NY State Senate Bill 2015-S3837A

Archive: Last Bill Status - In Senate Committee Local Government 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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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 15, 2016	print number 3837a
Jan 15, 2016	amend and recommit to local government
Jan 06, 2016	referred to local government
Feb 20, 2015	referred to local government

Bill Amendments

Original

A (Active)

2015-S3837 - Details

Current Committee:: Senate Local Government
Law Section:: General Municipal Law
Laws Affected:: Add Art 18-D §§974 - 974-c, Gen Muni L; amd §§210-B, 606 & 1511, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S5491
2013-2014: S2471

2015-S3837 - Summary

Enacts the New York state green economic development zones act to offer special incentives and assistance that promote the development of new green businesses and expansion of existing businesses within designated green economic development zones in areas of Staten Island.

2015-S3837 - Sponsor Memo

                                BILL NUMBER:S3837

TITLE OF BILL:  An act to amend the general municipal law and the tax
law, in relation to enacting the New York state green economic
development zones act

PURPOSE OR GENERAL IDEA OF BILL: This legislation would create the
Green Enterprise Trade Zone, which is a designated area in the
commercial and/or industrial zoned area of Staten Island. It would
attract companies producing goods and services for the Green
Environmental Standards that government is mandating and leverage
green business strategies and green technology, with investment tax
credits to accelerate investment in our City and State green tech and
clean tech developing industries.

SUMMARY OF SPECIFIC PROVISIONS: Section 1 of this bill states the name
of the act.

Section 2 of this bill establishes the types of green businesses that
are covered under the act and establishes the Green Zone location
within Staten Island. It also grants the commissioner of economic
development the authority to establish rules and regulations.

Section 3 amends Section 210 of the tax law to allow for a thirty
percent credit of any business or investment capital spent by a
qualifying business within the Green Zone.

Sections 4 and 5 amend Section 616 of the tax law to allow for a
thirty percent credit of any business or investment capital spent by a
qualifying business within the Green Zone.

Section 6 amends Section 1456 of the tax law to allow for a thirty
percent credit of any business or investment capital spent by a
qualifying business within the Green Zone.

Section 7 amends Section 1511 of the tax law to allow for a thirty
percent credit of any business or investment capital spent by a
qualifying business within the Green Zone.

Section 8 states that the law shall take effect immediately.

JUSTIFICATION: The NYC Regional Council designated the Staten Island
Green Zone as one of eight priority projects for the City of New York
in its January 2012 report to the Governor. In addition, the Regional
Council also designated the West Shore of Staten Island, which is home
to the proposed Green Zone, as an "Opportunity Zone" meaning special
attention from Staten funding agencies should be given to this region,
including funding through the Excelsior Tax Credit program. The
Federal Economic Development Administration recently awarded the
Staten Island Economic Development Corporation $120,000 grant to study
the proposed Green Zone.

The Green Zone is a geographically designated area of Staten Island
aimed at attracting companies that produce Green goods and services,
or who utilize Green technology. The Green Zone attracts companies who
work within the sphere of smart growth and environmentally friendly
development and research. The Green Zone acts as a "go to place" for


the entrepreneur who is prepared to put their technology into
production and the market. Staten Island has a rich history of
manufacturing and industrial production and a strong base for skilled
labor. Advances in Green technology allow for increased and
diversified employment and production on Staten Island. Businesses
that take measurable steps in increasing energy and material
efficiency will be the standard-bearers for increased Green
initiatives throughout the region. The Green Zone and the initiatives
of Green Zone companies will educate local companies and residents
about the Green economy. This education and availability of resources
will allow for efficiency retrofits, professional support and guidance
for companies seeking financial incentives for Green investment,
promote Green Collar job retraining options, improve alternative
energy development, and attract Green businesses that create
sustainable employment opportunities for Islanders.

A Green Enterprise Trade Zone is not unlike a Foreign Trade Zone. The
concept of a Foreign Trade Zone has been part of our economic scheme
since the 1930's. It exempted from tax, merchandise entering and
leaving the Foreign Trade Zone, promotes trade and economic
development.

This legislation proposes to establish a Green enterprise Zone to
encourage and develop the green technologies necessary to slow the
outflow of our U.S. dollars to purchase foreign oil, to protect our
environment by encouraging the adoption of green business strategies
and the production of green technology thus creating an area where the
investment community can focus on green product development, as well
as an area where green products can be manufactured. This zone will
establish a location where companies focusing on green economic
development can come together to individually and jointly spur
development of a more green state.

Most importantly, the Green Zone Act will provide a tax credit for the
businesses that invest within it, providing an incentive to relocate
within the zone and create the synergies of locating in a common area.

PRIOR LEGISLATIVE HISTORY:  2014: Print number 2471B/Print number 128b
2012: A.2219-E - Held for consideration in Ways and Means; S.5491-F
died in Finance; 2010: A.10662-Died in Assembly Economic Development.

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: This act shall take effect immediately.

2015-S3837 - Bill Text download pdf

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

                                  3837

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 20, 2015
                               ___________

Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to amend the general municipal law and the tax law,  in  relation
  to enacting the New York state green economic development zones 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 "New York state green economic development zones act".
  S 2. The general municipal law is amended by adding a new article 18-D
to read as follows:
                               ARTICLE 18-D
                    GREEN ECONOMIC DEVELOPMENT ZONES

SECTION 974. SHORT TITLE.
        974-A. LEGISLATIVE FINDINGS AND DECLARATION.
        974-B. DEFINITIONS.
        974-C. RESPONSIBILITIES OF THE COMMISSIONER.
  S  974.   SHORT TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS
THE "NEW YORK STATE GREEN ECONOMIC DEVELOPMENT ZONES ACT".
  S 974-A.  LEGISLATIVE FINDINGS AND DECLARATION.   IT IS  HEREBY  FOUND
AND  DECLARED  THAT  THERE EXISTS WITHIN THE STATE THE NEED TO STIMULATE
EMPLOYMENT AND MORE EFFICIENT TRANSPORTATION BY UTILIZING  THE  EMERGING
GREEN TECHNOLOGY THAT WILL REDUCE THE OUTPUT OF CARBON IN THE ATMOSPHERE
OF  THE  STATE,  IMPROVE  THE  STATE'S ENVIRONMENTAL QUALITY OF LIFE AND
GENERAL HEALTH OF THE RESIDENTS. THIS NEED REQUIRES THE STATE GOVERNMENT
TO TARGET AREAS FOR EXTRAORDINARY ECONOMIC DEVELOPMENT PROGRAMS IN ORDER
TO STIMULATE PRIVATE INVESTMENT, PRIVATE BUSINESS  DEVELOPMENT  AND  JOB
CREATION.  IT  IS THE PUBLIC POLICY OF THE STATE TO OFFER SPECIAL INCEN-
TIVES AND ASSISTANCE THAT WILL PROMOTE  THE  DEVELOPMENT  OF  NEW  GREEN
BUSINESSES AND THE EXPANSION OF EXISTING BUSINESSES WITHIN PRE-DESIGNAT-
ED  AREAS  AND  TO  DO SO WITHOUT ENCOURAGING THE RELOCATION OF BUSINESS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01033-01-5

