Senate Bill S8063A

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8063--A
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                               May 15, 2025
                                ___________
 
 Introduced  by  Sens.  GOUNARDES,  SEPULVEDA  --  read twice and ordered
   printed, and when printed to be committed to the Committee on Cities 1
   -- committee discharged, bill amended, ordered  reprinted  as  amended
   and recommitted to said committee
 
 AN  ACT  to amend the general city law, chapter 772 of the laws of 1966,
   relating to enabling any city having a population of  one  million  or
   more  to raise tax revenue, and the administrative code of the city of
   New York, in  relation  to  authorizing  credits  for  relocation  and
   employment assistance and making available relocation assistance cred-
   its  per employees; and providing for the repeal of certain provisions
   upon expiration thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The opening paragraph of subdivision (b) of section 25-z of
 the  general  city law, as amended by section 1 of part RR of chapter 56
 of the laws of 2020, is amended to read as follows:
   No eligible business shall be authorized to receive a credit under any
 local law enacted pursuant to  this  article  until  the  premises  with
 respect  to which it is claiming the credit meet the requirements in the
 definition of eligible premises and until  it  has  obtained  a  certif-
 ication  of  eligibility from the mayor of such city or an agency desig-
 nated by such mayor, and an annual certification from such mayor  or  an
 agency  designated  by such mayor as to the number of eligible aggregate
 employment shares maintained by such eligible business that may  qualify
 for obtaining a tax credit for the eligible [business'] BUSINESS'S taxa-
 ble  year.  Any  written  documentation  submitted to such mayor or such
 agency or agencies in order to obtain any such  certification  shall  be
 deemed  a written instrument for purposes of section 175.00 of the penal
 law. Such local law may provide for application fees to be determined by
 such mayor or such agency or agencies. No such certification  of  eligi-
 bility  shall  be  issued  under  any local law enacted pursuant to this
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13062-02-5
              

 S. 8063--A                          2
 
 article to an eligible business on or after  July  first,  two  thousand
 [twenty-five] TWENTY-EIGHT unless:
   §  2. The opening paragraph of subdivision (b) of section 25-ee of the
 general city law, as amended by section 2 of part RR of  chapter  56  of
 the laws of 2020, is amended to read as follows:
   No  eligible business or special eligible business shall be authorized
 to receive a credit against tax under any local law enacted pursuant  to
 this article until the premises with respect to which it is claiming the
 credit  meet the requirements in the definition of eligible premises and
 until it has obtained a certification of eligibility from the  mayor  of
 such  city or any agency designated by such mayor, and an annual certif-
 ication from such mayor or an agency designated by such mayor as to  the
 number of eligible aggregate employment shares maintained by such eligi-
 ble  business  or  such  special  eligible business that may qualify for
 obtaining a tax credit for the eligible [business']  BUSINESS'S  taxable
 year.  No  special  eligible  business  shall be authorized to receive a
 credit against tax under the  provisions  of  this  article  unless  the
 number of relocated employee base shares calculated pursuant to subdivi-
 sion (o) of section twenty-five-dd of this article is equal to or great-
 er than the lesser of twenty-five percent of the number of New York city
 base  shares  calculated pursuant to subdivision (p) of such section and
 two hundred fifty employment shares. Any written documentation submitted
 to such mayor or such agency or agencies in order  to  obtain  any  such
 certification  shall  be  deemed  a  written  instrument for purposes of
 section 175.00 of the penal law. Such local law may provide for applica-
 tion fees to be determined by such mayor or such agency or agencies.  No
 certification of eligibility shall be issued under any local law enacted
 pursuant to this article to an eligible business on or after July first,
 two thousand [twenty-five] TWENTY-EIGHT unless:
   §  3.  The  general city law is amended by adding a new article 2-K to
 read as follows:
                                 ARTICLE 2-K
                 RELOCATION ASSISTANCE CREDIT PER EMPLOYEE
 SECTION 25-FF. DEFINITIONS.
         25-GG. RELOCATION ASSISTANCE CREDIT PER EMPLOYEE.
