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Assembly Bill A10223

Vetoed By Governor

2015-2016 Legislative Session

Reinstates certain entities as empire zone business enterprises

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Archive: Last Bill Status - Vetoed by Governor

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2015-A10223 (ACTIVE) - Details

See Senate Version of this Bill:
S7609
Law Section:
Taxation

2015-A10223 (ACTIVE) - Summary

Reinstates certain entities as empire zone business enterprises that were improperly decertified.

2015-A10223 (ACTIVE) - Bill Text download pdf 

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

                                  10223

                          I N  A S S E M B L Y

                              May 17, 2016
                               ___________

Introduced  by  M.  of  A.  SCHIMMINGER -- read once and referred to the
  Committee on Ways and Means

AN ACT to reinstate certain entities as empire zone business enterprises

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

  Section  1.  Notwithstanding  the provisions of section 687 of the tax
law, an empire zone enterprise certified pursuant to article 18-B of the
general municipal law, decertified on or after April 1, 2009 pursuant to
subdivision (w) of section 959 of the general municipal law,  and  rein-
stated  into  the  empire zones program after a determination by the New
York State Supreme Court, Appellate Division that the empire zone enter-
prise was improperly decertified, is entitled to any benefits, tax cred-
its or refunds due for tax years beginning on or after January 1,  2009.
Notwithstanding  any  section  of  law  to  the  contrary, any claim for
reduction in taxes and/or refunds for tax years beginning  on  or  after
January  1,  2009,  for  any such entity, or for any individual who is a
shareholder, partner or member of such entity, shall be deemed, for  the
purposes  of  section  687 of the tax law, to have been made timely with
such credits allowed, and any overpayment of tax or refund of tax  cred-
its shall be paid.
  S  2.  This  act shall take effect immediately and shall only apply to
taxable years beginning on and after January 1, 2009.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13897-01-6

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