senate Bill S6550

2013-2014 Legislative Session

Relates to New York state incubators and hotspots

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


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

do you support this legislation?

You must fill out the form below in order to support or oppose this bill. X

You must login or fill out the fields below for the senator to have an accurate account of the support or opposition to this bill.

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.
Use this box to enter a message to your senator.

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 28, 2014 reported and committed to finance
Feb 04, 2014 referred to corporations, authorities and commissions

Votes

view votes

Apr 28, 2014 - Corporations, Authorities and Commissions committee Vote

S6550
4
0
committee
4
Aye
0
Nay
2
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Corporations, Authorities and Commissions committee vote details

Corporations, Authorities and Commissions Committee Vote: Apr 28, 2014

aye wr (2)

Co-Sponsors

S6550 - Details

See Assembly Version of this Bill:
A9105
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd §16-v, UDC Act; add §38-a, amd §§210, 606 & 208, Tax L; amd §66, Pub Serv L

S6550 - Summary

Relates to New York state incubators and innovation hotspots.

S6550 - Sponsor Memo

S6550 - Bill Text download pdf

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

                                  6550

                            I N  S E N A T E

                            February 4, 2014
                               ___________

Introduced  by  Sens.  GOLDEN, GALLIVAN, GRIFFO, ROBACH, VALESKY -- read
  twice and ordered printed, and when printed to  be  committed  to  the
  Committee on Corporations, Authorities and Commissions

AN  ACT  to amend the urban development corporation act, the tax law and
  the public service law, in relation to New York state  incubators  and
  hotspots

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

  Section 1. Subdivision 8 of section 16-v of section 1 of  chapter  174
of  the laws of 1968 constituting the urban development corporation act,
as added by section 1 of part C of chapter 59 of the laws  of  2013,  is
amended to read as follows:
  8.  (A)  New York state innovation hot spots may certify clients which
meet the requirements of subdivision nine of this section  as  qualified
entities  eligible  for  New  York state innovation hot spot program tax
benefits pursuant to section thirty-eight  of  the  tax  law.  Under  no
circumstance  may  business  enterprises of incubators designated as New
York state incubators under paragraph (b) of  subdivision  one  of  this
section  be  eligible for tax benefits under section thirty-eight of the
tax law.
  (B) BUSINESS ENTERPRISES DESIGNATED AS NEW YORK STATE INCUBATORS UNDER
PARAGRAPH (B) OF SUBDIVISION ONE OF THIS SECTION OR AS  NEW  YORK  STATE
INNOVATION  HOT SPOTS MAY CERTIFY CLIENTS WHICH MEET THE REQUIREMENTS OF
QUALIFIED   ENTITIES   ELIGIBLE   FOR   TAX   BENEFITS   UNDER   SECTION
THIRTY-EIGHT-A  OF  THE TAX LAW.   SUCH CERTIFICATION AND ANY CHANGES IN
CERTIFICATION SHALL BE FILED WITH THE CORPORATION,  WHICH  SHALL  NOTIFY
THE DEPARTMENT OF TAXATION AND FINANCE. CERTIFICATIONS REGARDING INVEST-
MENTS  AND TAX CREDITS REQUIRED TO BE PROVIDED TO NEW YORK STATE INCUBA-
TORS UNDER SECTION THIRTY-EIGHT-A OF THE TAX LAW  SHALL  ALSO  BE  FILED
WITH  THE  CORPORATION.  A  QUALIFIED ENTITY SHALL SURRENDER ITS CERTIF-
ICATION IF IT LEAVES OR GRADUATES THE INCUBATOR PROGRAM OR IF IT IS SOLD
OR OTHERWISE DISPOSED OF, OR LEAVES THE STATE,  OR  IF  ITS  CERTIFICATE
OTHERWISE EXPIRES.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13388-04-4

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.