   § 25-FF. DEFINITIONS. WHEN USED IN THIS ARTICLE, THE  FOLLOWING  TERMS
 SHALL HAVE THE FOLLOWING MEANINGS:
   (A)  "AGGREGATE  EMPLOYMENT  SHARES"  MEANS  THE SUM OF ALL EMPLOYMENT
 SHARES MAINTAINED BY AN ELIGIBLE BUSINESS IN A TAXABLE YEAR.
   (B) "ELIGIBLE AGGREGATE EMPLOYMENT SHARES" MEANS, IN THE  CASE  OF  AN
 ELIGIBLE  BUSINESS,  THE  AMOUNT, IF ANY, OF AGGREGATE EMPLOYMENT SHARES
 MAINTAINED BY AN ELIGIBLE BUSINESS IN ELIGIBLE PREMISES IN  THE  TAXABLE
 YEAR IN WHICH SUCH ELIGIBLE BUSINESS CLAIMS A CREDIT PURSUANT TO A LOCAL
 LAW  ENACTED  IN ACCORDANCE WITH SECTION TWENTY-FIVE-GG OF THIS ARTICLE;
 PROVIDED, HOWEVER, THAT:
   (1) SUCH AMOUNT SHALL NOT EXCEED THE LESSER OF:
   (I) THE NUMBER OF  AGGREGATE  EMPLOYMENT  SHARES  MAINTAINED  BY  SUCH
 ELIGIBLE  BUSINESS IN ELIGIBLE PREMISES IN THE TAXABLE YEAR DURING WHICH
 SUCH ELIGIBLE BUSINESS RELOCATES;
   (II) THE MAXIMUM APPROVED EMPLOYMENT SHARES FOR  SUCH  ELIGIBLE  BUSI-
 NESS; OR
   (III)  AN  AMOUNT  EQUAL  TO  THE PRODUCT OF MULTIPLYING THE AGGREGATE
 EMPLOYMENT SHARES AND THE LINEAR SCALAR FOR SUCH  ELIGIBLE  BUSINESS  IN
 SUCH TAX YEAR; AND
 S. 8063--A                          3
 
   (2)  A FULL-TIME WORK WEEK OR PART-TIME WORK WEEK AT ELIGIBLE PREMISES
 PRIOR TO THE DATE OF RELOCATION SHALL  NOT  BE  TAKEN  INTO  ACCOUNT  IN
 DETERMINING ELIGIBLE AGGREGATE EMPLOYMENT SHARES.
   (C)  "ELIGIBLE  BUSINESS"  MEANS  ANY  PERSON SUBJECT TO A TAX IMPOSED
 UNDER A LOCAL LAW ENACTED PURSUANT TO PART TWO OR THREE OF SECTION  ONE,
 OR SECTION TWO OF CHAPTER SEVEN HUNDRED SEVENTY-TWO OF THE LAWS OF NINE-
 TEEN HUNDRED SIXTY-SIX THAT:
   (1) HAS BEEN CONDUCTING SUBSTANTIAL BUSINESS OPERATIONS AT ONE OR MORE
 BUSINESS LOCATIONS OUTSIDE OF NEW YORK STATE FOR THE TWENTY-FOUR CONSEC-
 UTIVE  MONTHS  IMMEDIATELY  PRECEDING THE TAXABLE YEAR DURING WHICH SUCH
 ELIGIBLE BUSINESS RELOCATES BUT HAS NOT MAINTAINED EMPLOYMENT SHARES  AT
 PREMISES IN NEW YORK STATE AT ANY TIME DURING THE PERIOD BEGINNING JANU-
 ARY FIRST, TWO THOUSAND TWENTY-FIVE AND ENDING ON THE DATE SUCH BUSINESS
 ENTERS  INTO  A  LEASE  OR A CONTRACT TO PURCHASE THE PREMISES THAT WILL
 QUALIFY AS ELIGIBLE PREMISES PURSUANT TO THIS ARTICLE; AND
   (2) ON OR AFTER JULY FIRST, TWO THOUSAND TWENTY-FIVE RELOCATES ALL  OR
 PART OF SUCH BUSINESS OPERATIONS.