S. 3837                             2

INVESTMENT FROM OTHER AREAS OF  THE  STATE.  IT  IS  FURTHER  FOUND  AND
DECLARED  THAT  IT  IS  THE  PUBLIC POLICY OF THE STATE TO ACHIEVE THESE
GOALS THROUGH THE MUTUAL COOPERATION OF ALL LEVELS OF  STATE  AND  LOCAL
GOVERNMENT  AND  THE BUSINESS COMMUNITY.  STATEN ISLAND FACES UNIQUE AND
SERIOUS ECONOMIC DEVELOPMENT ISSUES THAT ARE NOT  ENCOUNTERED  BY  OTHER
COMPARABLE  COUNTIES AND MUNICIPALITIES IN THE REGION. THESE INCLUDE THE
COST OF TRANSPORTATION DUE TO DISTANCE, TOLLS AND TRAFFIC AS WELL AS THE
LIMITED DEVELOPMENT OPPORTUNITIES BECAUSE OF WETLANDS  AND  BROWNFIELDS.
SPECIAL  ASSISTANCE  THROUGH  TAX  BENEFITS  IS  REQUIRED  TO  ALLOW THE
PROPOSED AREA TO BE COMPETITIVE WITHIN THE REGION.
  S 974-B. DEFINITIONS. AS USED IN THIS  ARTICLE,  THE  FOLLOWING  TERMS
SHALL  HAVE  THE  FOLLOWING  MEANINGS  UNLESS THE CONTEXT SHALL INDICATE
ANOTHER OR DIFFERENT MEANING OR INTENT:
  (A) "APPLICANT" SHALL MEAN THE COUNTY, CITY, TOWN OR  VILLAGE  SUBMIT-
TING  AN  APPLICATION  IN  THE MANNER AUTHORIZED BY LOCAL LAW FOR DESIG-
NATION OF AN AREA AS A GREEN ECONOMIC DEVELOPMENT ZONE.
  (B) "ENTERPRISE" SHALL MEAN A BUSINESS ENTERPRISE THAT  IS  AUTHORIZED
TO DO BUSINESS IN THIS STATE AND IS INDEPENDENTLY OWNED AND OPERATED AND
FOUND TO COMPLY WITH GREEN ECONOMIC DEVELOPMENT ZONE CRITERIA.
  (C)  "GREEN BUSINESS" SHALL MEAN A BUSINESS THAT PRIMARILY OPERATES IN
ONE OR MORE OF THREE AREAS: PRODUCTION, SERVICE AND REPAIR, AND RESEARCH
AND DEVELOPMENT.  A GREEN PRODUCTION COMPANY IS A COMPANY DEALING PRIMA-
RILY WITH THE MANUFACTURING AND DISTRIBUTION OF ENERGY EFFICIENCY  TECH-
NOLOGIES  AND  GREENHOUSE  GAS  EMISSION  REDUCTION  TECHNOLOGIES. GREEN
PRODUCTION COMPANIES INCLUDE, BUT ARE NOT LIMITED TO, BIO FUEL  DEVELOP-
MENT,  SOLAR  PANEL  PRODUCTION  OR ASSEMBLY, WIND TURBINE PRODUCTION OR
ASSEMBLY, CARBON CAPTURE AND STORAGE  MECHANISM,  CLEAN  FUEL  VEHICLES,
RENEWABLE  ENERGY  DEVELOPMENT, OR ENERGY EFFICIENCY TECHNOLOGIES. GREEN
PRODUCTION SHALL ALSO INCLUDE, BUT SHALL NOT BE LIMITED TO, THE  FOLLOW-
ING:    (1) GREENHOUSE EMISSION REDUCTION TECHNOLOGIES; (2) THE ASSEMBLY
OF ESSENTIAL COMPONENTS FOR A CLEAN-FUELED VEHICLE; OR (3) ENERGY  EFFI-
CIENCY TECHNOLOGIES; WHERE
  (A)  "GREENHOUSE  GAS  EMISSION REDUCTION TECHNOLOGIES" SHALL MEAN AND
INCLUDE, BUT NOT BE LIMITED TO:  (I)  COGENERATION  TECHNOLOGIES,  WHICH
SHALL  MEAN  ANY ONE OF THE SEVERAL TECHNOLOGIES WHEREIN WASTE HEAT FROM
ON-SITE ELECTRICAL GENERATION PROCESSES IS RECOVERED TO PROVIDE STEAM OR
HOT WATER TO MEET ON-SITE NEEDS, SUCH AS HEATING AND/OR AIR CONDITIONING
AND WHICH ATTAINS  OVERALL  SYSTEM  EFFICIENCY  AS  ESTABLISHED  BY  THE
DEPARTMENT  OF  ENVIRONMENTAL CONSERVATION, CONSIDERING BOTH THERMAL AND
ELECTRICAL PROCESSES TOGETHER; (II) FURNACE AND BOILER REPLACEMENTS  AND
RETROFITS,  PROVIDED  THAT  THE  NEW OR RETROFITTED FURNACES AND BOILERS
SHALL NOT AT ANY TIME OPERATE ON DIESEL FUEL WITH SULFUR CONTENT GREATER
THAN 0.05 PERCENT BY WEIGHT; (III) THE PRODUCTION OF CLEAN-FUELED  VEHI-
CLES  OR  THE  CONVERSION OF EXISTING VEHICLES TO CLEAN-FUELED VEHICLES;
AND (IV) OTHER MEASURES THAT WILL  REDUCE  THE  DEMAND  FOR  AND/OR  THE
CONSUMPTION  OF  ENERGY INCLUDING FUELS, AS DETERMINED BY THE DEPARTMENT
OF ENVIRONMENTAL CONSERVATION WITH THE NEW YORK  STATE  ENERGY  RESEARCH
AND DEVELOPMENT AUTHORITY;
  (B)  "CLEAN-FUELED VEHICLE" SHALL MEAN ANY MOTOR VEHICLE AS DEFINED IN
SECTION ONE HUNDRED TWENTY-FIVE OF THE VEHICLE  AND  TRAFFIC  LAW,  THAT
USES  ELECTRICITY,  INCLUDING  ELECTRICITY  EITHER  STORED  OR GENERATED
ON-BOARD, AS ITS PRIMARY MOTIVE FORCE, OR THAT IS FUELED BY NATURAL GAS,
PROPANE, HYDROGEN OR ANY OTHER NON-CARBON PRODUCING FUEL;
  (C) "ENERGY EFFICIENCY  TECHNOLOGIES"  SHALL  MEAN  TECHNOLOGIES  THAT
REDUCE  THE CONSUMPTION OF ELECTRICITY INCLUDING BUT NOT LIMITED TO: (I)
REPLACEMENT OF INEFFICIENT LIGHTING FIXTURES; (II) APPLIANCES AND EQUIP-

