lack of access
to fresh foods is a problem  of  growing  concern  in  many  communities
across  the state. Substantial increases in urban land values and rents,
limited access to financing and other economic pressures have left  many
lower-income residents in urban and rural areas underserved by supermar-
kets  and other food retail establishments. The resulting lack of access
to a variety of fresh food retailers makes it more difficult and  expen-
sive  for  these residents to maintain a nutritionally balanced diet and
leads to increased public health costs,  dilutes  the  value  of  public
assistance  for food purchases, leads to greater travel times and energy
expenditures to obtain fresh food, and deprives the state's  farmers  of
markets for their products. Providing access to financial assistance for
urban  and  rural  supermarkets  in  underserved areas will remedy these

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09071-03-9

S. 3557--A                          2

adverse conditions, create employment opportunities and help to revital-
ize and stabilize currently underserved neighborhoods.
  S  3.  Paragraph  (k) of subdivision 1 of section 16-m of section 1 of
chapter 174 of the laws of 1968, constituting the New York  state  urban
development corporation act, as added by section 4 of part FF of chapter
59  of  the laws of 2006, is amended and a new paragraph (1) is added to
read as follows:
  (k) Assistance for regional  partnership  proposals,  as  provided  in
subdivision 12 of section 3154 of the public authorities law[.]; AND
  (1)  LOANS,  LOAN  GUARANTEES,  INTEREST SUBSIDIES AND GRANTS TO BUSI-
NESSES, MUNICIPALITIES, NOT-FOR-PROFIT CORPORATIONS OR LOCAL DEVELOPMENT
CORPORATIONS FOR THE PURPOSE OF ATTRACTING,  MAINTAINING  OR  PERMITTING
THE  EXPANSION  OF  FOOD RETAIL ESTABLISHMENTS IN UNDERSERVED AREAS. FOR
PURPOSES OF THIS PARAGRAPH, "UNDERSERVED AREAS"  SHALL  INCLUDE  LOW  OR
MODERATE-INCOME CENSUS TRACTS, AREAS OF BELOW AVERAGE SUPERMARKET DENSI-
TY  OR  HAVING  A SUPERMARKET CUSTOMER BASE WITH MORE THAN FIFTY PERCENT
LIVING IN LOW-INCOME CENSUS TRACTS, OR OTHER AREAS DEMONSTRATED TO  HAVE
SIGNIFICANT  ACCESS LIMITATIONS DUE TO TRAVEL DISTANCE, AS DETERMINED BY
THE CORPORATION, AND "FOOD RETAIL ESTABLISHMENTS" SHALL  INCLUDE  SUPER-
MARKETS AND OTHER GROCERY RETAILERS THAT OPERATE ON A SELF-SERVICE BASIS
AND  SELL A MINIMUM PERCENTAGE OF PRODUCE, MEAT, POULTRY, SEAFOOD, BAKED
GOODS AND/OR DAIRY PRODUCTS AND WHICH:
  (A) PARTICIPATES IN THE PRIDE OF NEW YORK PROGRAM;
  (B) ACCEPT  PAYMENT  FROM  ELECTRONIC  BENEFIT  TRANSFER  THROUGH  THE
SUPPLEMENTAL  NUTRITION  ASSISTANCE  PROGRAM  AND  THROUGH  THE  SPECIAL
SUPPLEMENTAL NUTRITION PROGRAM FOR WOMEN, INFANTS, AND CHILDREN;
  (C) DO NOT CHARGE A MEMBERSHIP FEE;
  (D) HIRE RESIDENTS LIVING WITHIN A TWENTY MILE RADIUS OF  SUCH  RETAIL
FOOD ESTABLISHMENT; AND
  (E)  PAY ITS EMPLOYEES AN AMOUNT AT LEAST EQUAL TO A LIVING WAGE RATE,
WHICH SHALL BE DETERMINED BY THE COMMISSIONER OF LABOR; PROVIDED, HOWEV-
ER, THAT SUCH TERM SHALL NOT INCLUDE CONVENIENCE STORES, AND  THAT  REAL
ESTATE  PROJECTS  WHICH HAVE MULTI-TENANT USES ARE NOT ELIGIBLE UNLESS A
MINIMUM OF FIFTY PERCENT OF THE BUILDING AREA FOR  WHICH  ASSISTANCE  IS
SOUGHT WILL BE USED FOR FOOD RETAIL ESTABLISHMENTS.
  S 4. Section 210 of the tax law is amended by adding a new subdivision
41 to read as follows:
  41.  RETAIL FOOD ESTABLISHMENT LIVING WAGES TAX CREDIT. (A) GENERAL. A
TAXPAYER THAT IS A RETAIL FOOD ESTABLISHMENT AS DEFINED IN PARAGRAPH (B)
OF THIS SUBDIVISION SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY
THIS ARTICLE, FOR PROVIDING LIVING WAGES TO ITS EMPLOYEES.
  (B) RETAIL FOOD ESTABLISHMENTS. AN ELIGIBLE TAXPAYER SHALL BE A RETAIL
FOOD ESTABLISHMENT AS DEFINED IN PARAGRAPH (L)  OF  SUBDIVISION  ONE  OF
SECTION SIXTEEN-M OF SECTION ONE OF THE NEW YORK STATE URBAN DEVELOPMENT
CORPORATION ACT.
  (C)  AMOUNT  OF CREDIT. THE AMOUNT OF THE CREDIT SHALL BE EQUAL TO THE
DIFFERENCE BETWEEN THE NEW YORK STATE MINIMUM WAGE ESTABLISHED  PURSUANT
TO  SECTION  SIX HUNDRED FIFTY-TWO OF THE LABOR LAW AND THE LIVING WAGE,
TO BE DEFINED BY THE COMMISSIONER OF LABOR.
  (D) CARRYOVER. THE CREDIT ALLOWED UNDER THIS SUBDIVISION FOR ANY TAXA-
BLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR  TO  LESS  THAN  THE
HIGHER  OF  THE AMOUNTS PRESCRIBED IN PARAGRAPHS (C) AND (D) OF SUBDIVI-
SION ONE OF THIS SECTION. PROVIDED, HOWEVER, IF  THE  AMOUNT  OF  CREDIT
ALLOWABLE UNDER THIS SUBDIVISION FOR ANY TAXABLE YEAR REDUCES THE TAX TO
SUCH  AMOUNT,  ANY  AMOUNT OF CREDIT NOT DEDUCTIBLE IN SUCH TAXABLE YEAR