   (D)  "ELIGIBLE  PREMISES"  MEANS  ONE OR MORE NON-RESIDENTIAL PREMISES
 THAT CONSIST OF AT LEAST TEN THOUSAND SQUARE FEET THAT ARE:
   (1) WHOLLY CONTAINED IN REAL PROPERTY LOCATED IN A CITY WITH  A  POPU-
 LATION OF ONE MILLION OR MORE; AND
   (2)  IF  CONTAINED  IN  REAL PROPERTY WHOLLY LOCATED IN THE BOROUGH OF
 MANHATTAN, ARE PREMISES FOR WHICH FINAL CERTIFICATES OF  OCCUPANCY  WERE
 ISSUED PRIOR TO JANUARY FIRST, TWO THOUSAND.
   (E)  "EMPLOYMENT  SHARE"  MEANS,  FOR  EACH  EMPLOYEE, PARTNER OR SOLE
 PROPRIETOR OF AN ELIGIBLE BUSINESS, THE SUM OF: (1) THE NUMBER OF  FULL-
 TIME  WORK  WEEKS  WORKED  BY  SUCH EMPLOYEE, PARTNER OR SOLE PROPRIETOR
 DURING THE ELIGIBLE BUSINESS'S TAXABLE YEAR DIVIDED  BY  THE  NUMBER  OF
 WEEKS  IN  THE  TAXABLE YEAR; AND (2) THE NUMBER OF PART-TIME WORK WEEKS
 WORKED BY SUCH EMPLOYEE, PARTNER OR SOLE PROPRIETOR DURING THE  ELIGIBLE
 BUSINESS'S  TAXABLE  YEAR DIVIDED BY AN AMOUNT EQUAL TO TWICE THE NUMBER
 OF WEEKS IN THE TAXABLE YEAR. EMPLOYMENT SHARE SHALL NOT  INCLUDE  FULL-
 TIME OR PART-TIME WORK WEEKS ATTRIBUTABLE TO EMPLOYEES, PARTNERS OR SOLE
 PROPRIETORS  ACQUIRED  BY  AN  ELIGIBLE BUSINESS AS A RESULT OF A MERGER
 WITH, ACQUISITION OF ANOTHER PERSON, OR A TRANSACTION HAVING A  COMPARA-
 BLE  EFFECT, THAT OCCURS AFTER JUNE THIRTIETH, TWO THOUSAND TWENTY-FIVE,
 AND BEFORE THE END OF THE TAXABLE YEAR IN WHICH A CREDIT IS  CLAIMED  BY
 SUCH  ELIGIBLE  BUSINESS  PURSUANT  TO A LOCAL LAW ENACTED IN ACCORDANCE
 WITH SECTION TWENTY-FIVE-GG OF THIS ARTICLE, OR TO SUCCESSORS,  IF  ANY,
 TO THOSE EMPLOYEES, PARTNERS OR SOLE PROPRIETORS.
   (F)  "FULL-TIME  WORK WEEK" MEANS A WEEK DURING WHICH AT LEAST THIRTY-
 FIVE HOURS OF GAINFUL WORK HAS BEEN PERFORMED BY AN EMPLOYEE, PARTNER OR
 SOLE PROPRIETOR.
   (G) "HOTEL SERVICES" MEANS ANY SERVICES THAT CONSIST PREDOMINATELY  OF
 THE  LODGING  OF GUESTS AT A BUILDING OR A PORTION THEREOF THAT IS REGU-
 LARLY USED AND KEPT OPEN FOR SUCH SERVICES. HOTEL SERVICES SHALL INCLUDE
 THE LODGING OF GUESTS AT AN APARTMENT HOTEL, A MOTEL, BOARDING HOUSE  OR
 CLUB, WHETHER OR NOT MEALS ARE SERVED.
   (H)  "LINEAR SCALAR" MEANS, FOR AN ELIGIBLE BUSINESS IN A TAXABLE YEAR
 IN WHICH A CREDIT IS CLAIMED PURSUANT TO A LOCAL LAW ENACTED IN  ACCORD-
 ANCE WITH SECTION TWENTY-FIVE-GG OF THIS ARTICLE, THE QUOTIENT OF DIVID-
 ING  THE  TOTAL SQUARE FOOTAGE OF AN ELIGIBLE PREMISES BY THE PRODUCT OF
 MULTIPLYING  ONE  HUNDRED  SEVENTY-FIVE  BY  SUCH  BUSINESS'S  AGGREGATE
 EMPLOYMENT SHARES.