S. 3837                             3

MENT THAT MEET ENERGY EFFICIENCY PERFORMANCE STANDARDS AS IDENTIFIED  IN
ARTICLE  SIXTEEN  OF  THE ENERGY LAW; AND (III) OTHER SUCH MEASURES THAT
WILL REDUCE THE DEMAND FOR AND/OR CONSUMPTION OF ELECTRICITY  AS  DETER-
MINED BY THE NEW YORK STATE ENERGY AND RESEARCH DEVELOPMENT AUTHORITY;
  (D) "RENEWABLE ENERGY DEVELOPMENT" SHALL MEAN THE PURCHASE AND INSTAL-
LATION  OF  TECHNOLOGIES DESIGNED TO CONVERT RENEWABLE ENERGY INTO ELEC-
TRICITY OR OTHER END USES, WHERE RENEWABLE ENERGY SHALL  MEAN  RENEWABLE
ENERGY  RESOURCES  AS  DEFINED IN SUBDIVISION TWELVE OF SECTION 1-103 OF
THE ENERGY LAW;
  (E) "GREEN SERVICE AND REPAIR"  SHALL  MEAN  ANY  COMPANY  THAT  DEALS
PRIMARILY  WITH THE PROVISION OF SERVICES TO OTHER COMPANIES OR INDIVID-
UALS IN A SUSTAINABLE OR ENERGY  EFFICIENT  MANNER.  GREEN  SERVICE  AND
REPAIR  COMPANIES  INCLUDE,  BUT ARE NOT LIMITED TO, THOSE OFFERING SUCH
SERVICES AS GREEN ROOFING, LEED CERTIFICATION AND  INSPECTION  SERVICES,
THE GREEN BUILDING INITIATIVE'S GREEN GLOBES SYSTEM, USE AND SALE OF LOW
VOC  PAINTS,  LOW  ENERGY RADIANT FLOORING, WHITE, COATED, OR GREEN ROOF
INSTALLATION, RECOVERY AND RECYCLING PROCESSING, REPLACEMENT OF  INEFFI-
CIENT  TECHNOLOGIES,  CLEAN-FUEL  VEHICLE SALES AND REPAIR, COGENERATION
TECHNOLOGY INSTALLATION AND REPAIR; AND
  (F) "GREEN RESEARCH AND DEVELOPMENT" SHALL MEAN ANY ENTITY THAT  WORKS
PRIMARILY TO DISCOVER NEW KNOWLEDGE ABOUT GREEN PRODUCTS, PROCESSES, AND
SERVICES,  AND  THEN  APPLIES  THAT KNOWLEDGE TO CREATE NEW AND IMPROVED
GREEN PRODUCTS, PROCESSES, AND SERVICES THAT FILL  MARKET  NEEDS.  GREEN
RESEARCH  AND  DEVELOPMENT  PROJECTS  INCLUDE,  BUT  ARE NOT LIMITED TO,
STUDIES INVOLVING IMPROVEMENTS TO RENEWABLE ENERGY TECHNOLOGY, SUSTAINA-
BLE FARMING OR LANDSCAPING PROCESSES, WATER  CONSERVATION  TECHNOLOGIES,
ENERGY EFFICIENCY TECHNOLOGY IMPROVEMENTS, ALTERNATIVE FUEL DEVELOPMENT,
COST-BENEFIT ANALYSES OF SUSTAINABLE PRACTICES, ENERGY RETURN ON INVEST-
MENT, GREEN EDUCATION OUTREACH, AND URBAN SUSTAINABILITY PRACTICES.
  (D)  "COMMISSIONER"  SHALL  MEAN THE COMMISSIONER OF ECONOMIC DEVELOP-
MENT.
  (E) "GREEN ZONE" SHALL MEAN THE AREA OF STATEN ISLAND DEFINED  BY  THE
FOLLOWING  AREA  BASED  ON THE NEW YORK CITY DEPARTMENT OF CITY PLANNING
ZONING MAPS: BEGINNING AT THE INTERSECTION OF THE NORTH SIDE OF THE FOOT
OF THE GOETHALS BRIDGES AND THE US PIERHEAD AND  BULKHEAD  LINE;  THENCE
RUNNING  EASTERLY  3,214.78 FEET ALONG AND PARALLEL TO NORTH SIDE OF THE
GOETHALS BRIDGE EXTENSION TO THE CENTERLINE OF  WESTERN  AVENUE;  THENCE
RUNNING  NORTH  93.71  FEET  TO  THE CENTER LINE OF GOETHALS ROAD NORTH;
THENCE RUNNING EAST 5,909.12 FEET ALONG AND PARALLEL TO THE  SOUTH  SIDE
OF  GOETHALS  ROAD  NORTH  TO CENTERLINE OF SOUTH AVENUE; THENCE RUNNING
SOUTH 433.81 FEET ALONG AND PARALLEL THE WEST SIDE OF  SOUTH  AVENUE  TO
THE  CENTERLINE  OF  FAHEY AVENUE; THENCE RUNNING EAST 424.89 FEET ALONG
AND PARALLEL TO THE SOUTH SIDE OF FAHEY  AVENUE  TO  THE  CENTERLINE  OF
FELTON STREET; THENCE RUNNING SOUTH 1,314.02 FEET ALONG AND PARALLEL THE
WEST  SIDE  OF  FELTON STREET TO THE CENTERLINE OF LAMBERTS LANE; THENCE
RUNNING SOUTH 790.62 ALONG THE FELTON STREET LINE TO THE INTERSECTION OF
GRAHAM AVENUE AND LANDER AVENUE;  THENCE  RUNNING  SOUTH  3,413.10  FEET
ALONG  AND  PARALLEL TO THE WEST SIDE OF GRAHAM AVENUE TO THE CENTERLINE
OF VICTORY BOULEVARD; THENCE RUNNING SOUTHEAST 3,114.21 ALONG  THE  WEST
SIDE  OF  VICTORY  BOULEVARD  TO THE CENTERLINE OF TRAVIS AVENUE; THENCE
RUNNING EAST 5,030.20 FEET ALONG AND PARALLEL THE SOUTH SIDE  OF  TRAVIS
AVENUE  TO  THE  CENTERLINE  OF  RICHMOND  AVENUE;  THENCE RUNNING SOUTH
12,265.02 ALONG AND PARALLEL TO THE WEST SIDE OF RICHMOND AVENUE TO  THE
CENTERLINE OF ARTHUR KILL ROAD; THENCE RUNNING WEST 27,432.19 FEET ALONG
AND  PARALLEL  THE NORTH SIDE OF ARTHUR KILL ROAD TO THE INTERSECTION OF
ARTHUR KILL ROAD AND KREISCHER ST.; THENCE RUNNING 992.60  FEET  TO  THE

