senate Bill S3449A

2013-2014 Legislative Session

Enacts the corporate accountability for tax expenditures act

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 24, 2014 print number 3449a
amend and recommit to corporations, authorities and commissions
Jan 08, 2014 referred to corporations, authorities and commissions
Feb 01, 2013 referred to corporations, authorities and commissions

Bill Amendments

Original
A (Active)
Original
A (Active)

Co-Sponsors

S3449 - Details

See Assembly Version of this Bill:
A2062A
Current Committee:
Law Section:
Business Corporation Law
Laws Affected:
Add Art 14 §§1401 - 1405, BC L; add Art 10-E §§3980 - 3984, Pub Auth L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S446A, A5920A
2009-2010: S750, A557

S3449 - Summary

Enacts the corporate accountability for tax expenditures act; standardizes applications for state development assistance for empire zone assistance and industrial development agency assistance; requires submission of certain development assistance agreements to the department of taxation and finance; requires recipients of certain development assistance to submit progress reports which include certain information and disclosures  (view more) makes certain recapture provisions; and defines relevant terms.

S3449 - Sponsor Memo

S3449 - Bill Text download pdf

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

                                  3449

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 1, 2013
                               ___________

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

AN  ACT to amend the business corporation law and the public authorities
  law, in relation to enacting the  "corporate  accountability  for  tax
  expenditures 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 "corporate accountability for tax expenditures act".
  S  2.  The business corporation law is amended by adding a new article
14 to read as follows:
                                ARTICLE 14
              CORPORATE ACCOUNTABILITY FOR TAX EXPENDITURES
SECTION 1401. DEFINITIONS.
        1402. UNIFIED ECONOMIC DEVELOPMENT BUDGET.
        1403. STANDARDIZED APPLICATIONS FOR  STATE  DEVELOPMENT  ASSIST-
                ANCE.
        1404. STATE DEVELOPMENT ASSISTANCE DISCLOSURE.
        1405. RECAPTURE.
S 1401. DEFINITIONS.
  AS USED IN THIS ARTICLE:
  (A) "BASE YEARS" MEANS THE FIRST TWO COMPLETE CALENDAR YEARS FOLLOWING
THE EFFECTIVE DATE OF A RECIPIENT RECEIVING DEVELOPMENT ASSISTANCE.
  (B) "DATE OF ASSISTANCE" MEANS THE COMMENCEMENT DATE OF THE ASSISTANCE
AGREEMENT,  WHICH DATE TRIGGERS THE PERIOD DURING WHICH THE RECIPIENT IS
OBLIGATED TO CREATE OR  RETAIN  JOBS  AND  CONTINUE  OPERATIONS  AT  THE
SPECIFIC PROJECT SITE.
  (C)  "DEFAULT"  MEANS  THAT  A  RECIPIENT  HAS  NOT  ACHIEVED  ITS JOB
CREATION, JOB RETENTION, OR WAGE OR BENEFIT GOALS, AS APPLICABLE, DURING
THE PRESCRIBED PERIOD THEREFOR.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00902-01-3

Co-Sponsors

S3449A (ACTIVE) - Details

See Assembly Version of this Bill:
A2062A
Current Committee:
Law Section:
Business Corporation Law
Laws Affected:
Add Art 14 §§1401 - 1405, BC L; add Art 10-E §§3980 - 3984, Pub Auth L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S446A, A5920A
2009-2010: S750, A557

S3449A (ACTIVE) - Summary

Enacts the corporate accountability for tax expenditures act; standardizes applications for state development assistance for empire zone assistance and industrial development agency assistance; requires submission of certain development assistance agreements to the department of taxation and finance; requires recipients of certain development assistance to submit progress reports which include certain information and disclosures  (view more) makes certain recapture provisions; and defines relevant terms.

S3449A (ACTIVE) - Sponsor Memo

S3449A (ACTIVE) - Bill Text download pdf

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

                                 3449--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 1, 2013
                               ___________

Introduced  by Sens. KRUEGER, HASSELL-THOMPSON, PARKER -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Corporations,  Authorities  and  Commissions  --  recommitted  to  the
  Committee on Corporations, Authorities and Commissions  in  accordance
  with  Senate  Rule  6,  sec.  8 -- committee discharged, bill amended,
  ordered reprinted as amended and recommitted to said committee

AN ACT to amend the business corporation law and the public  authorities
  law,  in  relation  to  enacting the "corporate accountability for tax
  expenditures 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 "corporate accountability for tax expenditures act".
  S 2. The business corporation law is amended by adding a  new  article
14 to read as follows:
                                ARTICLE 14
              CORPORATE ACCOUNTABILITY FOR TAX EXPENDITURES
SECTION 1401. DEFINITIONS.
        1402. UNIFIED ECONOMIC DEVELOPMENT BUDGET.
        1403. STANDARDIZED  APPLICATIONS  FOR  STATE DEVELOPMENT ASSIST-
                ANCE.
        1404. STATE DEVELOPMENT ASSISTANCE DISCLOSURE.
        1405. RECAPTURE.
S 1401. DEFINITIONS.
  AS USED IN THIS ARTICLE:
  (A) "BASE YEARS" MEANS THE FIRST TWO COMPLETE CALENDAR YEARS FOLLOWING
THE EFFECTIVE DATE OF A RECIPIENT RECEIVING DEVELOPMENT ASSISTANCE.
  (B) "DATE OF ASSISTANCE" MEANS THE COMMENCEMENT DATE OF THE ASSISTANCE
AGREEMENT, WHICH DATE TRIGGERS THE PERIOD DURING WHICH THE RECIPIENT  IS
OBLIGATED  TO  CREATE  OR  RETAIN  JOBS  AND  CONTINUE OPERATIONS AT THE
SPECIFIC PROJECT SITE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00902-02-4

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