   (I)  "MAXIMUM  APPROVED  EMPLOYMENT  SHARES" MEANS A LIMITATION ON THE
 AGGREGATE EMPLOYMENT SHARES THAT AN ELIGIBLE BUSINESS MAY RECEIVE IN ANY
 S. 8063--A                          4
 
 TAXABLE YEAR DETERMINED BY THE MAYOR PURSUANT TO A LOCAL LAW ENACTED  IN
 ACCORDANCE WITH SECTION TWENTY-FIVE-GG OF THIS ARTICLE BASED ON DOCUMEN-
 TATION  SUBMITTED  BY SUCH BUSINESS DEMONSTRATING SUCH BUSINESS'S INTEN-
 TION  TO  RELOCATE. THE MAXIMUM APPROVED EMPLOYMENT SHARES IS THE NUMBER
 OF AGGREGATE EMPLOYMENT SHARES SUCH  BUSINESS  INTENDS  TO  RELOCATE  AS
 INDICATED BY THE MAYOR ON THE APPLICABLE INITIAL CERTIFICATION OF ELIGI-
 BILITY.
   (J)  "MAYOR"  MEANS  THE  MAYOR  OF  A CITY HAVING A POPULATION OF ONE
 MILLION OR MORE, OR AN AGENCY OF SUCH CITY AS DESIGNATED BY SUCH MAYOR.
   (K) "PART-TIME WORK WEEK" MEANS A WEEK DURING WHICH AT  LEAST  FIFTEEN
 BUT LESS THAN THIRTY-FIVE HOURS OF GAINFUL WORK HAS BEEN PERFORMED BY AN
 EMPLOYEE, PARTNER OR SOLE PROPRIETOR.
   (L) "PERSON" INCLUDES ANY INDIVIDUAL, PARTNERSHIP, ASSOCIATION, JOINT-
 STOCK  COMPANY, CORPORATION, ESTATE OR TRUST, LIMITED LIABILITY COMPANY,
 AND ANY COMBINATION OF THE FOREGOING.
   (M) "PROGRAM TOTAL"  MEANS  THE  SUM  OF  MAXIMUM  APPROVED  AGGREGATE
 EMPLOYMENT  SHARES  INCLUDED IN ALL INITIAL CERTIFICATION OF ELIGIBILITY
 ISSUED BY THE MAYOR.
   (N) "RELOCATE" MEANS, WITH RESPECT TO AN ELIGIBLE BUSINESS, TO  TRANS-
 FER  A  PRE-EXISTING  BUSINESS  OPERATION TO AN ELIGIBLE PREMISES, OR TO
 ESTABLISH A NEW BUSINESS OPERATION AT SUCH PREMISES,  PROVIDED  THAT  AN
 ELIGIBLE  BUSINESS SHALL NOT BE DEEMED TO HAVE RELOCATED UNLESS AT LEAST
 ONE EMPLOYEE, PARTNER OR SOLE PROPRIETOR OF  THE  ELIGIBLE  BUSINESS  IS
 TRANSFERRED  TO  SUCH  PREMISES  FROM  A PRE-EXISTING BUSINESS OPERATION
 CONDUCTED OUTSIDE THE STATE OF NEW YORK. THE DATE OF RELOCATION SHALL BE
 THE FIRST DAY ON WHICH THE INDIVIDUAL SO TRANSFERRED COMMENCES  WORK  AT
 SUCH  ELIGIBLE  PREMISES.  THE  TAXABLE  YEAR OF RELOCATION SHALL BE THE
 TAXABLE YEAR IN WHICH THE DATE OF RELOCATION  OCCURS.  FOR  PURPOSES  OF
 THIS ARTICLE, AN ELIGIBLE BUSINESS MAY RELOCATE ONLY ONCE BUT MAY ADD OR
 SUBSTITUTE OTHER ELIGIBLE PREMISES THROUGHOUT SUCH PERIOD.