S. 3837                             4

INTERSECTION  OF ANDROVETTE STREET; AND PARALLEL TO THE EAST SIDE OF THE
US PIERHEAD AND BULKHEAD LINE TO THE POINT AND PLACE OF THE BEGINNING.
  S 974-C. RESPONSIBILITIES OF THE COMMISSIONER. THE COMMISSIONER SHALL:
  (A)  PROMULGATE  REGULATIONS, IN CONSULTATION WITH THE COMMISSIONER OF
LABOR, FOR PROGRAM EVALUATION AND COORDINATE IMPLEMENTATION OF AN EVALU-
ATION SYSTEM, WHICH IS CAPABLE OF COMPILING AND ANALYZING  ACCURATE  AND
CONSISTENT  INFORMATION NECESSARY FOR AN ASSESSMENT OF WHETHER STATUTORY
OBJECTIVES AND CRITERIA ARE BEING MET;
  (B) DESIGNATE BUSINESSES AS MEETING THE CRITERIA OF A GREEN  BUSINESS;
AND
  (C) REVIEW PERFORMANCE OBJECTIVES AND PROGRESS IN MEETING OBJECTIVES.
  S  3. Section 210-B of the tax law is amended by adding a new subdivi-
sion 49 to read as follows:
  49. GREEN ZONE TAX  REDUCTION  CREDIT.  (A)  ALLOWANCE  OF  CREDIT.  A
TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS CHAP-
TER.  SUCH  CREDIT,  TO  BE  COMPUTED  AS HEREINAFTER PROVIDED, SHALL BE
ALLOWED FOR A QUALIFIED GREEN BUSINESS WITHIN A GREEN ZONE,  OR  A  SOLE
PROPRIETOR OF A QUALIFIED GREEN BUSINESS WITHIN A GREEN ZONE OR A MEMBER
OF  A  PARTNERSHIP  WHICH  IS  A QUALIFIED GREEN BUSINESS WITHIN A GREEN
ZONE.
  (B) AMOUNT OF CREDIT. THE AMOUNT  OF  THE  CREDIT  FOR  TAXABLE  YEARS
BEGINNING  ON  OR  AFTER  JANUARY  FIRST, TWO THOUSAND SIXTEEN, SHALL BE
COMPUTED AT THIRTY PERCENT FOR EACH DOLLAR OF THE TOTAL BUSINESS AND ONE
HUNDRED PERCENT OF NEW CONSTRUCTION RELATED TO  THE  BUSINESS  OPERATION
SITE  OF  THE QUALIFYING COMPANY AND/OR IMPROVEMENTS EQUAL TO OR GREATER
THAN TWENTY PERCENT OF THE TAXABLE ASSESSED VALUE OF  THE  PROPERTY  FOR
EXISTING SITES BEING IMPROVED. THIS IS A NON-REFUNDABLE TAX CREDIT WHICH
IF NOT USED BY THE TAXPAYER IN TAX YEAR ONE CAN BE USED IN TAX YEAR TWO.
NO ADDITIONAL TIME MAY BE ADDED TO PERIOD OF USE.
  S  4. Subparagraph (B) of paragraph 1 of subsection (i) of section 606
of the tax law is amended by adding  a  new  clause  (xli)  to  read  as
follows:
(XLI) GREEN ZONE TAX REDUCTION                 AMOUNT OF CREDIT UNDER
CREDIT UNDER SUBSECTION                        SUBDIVISION FORTY-NINE OF
(CCC)                                          SECTION TWO HUNDRED TEN-B
  S  5. Section 606 of the tax law is amended by adding a new subsection
(ccc) to read as follows:
  (CCC) GREEN ZONE TAX REDUCTION CREDIT. (1) A TAXPAYER SHALL BE ALLOWED
A CREDIT, TO BE  COMPUTED  AS  HEREINAFTER  PROVIDED,  AGAINST  THE  TAX
IMPOSED  BY  THIS ARTICLE, WHERE THE TAXPAYER IS A QUALIFIED GREEN BUSI-
NESS WITHIN A GREEN ZONE, OR A SOLE  PROPRIETOR  OF  A  QUALIFIED  GREEN
BUSINESS  WITHIN  A  GREEN  ZONE OR A MEMBER OF A PARTNERSHIP WHICH IS A
QUALIFIED GREEN BUSINESS WITHIN A GREEN ZONE.
  (2) AMOUNT OF CREDIT. THE AMOUNT  OF  THE  CREDIT  FOR  TAXABLE  YEARS
BEGINNING  ON  OR  AFTER  JANUARY  FIRST, TWO THOUSAND SIXTEEN, SHALL BE
COMPUTED AT THIRTY PERCENT FOR EACH DOLLAR OF THE TOTAL BUSINESS AND ONE
HUNDRED PERCENT OF NEW CONSTRUCTION RELATED TO  THE  BUSINESS  OPERATION
SITE  OF  THE QUALIFYING COMPANY AND/OR IMPROVEMENTS EQUAL TO OR GREATER
THAN TWENTY PERCENT OF THE TAXABLE ASSESSED VALUE OF  THE  PROPERTY  FOR
EXISTING  SITES  BEING  IMPROVED.   THIS CREDIT MAY ONLY BE TAKEN BY THE
TAXPAYER IN ONE TAX YEAR AND ONCE USED MAY NOT BE USED AGAIN.
  S 6. Section 1511 of the tax law is amended by adding a  new  subdivi-
sion (dd) to read as follows:
  (DD)  GREEN ZONE TAX REDUCTION CREDIT. (1) A TAXPAYER SHALL BE ALLOWED
A CREDIT, TO BE  COMPUTED  AS  HEREINAFTER  PROVIDED,  AGAINST  THE  TAX
IMPOSED  BY  THIS ARTICLE, WHERE THE TAXPAYER IS A QUALIFIED GREEN BUSI-

S. 3837                             5

NESS WITHIN A GREEN ZONE, OR A SOLE  PROPRIETOR  OF  A  QUALIFIED  GREEN
BUSINESS  WITHIN  A  GREEN  ZONE OR A MEMBER OF A PARTNERSHIP WHICH IS A
QUALIFIED GREEN BUSINESS WITHIN A GREEN ZONE.
  (2)  AMOUNT  OF  CREDIT.  THE  AMOUNT  OF THE CREDIT FOR TAXABLE YEARS
BEGINNING ON OR AFTER JANUARY FIRST,  TWO  THOUSAND  SIXTEEN,  SHALL  BE
COMPUTED AT THIRTY PERCENT FOR EACH DOLLAR OF THE TOTAL BUSINESS AND ONE
HUNDRED  PERCENT  OF  NEW CONSTRUCTION RELATED TO THE BUSINESS OPERATION
SITE OF THE QUALIFYING COMPANY AND/OR IMPROVEMENTS EQUAL TO  OR  GREATER
THAN  TWENTY  PERCENT  OF THE TAXABLE ASSESSED VALUE OF THE PROPERTY FOR
EXISTING SITES BEING IMPROVED.  THIS CREDIT MAY ONLY  BE  TAKEN  BY  THE
TAXPAYER IN ONE TAX YEAR AND ONCE USED MAY NOT BE USED AGAIN.
  S 7. This act shall take effect immediately.

