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Assembly Bill A8454A

2017-2018 Legislative Session

Relates to allowing a previously certified entity to apply for reinstatement to the empire zone program

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2017-A8454 - Details

See Senate Version of this Bill:
S6635
Current Committee:
Assembly Economic Development
Law Section:
Municipalities

2017-A8454 - Summary

Relates to allowing a previously-certified entity to apply for reinstatement to the empire zone program.

2017-A8454 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8454
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 16, 2017
                                ___________
 
 Introduced  by M. of A. BARCLAY -- read once and referred to the Commit-
   tee on Economic Development
 
 AN ACT in relation to certification of an entity  in  the  empire  zones
   program
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. An entity previously certified pursuant to article 18-B  of
 the  general  municipal  law in the Fulton empire zone at 376 Owen Road,
 which has had its certificate of eligibility revoked by the empire state
 development corporation, shall be provided an opportunity  to  reinstate
 its  certification  in the empire zone regardless of any notification to
 the contrary issued by the empire state development corporation  or  any
 other  state  agency,  provided  the  following actions are taken by the
 entity: (a) submission to the empire state development corporation of an
 affidavit signed by an officer of the company stating that a  notice  of
 failure  to  file  the  2014  business  annual report and any subsequent
 notice of revocation of certification were not received by an officer of
 the company prior to the final  notice  of  revocation  of  the  certif-
 ication,  (b)  submission to the empire state development corporation of
 completed business annual reports for years 2013 through 2015,  and  (c)
 confirmation  as  evidenced by the filed business annual reports for tax
 years 2013 through 2015 demonstrating that the benefit-to-cost ratio for
 the entity calculated on a combined basis for years 2013  through  2015,
 as the sum of total gross payroll and capital investments divided by the
 total  tax  credits which were used by the entity, exceeds a ratio of 10
 to 1. Upon provision of all documentation as set forth in this  section,
 and  written  confirmation  by  the empire state development corporation
 that the submitted information  meets  these  requirements,  the  entity
 shall  be deemed certified in the Fulton empire zone and shall be eligi-
 ble for any benefits or tax credits set forth in sections 14, 15, 16 and
 210-B of the tax law as if such certification remained in  effect  on  a
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

2017-A8454A (ACTIVE) - Details

See Senate Version of this Bill:
S6635
Current Committee:
Assembly Economic Development
Law Section:
Municipalities

2017-A8454A (ACTIVE) - Summary

Relates to allowing a previously-certified entity to apply for reinstatement to the empire zone program.

2017-A8454A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8454--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 16, 2017
                                ___________
 
 Introduced  by M. of A. BARCLAY -- read once and referred to the Commit-
   tee on Economic Development --  committee  discharged,  bill  amended,
   ordered reprinted as amended and recommitted to said committee
 
 AN ACT to allow a previously certified entity to apply for reinstatement
   to the empire zone program

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. An entity previously certified pursuant to article 18-B  of
 the  general  municipal  law in the Fulton empire zone at 376 Owen Road,
 which has had its certificate of eligibility  revoked  by  empire  state
 development,  shall  be provided an opportunity to reinstate its certif-
 ication in the empire zone regardless of any notification to the contra-
 ry issued by  empire  state  development  or  any  other  state  agency,
 provided the following actions are taken by the entity:
   (a)  submission  to empire state development of an affidavit signed by
 an officer of the company stating that a notice of failure to  file  the
 2014  business  annual report and any subsequent notice of revocation of
 certification were not received by an officer of the  company  prior  to
 the final notice of revocation of the certification;
   (b) submission to empire state development of completed business annu-
 al reports for tax years 2013 through 2015; and
   (c) confirmation as evidenced by the filed business annual reports for
 taxable  years  2013 through 2015 demonstrating that the benefit-to-cost
 ratio for the entity calculated on  a  combined  basis  for  years  2013
 through  2015,  as  the  sum total gross payroll and capital investments
 divided by the total tax credits which were used by the entity,  exceeds
 a ratio of 10 to 1.
   Upon  provision  of  all documentation as set forth in this paragraph,
 and written confirmation by empire state development that the  submitted
 information  meets these requirements, the entity shall be deemed certi-
 fied in the Fulton empire zone and shall be eligible for any benefits or
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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