   (O)  "RETAIL ACTIVITY" MEANS ANY ACTIVITY WHICH CONSISTS PREDOMINATELY
 OF:
   (1) THE SALE, OTHER THAN THROUGH THE MAIL OR BY THE  TELEPHONE  OR  BY
 MEANS  OF  THE  INTERNET, OF TANGIBLE PERSONAL PROPERTY TO A PERSON, FOR
 ANY PURPOSE UNRELATED TO THE TRADE OR BUSINESS OF SUCH PERSON;
   (2) THE SELLING OF A SERVICE TO AN INDIVIDUAL WHICH GENERALLY INVOLVES
 THE PHYSICAL, MENTAL OR SPIRITUAL CARE OF SUCH INDIVIDUAL;
   (3) THE PHYSICAL CARE OF THE PERSONAL PROPERTY OF ANY PERSON UNRELATED
 TO THE TRADE OR BUSINESS OF SUCH PERSON; OR
   (4) THE PROVISION OF A RETAIL BANKING SERVICE.
   § 25-GG. RELOCATION ASSISTANCE  CREDIT  PER  EMPLOYEE.  (A)  ANY  CITY
 HAVING  A  POPULATION  OF  ONE  MILLION OR MORE IS HEREBY AUTHORIZED AND
 EMPOWERED TO ADOPT AND AMEND A LOCAL LAW ALLOWING AN  ELIGIBLE  BUSINESS
 THAT  RELOCATES  TO RECEIVE A CREDIT AGAINST A TAX IMPOSED UNDER A LOCAL
 LAW ENACTED PURSUANT TO PART TWO OR THREE OF SECTION ONE OR SECTION  TWO
 OF  CHAPTER  SEVEN  HUNDRED  SEVENTY-TWO OF THE LAWS OF NINETEEN HUNDRED
 SIXTY-SIX. THE AMOUNT OF SUCH CREDIT SHALL BE DETERMINED BY  MULTIPLYING
 FIVE  THOUSAND  DOLLARS  BY  THE NUMBER OF ELIGIBLE AGGREGATE EMPLOYMENT
 SHARES MAINTAINED BY THE TAXPAYER DURING THE TAXABLE YEAR  WITH  RESPECT
 TO  ELIGIBLE  PREMISES  TO  WHICH THE TAXPAYER HAS RELOCATED, AND MAY BE
 TAKEN, PURSUANT TO THE PROVISIONS OF  SECTION  FOUR-J  OF  PART  TWO  OF
 SECTION  ONE,  OR  SUBDIVISION (L) OF SECTION ONE HUNDRED ONE OF SECTION
 TWO OF CHAPTER SEVEN HUNDRED SEVENTY-TWO OF THE LAWS OF NINETEEN HUNDRED
 SIXTY-SIX, FOR UP TO ELEVEN CONSECUTIVE TAXABLE YEARS BEGINNING WITH THE
 TAXABLE YEAR IN WHICH THE ELIGIBLE BUSINESS RELOCATES, PROVIDED THAT  NO
 S. 8063--A                          5
 
 SUCH  CREDIT  SHALL BE ALLOWED FOR THE RELOCATION OF ANY RETAIL ACTIVITY
 OR HOTEL SERVICES.
