S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8042
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 25, 2017
                                ___________
 
 Introduced by M. of A. McDONALD, McLAUGHLIN -- read once and referred to
   the Committee on Ways and Means
 
 AN  ACT  in  relation  to approving 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 with respect to property located at 8 Empire
 Drive, East Greenbush, New York, with a landlord that is a  party  to  a
 payment  in  lieu  of  taxes  agreement with the state, municipal corpo-
 ration, or public benefit corporation shall be deemed, for the  purposes
 of  subdivision (e) of section 15 of the tax law, to constitute eligible
 real property taxes for all purposes and shall not  be  subject  to  any
 limitations  set  forth in subdivision (e) of section 15 of the tax law,
 and shall be deemed to satisfy, with respect to such eligible real prop-
 erty taxes, the credit  limitation  set  forth  in  subdivision  (f)  of
 section  15 of the tax law, and shall be deemed to have been made pursu-
 ant to a payment in lieu of taxes agreement between the qualified empire
 zone enterprise and 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. Notwithstand-
 ing any section of law to the contrary, a lessee shall  be  eligible  to
 claim  the  real property tax credit for any payment in lieu of taxes it
 made to the state, a municipal corporation, or a public  benefit  corpo-
 ration  for  the property located at 8 Empire Drive, East Greenbush, New
 York.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11798-02-7
              

 A. 8042                             2
 
   § 2. Notwithstanding the provisions of section 687 or 1087 of the  tax
 law  or  any  other  provision  to the contrary, a claim for a credit or
 refund may be filed by the taxpayer with respect to the property located
 at 8 Empire Drive, East Greenbush, New York, for taxable  years  January
 1,  2006  through  December  31,  2011 where the taxpayer is a qualified
 empire zone enterprise.
   § 3. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2006 and before January 1, 2012.