2015-S3837A (ACTIVE) - Details

Current Committee:: Senate Local Government
Law Section:: General Municipal Law
Laws Affected:: Add Art 18-D §§974 - 974-c, Gen Muni L; amd §§210-B, 606 & 1511, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S5491
2013-2014: S2471

2015-S3837A (ACTIVE) - Summary

2015-S3837A (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S3837A

 TITLE OF BILL :

An act to amend the general municipal law and the tax law, in relation
to enacting the New York state green economic development zones act

 PURPOSE OR GENERAL IDEA OF BILL :

This legislation would create the Green Enterprise Trade Zone, which
is a designated area in the commercial and/or industrial zoned area of
Staten Island. It would attract companies producing goods and services
for the Green Environmental Standards that government is mandating and
leverage green business strategies and green technology, with
investment tax credits to accelerate investment in our City and State
green tech and clean tech developing industries.

 SUMMARY OF SPECIFIC PROVISIONS :

Section 1 of this bill states the name of the act.

Section 2 of this bill establishes the types of green businesses that
are covered under the act and establishes the Green Zone location
within Staten Island. It also grants the commissioner of economic
development the authority to establish rules and regulations.

Section 3 amends Section 210 of the tax law to allow for a thirty
percent credit of any business or investment capital spent by a
qualifying business within the Green Zone.

Sections 4 and 5 amend Section 616 of the tax law to allow for a
thirty percent credit of any business or investment capital spent by a
qualifying business within the Green Zone.

Section 6 amends Section 1456 of the tax law to allow for a thirty
percent credit of any business or investment capital spent by a
qualifying business within the Green Zone.

Section 7 amends Section 1511 of the tax law to allow for a thirty
percent credit of any business or investment capital spent by a
qualifying business within the Green Zone.

Section 8 states that the law shall take effect immediately.

 JUSTIFICATION :

The NYC Regional Council designated the Staten Island Green Zone as
one of eight priority projects for the City of New York in its January
2012 report to the Governor. In addition, the Regional Council also
designated the West Shore of Staten Island, which is home to the
proposed Green Zone, as an "Opportunity Zone" meaning special
attention from Staten funding agencies should be given to this region,
including funding through the Excelsior Tax Credit program. The
Federal Economic Development Administration recently awarded the
Staten Island Economic Development Corporation $120,000 grant to study
the proposed Green Zone.

The Green Zone is a geographically designated area of Staten Island
aimed at attracting companies that produce Green goods and services,
or who utilize Green technology. The Green Zone attracts companies who
work within the sphere of smart growth and environmentally friendly
development and research. The Green Zone acts as a "go to place" for
the entrepreneur who is prepared to put their technology into
production and the market. Staten Island has a rich history of
manufacturing and industrial production and a strong base for skilled
labor. Advances in Green technology allow for increased and
diversified employment and production on Staten Island. Businesses
that take measurable steps in increasing energy and material
efficiency will be the standard-bearers for increased Green
initiatives throughout the region. The Green Zone and the initiatives
of Green Zone companies will educate local companies and residents
about the Green economy. This education and availability of resources
will allow for efficiency retrofits, professional support and guidance
for companies seeking financial incentives for Green investment,
promote Green Collar job retraining options, improve alternative
energy development, and attract Green businesses that create
sustainable employment opportunities for Islanders.

A Green Enterprise Trade Zone is not unlike a Foreign Trade Zone. The
concept of a Foreign Trade Zone has been part of our economic scheme
since the 1930's. It exempted from tax, merchandise entering and
leaving the Foreign Trade Zone, promotes trade and economic
development.

This legislation proposes to establish a Green enterprise Zone to
encourage and develop the green technologies necessary to slow the
outflow of our U.S. dollars to purchase foreign oil, to protect our
environment by encouraging the adoption of green business strategies
and the production of green technology thus creating an area where the
investment community can focus on green product development, as well
as an area where green products can be manufactured. This zone will
establish a location where companies focusing on green economic
development can come together to individually and jointly spur
development of a more green state.

Most importantly, the Green Zone Act will provide a tax credit for the
businesses that invest within it, providing an incentive to relocate
within the zone and create the synergies of locating in a common area.

 PRIOR LEGISLATIVE HISTORY :

2015: S.3837 - Referred to Local Government
2014: S.2471 - Referred to Local Government /A.128 - Reported to Ways
& Means
2013: S.2471 - Referred to Local Government /A.128 - Reported to Ways
& Means
2012: S.5494 - Reported to Finance/A.2219 - Held in Ways and Means

 FISCAL IMPLICATIONS :

To be determined.

 EFFECTIVE DATE :
This act shall take effect immediately.

2015-S3837A (ACTIVE) - Bill Text download pdf

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

                                 3837--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 20, 2015
                               ___________

Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government -- recom-
  mitted to the Committee on Local Government 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 general municipal law and the tax law,  in  relation
  to enacting the New York state green economic development zones 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 "New York state green economic development zones act".
  S 2. The general municipal law is amended by adding a new article 18-D
to read as follows:
                               ARTICLE 18-D
                    GREEN ECONOMIC DEVELOPMENT ZONES

SECTION 974. SHORT TITLE.
        974-A. LEGISLATIVE FINDINGS AND DECLARATION.
        974-B. DEFINITIONS.
        974-C. RESPONSIBILITIES OF THE COMMISSIONER.
  S  974.   SHORT TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS
THE "NEW YORK STATE GREEN ECONOMIC DEVELOPMENT ZONES ACT".
  S 974-A.  LEGISLATIVE FINDINGS AND DECLARATION.   IT IS  HEREBY  FOUND
AND  DECLARED  THAT  THERE EXISTS WITHIN THE STATE THE NEED TO STIMULATE
EMPLOYMENT AND MORE EFFICIENT TRANSPORTATION BY UTILIZING  THE  EMERGING
GREEN TECHNOLOGY THAT WILL REDUCE THE OUTPUT OF CARBON IN THE ATMOSPHERE
OF  THE  STATE,  IMPROVE  THE  STATE'S ENVIRONMENTAL QUALITY OF LIFE AND
GENERAL HEALTH OF THE RESIDENTS. THIS NEED REQUIRES THE STATE GOVERNMENT
TO TARGET AREAS FOR EXTRAORDINARY ECONOMIC DEVELOPMENT PROGRAMS IN ORDER
TO STIMULATE PRIVATE INVESTMENT, PRIVATE BUSINESS  DEVELOPMENT  AND  JOB
CREATION.  IT  IS THE PUBLIC POLICY OF THE STATE TO OFFER SPECIAL INCEN-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01033-02-6

