Senate Bill S6819

Signed By Governor
2015-2016 Legislative Session

Relates to eligibility of a Qualified Empire Zone Enterprise for real property tax credit for payments in lieu of taxes previously made for specified properties

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Archive: Last Bill Status - Signed by Governor

  • 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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2015-S6819 (ACTIVE) - Details

See Assembly Version of this Bill:
A9349
Law Section:
Schenectady County

2015-S6819 (ACTIVE) - Summary

Relates to eligibility for real property tax credit for payments in lieu of taxes made by a Qualified Empire Zone Enterprise for property located at 560 Broadway, Schenectady, New York.

2015-S6819 (ACTIVE) - Sponsor Memo

2015-S6819 (ACTIVE) - Bill Text download pdf 

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

    S. 6819                                                  A. 9349

                      S E N A T E - A S S E M B L Y

                            February 25, 2016
                               ___________

IN  SENATE -- Introduced by Sen. FARLEY -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Local Govern-
  ment

IN ASSEMBLY -- Introduced by M. of A.  SANTABARBARA  --  read  once  and
  referred to the Committee on Real Property Taxation

AN ACT relating to a certain agreement for a payment in lieu of taxes

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

  Section 1.  Notwithstanding  the  provisions  of  subdivision  (e)  of
section 15 of the tax law, any payment in lieu of taxes made by a quali-
fied  empire zone enterprise to the state, a municipal corporation, or a
public benefit corporation pursuant to its lease agreement for  property
located at 560 Broadway, Schenectady, New York with a landlord that is a
party  to  a payment in lieu of taxes agreement between the landlord and
the state, municipal corporation, or public benefit corporation shall be
deemed, for the purposes of subdivision (e) of section  15  of  the  tax
law,  to have been made pursuant to a payment in lieu of taxes agreement
with the state, municipal corporation, or  public  benefit  corporation.
Such  qualified  empire  zone  enterprise shall be eligible to claim the
real property tax credit provided by section 15 of the tax law  provided
that  for  each  of such periods, the landlord has not filed a claim for
the real property tax credit for such payments nor  made  a  payment  in
lieu  of  taxes  to  the state, municipal corporation, or public benefit
corporation pursuant to its agreement with the state,  municipal  corpo-
ration, or public benefit corporation for such payments. Notwithstanding
any  section of law to the contrary, such credit shall be based upon the
payments in lieu of taxes and employment of the tenant.
  S 2. This act shall take effect immediately and shall  only  apply  to
taxable  years  beginning  on and after January 1, 2012 and ending on or
before January 1, 2016.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14018-01-6

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