   (B)  NO  ELIGIBLE  BUSINESS  SHALL  BE  AUTHORIZED TO RECEIVE A CREDIT
 AGAINST TAX UNDER ANY LOCAL LAW ENACTED PURSUANT TO THIS ARTICLE  UNLESS
 THE  PREMISES WITH RESPECT TO WHICH IT IS CLAIMING THE CREDIT ARE ELIGI-
 BLE PREMISES AND UNTIL IT  HAS  OBTAINED  AN  INITIAL  CERTIFICATION  OF
 ELIGIBILITY FROM THE MAYOR OF SUCH CITY AND AN ANNUAL CERTIFICATION FROM
 SUCH  MAYOR  AS  TO  THE  NUMBER OF ELIGIBLE AGGREGATE EMPLOYMENT SHARES
 MAINTAINED BY SUCH ELIGIBLE BUSINESS THAT MAY QUALIFY  FOR  OBTAINING  A
 TAX  CREDIT  FOR  THE  ELIGIBLE  BUSINESS'S  TAXABLE  YEAR. EACH INITIAL
 CERTIFICATION OF ELIGIBILITY SHALL INCLUDE THE MAXIMUM APPROVED  EMPLOY-
 MENT  SHARES  FOR  THE  ELIGIBLE  BUSINESS,  WHICH SHALL NOT EXCEED FIVE
 HUNDRED EMPLOYMENT SHARES. ANY WRITTEN DOCUMENTATION SUBMITTED  TO  SUCH
 MAYOR  IN ORDER TO OBTAIN ANY SUCH CERTIFICATION SHALL BE DEEMED A WRIT-
 TEN INSTRUMENT FOR PURPOSES OF SECTION 175.00 OF  THE  PENAL  LAW.  SUCH
 LOCAL  LAW  MAY PROVIDE FOR AN APPLICATION FEE FOR SUCH CERTIFICATION TO
 BE DETERMINED BY SUCH MAYOR. NO  INITIAL  CERTIFICATION  OF  ELIGIBILITY
 SHALL  BE ISSUED UNDER ANY LOCAL LAW ENACTED PURSUANT TO THIS ARTICLE TO
 AN ELIGIBLE BUSINESS ON OR AFTER JULY FIRST, TWO  THOUSAND  TWENTY-EIGHT
 UNLESS:
   (1) PRIOR TO SUCH DATE, SUCH BUSINESS HAS PURCHASED, LEASED OR ENTERED
 INTO A CONTRACT TO PURCHASE OR LEASE ELIGIBLE PREMISES;
   (2)  PRIOR  TO SUCH DATE, SUCH BUSINESS SUBMITS A PRELIMINARY APPLICA-
 TION FOR AN INITIAL CERTIFICATION OF  ELIGIBILITY  TO  SUCH  MAYOR  WITH
 RESPECT TO A PROPOSED RELOCATION TO SUCH PREMISES;
   (3)  SUCH  BUSINESS  ENTERS  INTO  A  LEASE OR CONTRACT TO PURCHASE AN
 ELIGIBLE PREMISES BETWEEN THE  DATE  THAT  SUCH  BUSINESS  SUBMITS  SUCH
 PRELIMINARY APPLICATION AND THREE MONTHS THEREAFTER; AND
   (4) SUCH BUSINESS RELOCATES TO SUCH PREMISES NOT LATER THAN THIRTY-SIX
 MONTHS FROM THE DATE OF SUBMISSION OF SUCH PRELIMINARY APPLICATION.
   (C)  NOTWITHSTANDING  ANY PROVISION OF LAW TO THE CONTRARY, SUCH MAYOR
 SHALL NOT ISSUE AN INITIAL CERTIFICATION OF ELIGIBILITY THAT WOULD CAUSE
 THE PROGRAM TOTAL TO EXCEED THREE THOUSAND MAXIMUM  APPROVED  EMPLOYMENT
 SHARES.  SUCH  MAYOR  SHALL APPROVE APPLICATIONS ON A FIRST-COME, FIRST-
 SERVE BASIS AMONG ELIGIBLE BUSINESSES IN ACCORDANCE WITH  RULES  PROMUL-
 GATED  PURSUANT  TO  A  LOCAL  LAW AUTHORIZED BY SUBDIVISION (D) OF THIS
 SECTION. SUCH MAYOR SHALL INCLUDE ON SUCH MAYOR'S WEBSITE AN  INDICATION
 REGARDING  WHETHER  THE PROGRAM TOTAL HAS REACHED THREE THOUSAND MAXIMUM
 APPROVED EMPLOYMENT SHARES.
   (D) SUCH MAYOR SHALL BE AUTHORIZED TO PROMULGATE RULES AND REGULATIONS
 TO ADMINISTER AND ENSURE COMPLIANCE WITH THE PROVISIONS OF THIS ARTICLE,
 INCLUDING BUT NOT LIMITED TO RULES AND REGULATIONS TO PROVIDE FOR ALTER-
 NATIVE METHODS TO MEASURE EMPLOYMENT SHARES IN INSTANCES WHERE AN ELIGI-
 BLE BUSINESS IS NOT REQUIRED BY LAW TO MAINTAIN WEEKLY RECORDS OF  FULL-
 TIME  WORK WEEKS AND PART-TIME WORK WEEKS OF EMPLOYEES, PARTNERS OR SOLE
 PROPRIETORS.