S. 3837--A                          2

TIVES AND ASSISTANCE THAT WILL PROMOTE  THE  DEVELOPMENT  OF  NEW  GREEN
BUSINESSES AND THE EXPANSION OF EXISTING BUSINESSES WITHIN PRE-DESIGNAT-
ED  AREAS  AND  TO  DO SO WITHOUT ENCOURAGING THE RELOCATION OF BUSINESS
INVESTMENT  FROM  OTHER  AREAS  OF  THE  STATE.  IT IS FURTHER FOUND AND
DECLARED THAT IT IS THE PUBLIC POLICY OF  THE  STATE  TO  ACHIEVE  THESE
GOALS  THROUGH  THE  MUTUAL COOPERATION OF ALL LEVELS OF STATE AND LOCAL
GOVERNMENT AND THE BUSINESS COMMUNITY.  STATEN ISLAND FACES  UNIQUE  AND
SERIOUS  ECONOMIC  DEVELOPMENT  ISSUES THAT ARE NOT ENCOUNTERED BY OTHER
COMPARABLE COUNTIES AND MUNICIPALITIES IN THE REGION. THESE INCLUDE  THE
COST OF TRANSPORTATION DUE TO DISTANCE, TOLLS AND TRAFFIC AS WELL AS THE
LIMITED  DEVELOPMENT  OPPORTUNITIES BECAUSE OF WETLANDS AND BROWNFIELDS.
SPECIAL ASSISTANCE  THROUGH  TAX  BENEFITS  IS  REQUIRED  TO  ALLOW  THE
PROPOSED AREA TO BE COMPETITIVE WITHIN THE REGION.
  S  974-B.  DEFINITIONS.  AS  USED IN THIS ARTICLE, THE FOLLOWING TERMS
SHALL HAVE THE FOLLOWING MEANINGS  UNLESS  THE  CONTEXT  SHALL  INDICATE
ANOTHER OR DIFFERENT MEANING OR INTENT:
  (A)  "APPLICANT"  SHALL MEAN THE COUNTY, CITY, TOWN OR VILLAGE SUBMIT-
TING AN APPLICATION IN THE MANNER AUTHORIZED BY  LOCAL  LAW  FOR  DESIG-
NATION OF AN AREA AS A GREEN ECONOMIC DEVELOPMENT ZONE.
  (B)  "ENTERPRISE"  SHALL MEAN A BUSINESS ENTERPRISE THAT IS AUTHORIZED
TO DO BUSINESS IN THIS STATE AND IS INDEPENDENTLY OWNED AND OPERATED AND
FOUND TO COMPLY WITH GREEN ECONOMIC DEVELOPMENT ZONE CRITERIA.
  (C) "GREEN BUSINESS" SHALL MEAN A BUSINESS THAT PRIMARILY OPERATES  IN
ONE OR MORE OF THREE AREAS: PRODUCTION, SERVICE AND REPAIR, AND RESEARCH
AND DEVELOPMENT.  A GREEN PRODUCTION COMPANY IS A COMPANY DEALING PRIMA-
RILY  WITH THE MANUFACTURING AND DISTRIBUTION OF ENERGY EFFICIENCY TECH-
NOLOGIES AND  GREENHOUSE  GAS  EMISSION  REDUCTION  TECHNOLOGIES.  GREEN
PRODUCTION  COMPANIES INCLUDE, BUT ARE NOT LIMITED TO, BIO FUEL DEVELOP-
MENT, SOLAR PANEL PRODUCTION OR ASSEMBLY,  WIND  TURBINE  PRODUCTION  OR
ASSEMBLY,  CARBON  CAPTURE  AND  STORAGE MECHANISM, CLEAN FUEL VEHICLES,
RENEWABLE ENERGY DEVELOPMENT, OR ENERGY EFFICIENCY  TECHNOLOGIES.  GREEN
PRODUCTION  SHALL ALSO INCLUDE, BUT SHALL NOT BE LIMITED TO, THE FOLLOW-
ING:  (1) GREENHOUSE EMISSION REDUCTION TECHNOLOGIES; (2)  THE  ASSEMBLY
OF  ESSENTIAL COMPONENTS FOR A CLEAN-FUELED VEHICLE; OR (3) ENERGY EFFI-
CIENCY TECHNOLOGIES; WHERE
  (A) "GREENHOUSE GAS EMISSION REDUCTION TECHNOLOGIES"  SHALL  MEAN  AND
INCLUDE,  BUT  NOT  BE  LIMITED TO: (I) COGENERATION TECHNOLOGIES, WHICH
SHALL MEAN ANY ONE OF THE SEVERAL TECHNOLOGIES WHEREIN WASTE  HEAT  FROM
ON-SITE ELECTRICAL GENERATION PROCESSES IS RECOVERED TO PROVIDE STEAM OR
HOT WATER TO MEET ON-SITE NEEDS, SUCH AS HEATING AND/OR AIR CONDITIONING
AND  WHICH  ATTAINS  OVERALL  SYSTEM  EFFICIENCY  AS  ESTABLISHED BY THE
DEPARTMENT OF ENVIRONMENTAL CONSERVATION, CONSIDERING BOTH  THERMAL  AND
ELECTRICAL  PROCESSES TOGETHER; (II) FURNACE AND BOILER REPLACEMENTS AND
RETROFITS, PROVIDED THAT THE NEW OR  RETROFITTED  FURNACES  AND  BOILERS
SHALL NOT AT ANY TIME OPERATE ON DIESEL FUEL WITH SULFUR CONTENT GREATER
THAN  0.05 PERCENT BY WEIGHT; (III) THE PRODUCTION OF CLEAN-FUELED VEHI-
CLES OR THE CONVERSION OF EXISTING VEHICLES  TO  CLEAN-FUELED  VEHICLES;
AND  (IV)  OTHER  MEASURES  THAT  WILL  REDUCE THE DEMAND FOR AND/OR THE
CONSUMPTION OF ENERGY INCLUDING FUELS, AS DETERMINED BY  THE  DEPARTMENT
OF  ENVIRONMENTAL  CONSERVATION  WITH THE NEW YORK STATE ENERGY RESEARCH
AND DEVELOPMENT AUTHORITY;
  (B) "CLEAN-FUELED VEHICLE" SHALL MEAN ANY MOTOR VEHICLE AS DEFINED  IN
SECTION  ONE  HUNDRED  TWENTY-FIVE  OF THE VEHICLE AND TRAFFIC LAW, THAT
USES ELECTRICITY,  INCLUDING  ELECTRICITY  EITHER  STORED  OR  GENERATED
ON-BOARD, AS ITS PRIMARY MOTIVE FORCE, OR THAT IS FUELED BY NATURAL GAS,
PROPANE, HYDROGEN OR ANY OTHER NON-CARBON PRODUCING FUEL;

