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Senate Bill S6635

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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2017-S6635 (ACTIVE) - Details

See Assembly Version of this Bill:
A8454
Current Committee:
Assembly Economic Development
Law Section:
Economic Development

2017-S6635 (ACTIVE) - Summary

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

2017-S6635 (ACTIVE) - Sponsor Memo

2017-S6635 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6635
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               June 8, 2017
                                ___________
 
 Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 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
 tax credits set forth in sections 14, 15, 16 and 210-B of the tax law as

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

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