Senate Bill S5280

Signed By Governor
2017-2018 Legislative Session

Relates to a certain agreement for a payment in lieu of taxes with respect to a lessee that is a qualified empire zone enterprise of certain real property

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A7100 - 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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2017-S5280 (ACTIVE) - Details

See Assembly Version of this Bill:
A7100
Law Section:
Taxation

2017-S5280 (ACTIVE) - Summary

Relates to a certain agreement for a payment in lieu of taxes with respect to a lessee that is a qualified empire zone enterprise of certain real property.

2017-S5280 (ACTIVE) - Sponsor Memo

2017-S5280 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5280
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                              March 20, 2017
                                ___________
 
 Introduced  by Sens. CROCI, BOYLE -- read twice and ordered printed, and
   when printed to be committed to the Committee  on  Investigations  and
   Government Operations
 
 AN ACT in relation 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, with respect to any payment 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, such taxes shall be deemed to be eligible real property
 taxes  with respect to such lessee and (1) such 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 taxes to the taxing  authority  and  to
 have  received  a  receipt  for  such  payment  of taxes from the taxing
 authority. 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.
   § 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 1800 Motor Parkway, Islandia, New York, for taxable years January  1,
 2012  through December 31, 2015 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, 2012 and before January 1, 2016.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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