Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 11, 2009 |
signed chap.203 |
Jul 10, 2009 |
delivered to governor |
Jul 09, 2009 |
returned to assembly repassed senate vote reconsidered - restored to third reading |
Jun 30, 2009 |
passed senate 3rd reading cal.699 substituted for s5880 |
Jun 30, 2009 |
substituted by a8889 ordered to third reading cal.699 |
Jun 15, 2009 |
referred to rules |
Senate Bill S5880
Signed By Governor2009-2010 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status Via A8889 - 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
2009-S5880 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8889
- Law Section:
- New York City Administrative Code
- Laws Affected:
- Amd §11-704, NYC Ad Cd; amd §1115, Tax L; amd Part C §2, Chap 2 of 2005
2009-S5880 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5880 TITLE OF BILL : An act to amend the administrative code of the city of New York and the tax law, in relation to the temporary exemption from commercial rent or occupancy tax for premises used for retail sales in lower Manhattan and the World Trade Center area; and to amend part C of chapter 2 of the laws of 2005 amending the tax law relating to exemptions from sales and use taxes, in relation to the effectiveness of provisions thereof PURPOSE : To extend the expiration date of the New York City commercial rent reduction and sales tax exemption for areas in lower Manhattan that are due to expire this year. SUMMARY OF PROVISIONS : Section one extends the date upon which a lease must be entered into to qualify for the commercial rent tax reduction from June 30, 2009 to June 30, 2013. Section two extends the date upon which a lease must be entered into in order to be eligible to claim the sales tax exemption for equipping office space in the area of lower Manhattan south of canal street outside of the World Trade Center, World Financial Center and Battery
2009-S5880 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5880 2009-2010 Regular Sessions I N S E N A T E June 15, 2009 ___________ Introduced by Sen. SQUADRON -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the administrative code of the city of New York and the tax law, in relation to the temporary exemption from commercial rent or occupancy tax for premises used for retail sales in lower Manhattan and the World Trade Center area; and to amend part C of chapter 2 of the laws of 2005 amending the tax law relating to exemptions from sales and use taxes, in relation to the effectiveness of provisions thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (b-2) of paragraph 2 of subdivision i of section 11-704 of the administrative code of the city of New York, as added by section 8 of part A of chapter 2 of the laws of 2005, is amended to read as follows: (b-2) The amount of the special reduction allowed by this subdivision with respect to a lease other than a sublease commencing between July first, two thousand five and June thirtieth, two thousand [nine] THIR- TEEN with an initial or renewal lease term of at least five years shall be determined as follows: (i) For the base year the amount of such special reduction shall be equal to the base rent for the base year. (ii) For the first, second, third and fourth twelve-month periods following the base year the amount of such special reduction shall be equal to the lesser of (A) the base rent for each such twelve-month period or (B) the base rent for the base year. S 2. Subparagraph (A) of paragraph 7 of subdivision (ee) of section 1115 of the tax law, as added by section 1 of part C of chapter 2 of the laws of 2005, is amended to read as follows: (A) "Tenant" means a person who, as lessee, enters into a space lease with a landlord for a term of ten years or more commencing on or after EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14335-02-9
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