   (E) FOR THE DURATION OF THE BENEFIT PERIOD, THE RECIPIENT OF A  CREDIT
 PURSUANT  TO  A  LOCAL LAW ENACTED IN ACCORDANCE WITH THIS ARTICLE SHALL
 FILE AN APPLICATION FOR AN ANNUAL CERTIFICATION EACH YEAR  DEMONSTRATING
 SUCH  RECIPIENT'S  ELIGIBILITY  FOR SUCH CREDIT AND THE AVERAGE WAGE AND
 BENEFITS OFFERED TO THE APPLICABLE RELOCATED EMPLOYEES USED IN DETERMIN-
 ING ELIGIBLE AGGREGATE EMPLOYMENT SHARES.  SUCH  MAYOR  SHALL  HAVE  THE
 AUTHORITY  TO  REQUIRE  THAT  STATEMENTS FILED UNDER THIS SUBDIVISION BE
 FILED ELECTRONICALLY AND THAT SUCH STATEMENTS BE CERTIFIED.
 S. 8063--A                          6
 
   § 4. Part II of section 1 of chapter 772 of the laws of 1966, relating
 to enabling any city having a population of one million or more to raise
 tax revenue, is amended by adding a new section 4-j to read as follows:
   §  4-J.  RELOCATION ASSISTANCE CREDIT PER EMPLOYEE. (1) IN ADDITION TO
 ANY OTHER CREDIT ALLOWED BY THIS PART OTHER THAN  A  CREDIT  ALLOWED  BY
 SECTION  FOUR-H  OF  THIS PART, A TAXPAYER THAT HAS OBTAINED THE CERTIF-
 ICATIONS IN ACCORDANCE WITH SUBDIVISION (B) OF SECTION TWENTY-FIVE-GG OF
 THE GENERAL CITY LAW SHALL BE ALLOWED A CREDIT AGAINST THE  TAX  IMPOSED
 BY  THIS PART.   THE AMOUNT OF THE CREDIT SHALL BE THE AMOUNT DETERMINED
 BY MULTIPLYING FIVE THOUSAND DOLLARS BY THE NUMBER OF ELIGIBLE AGGREGATE
 EMPLOYMENT SHARES MAINTAINED BY THE TAXPAYER  DURING  THE  TAXABLE  YEAR
 WITH  RESPECT  TO ELIGIBLE PREMISES TO WHICH THE TAXPAYER HAS RELOCATED;
 PROVIDED, HOWEVER, THAT NO CREDIT SHALL BE ALLOWED FOR THE RELOCATION OF
 ANY RETAIL ACTIVITY OR HOTEL SERVICES. FOR PURPOSES OF THIS SECTION, THE
 TERMS  "ELIGIBLE  AGGREGATE  EMPLOYMENT  SHARES",  "ELIGIBLE  PREMISES",
 "RELOCATE",  "RETAIL ACTIVITY" AND "HOTEL SERVICES" SHALL HAVE THE MEAN-
 INGS ASCRIBED BY SECTION TWENTY-FIVE-FF OF THE GENERAL CITY LAW.