S. 3837--A                          3

  (C)  "ENERGY  EFFICIENCY  TECHNOLOGIES"  SHALL  MEAN TECHNOLOGIES THAT
REDUCE THE CONSUMPTION OF ELECTRICITY INCLUDING BUT NOT LIMITED TO:  (I)
REPLACEMENT OF INEFFICIENT LIGHTING FIXTURES; (II) APPLIANCES AND EQUIP-
MENT  THAT MEET ENERGY EFFICIENCY PERFORMANCE STANDARDS AS IDENTIFIED IN
ARTICLE  SIXTEEN  OF  THE ENERGY LAW; AND (III) OTHER SUCH MEASURES THAT
WILL REDUCE THE DEMAND FOR AND/OR CONSUMPTION OF ELECTRICITY  AS  DETER-
MINED BY THE NEW YORK STATE ENERGY AND RESEARCH DEVELOPMENT AUTHORITY;
  (D) "RENEWABLE ENERGY DEVELOPMENT" SHALL MEAN THE PURCHASE AND INSTAL-
LATION  OF  TECHNOLOGIES DESIGNED TO CONVERT RENEWABLE ENERGY INTO ELEC-
TRICITY OR OTHER END USES, WHERE RENEWABLE ENERGY SHALL  MEAN  RENEWABLE
ENERGY  RESOURCES  AS  DEFINED IN SUBDIVISION TWELVE OF SECTION 1-103 OF
THE ENERGY LAW;
  (E) "GREEN SERVICE AND REPAIR"  SHALL  MEAN  ANY  COMPANY  THAT  DEALS
PRIMARILY  WITH THE PROVISION OF SERVICES TO OTHER COMPANIES OR INDIVID-
UALS IN A SUSTAINABLE OR ENERGY  EFFICIENT  MANNER.  GREEN  SERVICE  AND
REPAIR  COMPANIES  INCLUDE,  BUT ARE NOT LIMITED TO, THOSE OFFERING SUCH
SERVICES AS GREEN ROOFING, LEED CERTIFICATION AND  INSPECTION  SERVICES,
THE GREEN BUILDING INITIATIVE'S GREEN GLOBES SYSTEM, USE AND SALE OF LOW
VOC  PAINTS,  LOW  ENERGY RADIANT FLOORING, WHITE, COATED, OR GREEN ROOF
INSTALLATION, RECOVERY AND RECYCLING PROCESSING, REPLACEMENT OF  INEFFI-
CIENT  TECHNOLOGIES,  CLEAN-FUEL  VEHICLE SALES AND REPAIR, COGENERATION
TECHNOLOGY INSTALLATION AND REPAIR; AND
  (F) "GREEN RESEARCH AND DEVELOPMENT" SHALL MEAN ANY ENTITY THAT  WORKS
PRIMARILY TO DISCOVER NEW KNOWLEDGE ABOUT GREEN PRODUCTS, PROCESSES, AND
SERVICES,  AND  THEN  APPLIES  THAT KNOWLEDGE TO CREATE NEW AND IMPROVED
GREEN PRODUCTS, PROCESSES, AND SERVICES THAT FILL  MARKET  NEEDS.  GREEN
RESEARCH  AND  DEVELOPMENT  PROJECTS  INCLUDE,  BUT  ARE NOT LIMITED TO,
STUDIES INVOLVING IMPROVEMENTS TO RENEWABLE ENERGY TECHNOLOGY, SUSTAINA-
BLE FARMING OR LANDSCAPING PROCESSES, WATER  CONSERVATION  TECHNOLOGIES,
ENERGY EFFICIENCY TECHNOLOGY IMPROVEMENTS, ALTERNATIVE FUEL DEVELOPMENT,
COST-BENEFIT ANALYSES OF SUSTAINABLE PRACTICES, ENERGY RETURN ON INVEST-
MENT, GREEN EDUCATION OUTREACH, AND URBAN SUSTAINABILITY PRACTICES.
  (D)  "COMMISSIONER"  SHALL  MEAN THE COMMISSIONER OF ECONOMIC DEVELOP-
MENT.
  (E) "GREEN ZONE" SHALL MEAN THE AREA OF STATEN ISLAND DEFINED  BY  THE
FOLLOWING  AREA  BASED  ON THE NEW YORK CITY DEPARTMENT OF CITY PLANNING
ZONING MAPS: BEGINNING AT THE INTERSECTION OF THE NORTH SIDE OF THE FOOT
OF THE GOETHALS BRIDGES AND THE US PIERHEAD AND  BULKHEAD  LINE;  THENCE
RUNNING  EASTERLY  3,214.78 FEET ALONG AND PARALLEL TO NORTH SIDE OF THE
GOETHALS BRIDGE EXTENSION TO THE CENTERLINE OF  WESTERN  AVENUE;  THENCE
RUNNING  NORTH  93.71  FEET  TO  THE CENTER LINE OF GOETHALS ROAD NORTH;
THENCE RUNNING EAST 5,909.12 FEET ALONG AND PARALLEL TO THE  SOUTH  SIDE
OF  GOETHALS  ROAD  NORTH  TO CENTERLINE OF SOUTH AVENUE; THENCE RUNNING
SOUTH 433.81 FEET ALONG AND PARALLEL THE WEST SIDE OF  SOUTH  AVENUE  TO
THE  CENTERLINE  OF  FAHEY AVENUE; THENCE RUNNING EAST 424.89 FEET ALONG
AND PARALLEL TO THE SOUTH SIDE OF FAHEY  AVENUE  TO  THE  CENTERLINE  OF
FELTON STREET; THENCE RUNNING SOUTH 1,314.02 FEET ALONG AND PARALLEL THE
WEST  SIDE  OF  FELTON STREET TO THE CENTERLINE OF LAMBERTS LANE; THENCE
RUNNING SOUTH 790.62 ALONG THE FELTON STREET LINE TO THE INTERSECTION OF
GRAHAM AVENUE AND LANDER AVENUE;  THENCE  RUNNING  SOUTH  3,413.10  FEET
ALONG  AND  PARALLEL TO THE WEST SIDE OF GRAHAM AVENUE TO THE CENTERLINE
OF VICTORY BOULEVARD; THENCE RUNNING SOUTHEAST 3,114.21 ALONG  THE  WEST
SIDE  OF  VICTORY  BOULEVARD  TO THE CENTERLINE OF TRAVIS AVENUE; THENCE
RUNNING EAST 5,030.20 FEET ALONG AND PARALLEL THE SOUTH SIDE  OF  TRAVIS
AVENUE  TO  THE  CENTERLINE  OF  RICHMOND  AVENUE;  THENCE RUNNING SOUTH
12,265.02 ALONG AND PARALLEL TO THE WEST SIDE OF RICHMOND AVENUE TO  THE