S. 3557--A                          3

MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS, AND MAY BE  DEDUCTED
FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
  S  5. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding a  new  clause  (xxxi)  to  read  as
follows:
   (XXXI) RETAIL FOOD                     AMOUNT OF CREDIT
   ESTABLISHMENT TAX CREDIT UNDER         UNDER SUBDIVISION
   SUBSECTION (K-1)                       FORTY-ONE OF SECTION
                                          TWO HUNDRED TEN
  S  6. Section 606 of the tax law is amended by adding a new subsection
(k-1) to read as follows:
  (K-1) RETAIL FOOD ESTABLISHMENT LIVING WAGES TAX CREDIT. (1) A TAXPAY-
ER THAT IS A RETAIL FOOD ESTABLISHMENT AS DEFINED IN  PARAGRAPH  (1)  OF
SUBDIVISION  ONE  OF  SECTION  SIXTEEN-M  OF SECTION ONE OF THE NEW YORK
STATE URBAN DEVELOPMENT  CORPORATION  ACT  SHALL  BE  ALLOWED  A  CREDIT
AGAINST  THE  TAX IMPOSED BY THE ARTICLE. THE AMOUNT OF THE CREDIT SHALL
BE EQUAL TO THE DIFFERENCE BETWEEN  THE  NEW  YORK  STATE  MINIMUM  WAGE
ESTABLISHED  PURSUANT  TO SECTION SIX HUNDRED FIFTY-TWO OF THE LABOR LAW
AND THE LIVING WAGE TO BE DETERMINED BY THE COMMISSIONER OF LABOR.
  (2) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR  ANY
TAXABLE  YEAR  SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS
SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN
ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
  S  7. This act shall take effect on the first of April next succeeding
the date on which it shall have become a law; provided, however:
  1. that the urban development corporation shall be immediately author-
ized to take any and  all  actions  necessary  to  fully  implement  the
provision of section three of this act on or before such effective date;
and  provided  further, that the amendments to section 16-m of the urban
development corporation act made by section three of this act shall  not
affect  the  expiration  of  such  section and shall be deemed to expire
therewith; and
  2. that the credit established by sections four, five and six of  this
act shall apply to taxable years beginning on or after January 1, 2010.

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Senate Bill S3557

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee

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Votes

Jan 20, 2010 - Corporations, Authorities And Commissions Committee Vote

Corporations, Authorities And Commissions Committee Vote: Jan 20, 2010

Bill Amendments

co-Sponsors

2009-S3557 - Details

2009-S3557 - Summary

2009-S3557 - Sponsor Memo

2009-S3557 - Bill Text download pdf

co-Sponsors

2009-S3557A (ACTIVE) - Details

2009-S3557A (ACTIVE) - Summary

2009-S3557A (ACTIVE) - Sponsor Memo

2009-S3557A (ACTIVE) - Bill Text download pdf

Comments

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Senate Bill S3557

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Sponsored By

Eric Adams

Archive: Last Bill Status - In Senate Committee Finance Committee

Actions

Votes

Bill Amendments

co-Sponsors

Liz Krueger

2009-S3557 - Details

2009-S3557 - Summary

2009-S3557 - Sponsor Memo

2009-S3557 - Bill Text download pdf

co-Sponsors

Liz Krueger

2009-S3557A (ACTIVE) - Details

2009-S3557A (ACTIVE) - Summary

2009-S3557A (ACTIVE) - Sponsor Memo

2009-S3557A (ACTIVE) - Bill Text download pdf

Comments