Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 10, 2016 |
referred to commerce, economic development and small business |
Senate Bill S7560
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Commerce, Economic Development And Small Business 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
Actions
2015-S7560 (ACTIVE) - Details
- Current Committee:
- Senate Commerce, Economic Development And Small Business
- Law Section:
- Economic Development Law
- Laws Affected:
- Amd §§400 & 402, Ec Dev L; amd §35, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2017-2018:
S3017
2019-2020: S1226
2021-2022: S2242
2015-S7560 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7560 TITLE OF BILL : An act to amend the economic development law and the tax law, in relation to granting eligibility for the economic transformation and facility redevelopment program tax credit to certain state psychiatric centers with decommissioned or surplus land PURPOSE : To grant eligibility for the economic transformation and facility redevelopment program tax credit to certain state psychiatric centers with decommissioned or surplus land SUMMARY OF PROVISIONS : Section 1 amends § 400(4)(e) of the Economic Development Law to add to the closed facility exception. Section 2 amends § 400(10)(d) of the Economic Development Law to provide that with respect to a closed facility described in paragraph (d) or (e) or subdivision eleven of this section, the economic transformation area shall consist only of the acreage of the closed facility.
2015-S7560 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7560 I N S E N A T E May 10, 2016 ___________ Introduced by Sen. RITCHIE -- read twice and ordered printed, and when printed to be committed to the Committee on Commerce, Economic Devel- opment and Small Business AN ACT to amend the economic development law and the tax law, in relation to granting eligibility for the economic transformation and facility redevelopment program tax credit to certain state psychiatric centers with decommissioned or surplus land THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (e) of subdivision 4 of section 400 of the economic development law, as added by section 1 of part QQ of chapter 60 of the laws of 2016, is amended to read as follows: (e) provided, however that the requirement in paragraph (a) of this subdivision that the participant be a new business shall not apply to a closed facility as defined in paragraph (d) OR (E) of subdivision eleven of this section. S 2. Paragraph (d) of subdivision 10 of section 400 of the economic development law, as added by section 2 of part QQ of chapter 60 of the laws of 2016, is amended to read as follows: (d) Notwithstanding paragraph (b) of this subdivision, with respect to a closed facility described in paragraph (d) OR (E) of subdivision elev- en of this section, the economic transformation area shall consist only of the acreage of the closed facility. S 3. Paragraph (d) of subdivision 11 of section 400 of the economic development law, as added by section 3 of part QQ of chapter 60 of the laws of 2016, is amended and a new paragraph (e) is added to read as follows: (d) a facility previously owned by the state, and when operated, was operated as a psychiatric facility pursuant to section 7.17 of the mental hygiene law, and located within the metropolitan commuter trans- portation district but outside New York city[.]; OR (E) A FACILITY THAT CURRENTLY OPERATES AS A PSYCHIATRIC CENTER PURSU- ANT TO SECTION 7.17 OF THE MENTAL HYGIENE LAW, WHERE AT LEAST THREE-FIFTHS OF THE TOTAL ACREAGE OF SUCH FACILITY HAS BEEN DESIGNATED EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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