S. 3837--A                          4

CENTERLINE OF ARTHUR KILL ROAD; THENCE RUNNING WEST 27,432.19 FEET ALONG
AND  PARALLEL  THE NORTH SIDE OF ARTHUR KILL ROAD TO THE INTERSECTION OF
ARTHUR KILL ROAD AND KREISCHER ST.; THENCE RUNNING 992.60  FEET  TO  THE
INTERSECTION  OF ANDROVETTE STREET; AND PARALLEL TO THE EAST SIDE OF THE
US PIERHEAD AND BULKHEAD LINE TO THE POINT AND PLACE OF THE BEGINNING.
  S 974-C. RESPONSIBILITIES OF THE COMMISSIONER. THE COMMISSIONER SHALL:
  (A) PROMULGATE REGULATIONS, IN CONSULTATION WITH THE  COMMISSIONER  OF
LABOR, FOR PROGRAM EVALUATION AND COORDINATE IMPLEMENTATION OF AN EVALU-
ATION  SYSTEM,  WHICH IS CAPABLE OF COMPILING AND ANALYZING ACCURATE AND
CONSISTENT INFORMATION NECESSARY FOR AN ASSESSMENT OF WHETHER  STATUTORY
OBJECTIVES AND CRITERIA ARE BEING MET;
  (B)  DESIGNATE BUSINESSES AS MEETING THE CRITERIA OF A GREEN BUSINESS;
AND
  (C) REVIEW PERFORMANCE OBJECTIVES AND PROGRESS IN MEETING OBJECTIVES.
  S 3. Section 210-B of the tax law is amended by adding a new  subdivi-
sion 49 to read as follows:
  49.  GREEN  ZONE  TAX  REDUCTION  CREDIT.  (A)  ALLOWANCE OF CREDIT. A
TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS CHAP-
TER. SUCH CREDIT, TO BE  COMPUTED  AS  HEREINAFTER  PROVIDED,  SHALL  BE
ALLOWED  FOR  A  QUALIFIED GREEN BUSINESS WITHIN A GREEN ZONE, OR A SOLE
PROPRIETOR OF A QUALIFIED GREEN BUSINESS WITHIN A GREEN ZONE OR A MEMBER
OF A PARTNERSHIP WHICH IS A QUALIFIED  GREEN  BUSINESS  WITHIN  A  GREEN
ZONE.
  (B)  AMOUNT  OF  CREDIT.  THE  AMOUNT  OF THE CREDIT FOR TAXABLE YEARS
BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND  SEVENTEEN,  SHALL  BE
COMPUTED AT THIRTY PERCENT FOR EACH DOLLAR OF THE TOTAL BUSINESS AND ONE
HUNDRED  PERCENT  OF  NEW CONSTRUCTION RELATED TO THE BUSINESS OPERATION
SITE OF THE QUALIFYING COMPANY AND/OR IMPROVEMENTS EQUAL TO  OR  GREATER
THAN  TWENTY  PERCENT  OF THE TAXABLE ASSESSED VALUE OF THE PROPERTY FOR
EXISTING SITES BEING IMPROVED. THIS IS A NON-REFUNDABLE TAX CREDIT WHICH
IF NOT USED BY THE TAXPAYER IN TAX YEAR ONE CAN BE USED IN TAX YEAR TWO.
NO ADDITIONAL TIME MAY BE ADDED TO PERIOD OF USE.
  S 4. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
of  the  tax  law  is  amended  by  adding a new clause (xli) to read as
follows:
(XLI) GREEN ZONE TAX REDUCTION                 AMOUNT OF CREDIT UNDER
CREDIT UNDER SUBSECTION                        SUBDIVISION FORTY-NINE OF
(CCC)                                          SECTION TWO HUNDRED TEN-B
  S 5. Section 606 of the tax law is amended by adding a new  subsection
(ccc) to read as follows:
  (CCC) GREEN ZONE TAX REDUCTION CREDIT. (1) A TAXPAYER SHALL BE ALLOWED
A  CREDIT,  TO  BE  COMPUTED  AS  HEREINAFTER  PROVIDED, AGAINST THE TAX
IMPOSED BY THIS ARTICLE, WHERE THE TAXPAYER IS A QUALIFIED  GREEN  BUSI-
NESS  WITHIN  A  GREEN  ZONE,  OR A SOLE PROPRIETOR OF A QUALIFIED GREEN
BUSINESS WITHIN A GREEN ZONE OR A MEMBER OF A  PARTNERSHIP  WHICH  IS  A
QUALIFIED GREEN BUSINESS WITHIN A GREEN ZONE.
  (2)  AMOUNT  OF  CREDIT.  THE  AMOUNT  OF THE CREDIT FOR TAXABLE YEARS
BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND  SEVENTEEN,  SHALL  BE
COMPUTED AT THIRTY PERCENT FOR EACH DOLLAR OF THE TOTAL BUSINESS AND ONE
HUNDRED  PERCENT  OF  NEW CONSTRUCTION RELATED TO THE BUSINESS OPERATION
SITE OF THE QUALIFYING COMPANY AND/OR IMPROVEMENTS EQUAL TO  OR  GREATER
THAN  TWENTY  PERCENT  OF THE TAXABLE ASSESSED VALUE OF THE PROPERTY FOR
EXISTING SITES BEING IMPROVED.  THIS CREDIT MAY ONLY  BE  TAKEN  BY  THE
TAXPAYER IN ONE TAX YEAR AND ONCE USED MAY NOT BE USED AGAIN.
  S  6.  Section 1511 of the tax law is amended by adding a new subdivi-
sion (dd) to read as follows:

S. 3837--A                          5

  (DD) GREEN ZONE TAX REDUCTION CREDIT. (1) A TAXPAYER SHALL BE  ALLOWED
A  CREDIT,  TO  BE  COMPUTED  AS  HEREINAFTER  PROVIDED, AGAINST THE TAX
IMPOSED BY THIS ARTICLE, WHERE THE TAXPAYER IS A QUALIFIED  GREEN  BUSI-
NESS  WITHIN  A  GREEN  ZONE,  OR A SOLE PROPRIETOR OF A QUALIFIED GREEN
BUSINESS  WITHIN  A  GREEN  ZONE OR A MEMBER OF A PARTNERSHIP WHICH IS A
QUALIFIED GREEN BUSINESS WITHIN A GREEN ZONE.
  (2) AMOUNT OF CREDIT. THE AMOUNT  OF  THE  CREDIT  FOR  TAXABLE  YEARS
BEGINNING  ON  OR  AFTER JANUARY FIRST, TWO THOUSAND SEVENTEEN, SHALL BE
COMPUTED AT THIRTY PERCENT FOR EACH DOLLAR OF THE TOTAL BUSINESS AND ONE
HUNDRED PERCENT OF NEW CONSTRUCTION RELATED TO  THE  BUSINESS  OPERATION
SITE  OF  THE QUALIFYING COMPANY AND/OR IMPROVEMENTS EQUAL TO OR GREATER
THAN TWENTY PERCENT OF THE TAXABLE ASSESSED VALUE OF  THE  PROPERTY  FOR
EXISTING  SITES  BEING  IMPROVED.   THIS CREDIT MAY ONLY BE TAKEN BY THE
TAXPAYER IN ONE TAX YEAR AND ONCE USED MAY NOT BE USED AGAIN.
  S 7. This act shall take effect immediately.

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Sponsored By

Andrew J. Lanza

Archive: Last Bill Status - In Senate Committee Local Government Committee

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