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Senate Bill S7539

2017-2018 Legislative Session

Relates to payment in lieu of taxes imposed on real property with respect to property located at 1800 Motor Parkway, Islandia, New York

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Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

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2017-S7539 (ACTIVE) - Details

See other versions of this Bill:
A9989 ,
S8951 ,
Current Committee:
Senate Investigations And Government Operations
Law Section:
Taxation
Laws Affected:
Amd §1, Chap 296 of 2017

2017-S7539 (ACTIVE) - Summary

Allows for payment in lieu of taxes imposed on real property with respect to property located at 1800 Motor Parkway, Islandia, New York, with respect to a lessee that is a qualified empire zone enterprise.

2017-S7539 (ACTIVE) - Sponsor Memo

2017-S7539 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7539
 
                             I N  S E N A T E
 
                             January 22, 2018
                                ___________
 
 Introduced  by  Sen.  CROCI  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations
 
 AN ACT to amend chapter 296 of the laws of 2017 relating  to  a  certain
   agreement  for  a  payment in lieu of taxes, in relation to 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. Section 1 of chapter 296 of the laws of 2017, relating to a
 certain  agreement for a payment in lieu of taxes, is amended to read as
 follows:
   Section 1.  Notwithstanding  the  provisions  of  subdivision  (e)  of
 section  15 of the tax law, with respect to any payment IN LIEU of taxes
 imposed on real property with respect to property located at 1800  Motor
 Parkway,  Islandia,  New York, with respect to a lessee that is a quali-
 fied empire zone enterprise, such PAYMENT IN  LIEU  OF  taxes  shall  be
 deemed  to  be  eligible real property taxes with respect to such lessee
 and (1) such PAYMENT IN LIEU OF taxes shall be deemed to have been  paid
 by  the lessee pursuant to explicit requirements in a written lease, (2)
 shall be deemed to become a lien on the real property during  a  taxable
 year in which the lessee of the real property is both certified pursuant
 to article 18-B of the general municipal law and a qualified empire zone
 enterprise,  and  (3)  the  lessee  shall  be deemed to have made direct
 payment of such PAYMENT IN LIEU OF taxes to the taxing authority and  to
 have  received  a  receipt  for  such  payment IN LIEU of taxes from the
 taxing authority. Such qualified empire zone enterprise shall be  eligi-
 ble  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.
   §  2.  This  act  shall  take  effect on the same date and in the same
 manner as chapter 296 of the laws of 2017, takes effect.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13846-01-7

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