   (2) THE CREDIT ALLOWED UNDER THIS SECTION  WITH  RESPECT  TO  ELIGIBLE
 AGGREGATE EMPLOYMENT SHARES MAINTAINED WITH RESPECT TO ELIGIBLE PREMISES
 TO  WHICH  THE  TAXPAYER  HAS RELOCATED SHALL BE ALLOWED FOR THE TAXABLE
 YEAR OF THE RELOCATION AND FOR ANY OF THE TEN SUCCEEDING  TAXABLE  YEARS
 DURING  WHICH  ELIGIBLE  AGGREGATE EMPLOYMENT SHARES ARE MAINTAINED WITH
 RESPECT TO ELIGIBLE PREMISES; PROVIDED THAT THE CREDIT ALLOWED  FOR  THE
 TENTH  SUCCEEDING  TAXABLE  YEAR  SHALL BE CALCULATED BY MULTIPLYING THE
 NUMBER OF ELIGIBLE AGGREGATE EMPLOYMENT SHARES MAINTAINED  WITH  RESPECT
 TO  ELIGIBLE PREMISES IN THE TENTH SUCCEEDING TAXABLE YEAR BY THE LESSER
 OF ONE AND A FRACTION THE NUMERATOR OF WHICH IS SUCH NUMBER OF  DAYS  IN
 THE  TAXABLE  YEAR  OF  RELOCATION  LESS THE NUMBER OF DAYS THE ELIGIBLE
 BUSINESS MAINTAINED EMPLOYMENT SHARES IN ELIGIBLE PREMISES IN THE  TAXA-
 BLE  YEAR  OF  RELOCATION  AND THE DENOMINATOR OF WHICH IS THE NUMBER OF
 DAYS IN SUCH TENTH TAXABLE YEAR DURING  WHICH  SUCH  ELIGIBLE  AGGREGATE
 EMPLOYMENT SHARES ARE MAINTAINED WITH RESPECT TO SUCH PREMISES.
   (3)  EXCEPT  AS  PROVIDED  IN SUBDIVISION FOUR OF THIS SECTION, IF THE
 AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SECTION FOR ANY  TAXABLE  YEAR
 EXCEEDS  THE  TAX IMPOSED FOR SUCH YEAR, THE EXCESS MAY BE CARRIED OVER,
 IN ORDER, TO THE FIVE IMMEDIATELY SUCCEEDING TAXABLE YEARS AND,  TO  THE
 EXTENT  NOT  PREVIOUSLY  DEDUCTIBLE, MAY BE DEDUCTED FROM THE TAXPAYER'S
 TAX FOR SUCH YEARS.
   (4) THE CREDITS ALLOWED UNDER THIS SECTION, AGAINST THE TAX IMPOSED BY
 THIS CHAPTER FOR THE TAXABLE YEAR OF THE RELOCATION  AND  FOR  THE  FOUR
 TAXABLE  YEARS  IMMEDIATELY  SUCCEEDING  THE  TAXABLE YEAR OF SUCH RELO-
 CATION, SHALL BE DEEMED TO BE OVERPAYMENTS OF TAX BY THE TAXPAYER TO  BE
 CREDITED   OR   REFUNDED,  WITHOUT  INTEREST,  IN  ACCORDANCE  WITH  THE
 PROVISIONS OF SECTION SEVENTY-SEVEN OF  THIS  TITLE.  FOR  SUCH  TAXABLE
 YEARS,  SUCH  CREDITS OR PORTIONS THEREOF MAY NOT BE CARRIED OVER TO ANY
 SUCCEEDING TAXABLE YEAR.
   (5) THE CREDIT ALLOWED UNDER THIS SECTION SHALL BE DEDUCTED  PRIOR  TO
 THE DEDUCTION OF ANY OTHER CREDIT ALLOWED BY THIS PART, EXCEPT AS OTHER-
 WISE PROVIDED BY LAW.
   §  5.  Section  101  of  section 2 of chapter 772 of the laws of 1966,
 relating to enabling any city having a population of one million or more
 to raise tax revenue, is amended by adding a new subdivision (l) to read
 as follows:
   (L) RELOCATION ASSISTANCE CREDIT PER EMPLOYEE. (1) IN ADDITION TO  ANY
 OTHER  CREDIT ALLOWED BY THIS PART OTHER THAN A CREDIT ALLOWED BY SUBDI-
 VISION (J) OF THIS SECTION, A TAXPAYER THAT  HAS  OBTAINED  THE  CERTIF-
 S. 8063--A                          7
 
 ICATIONS IN ACCORDANCE WITH SUBDIVISION (B) OF SECTION TWENTY-FIVE-GG OF
 THE  GENERAL  CITY LAW SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED
 BY THIS PART. THE AMOUNT OF THE CREDIT SHALL BE THE AMOUNT DETERMINED BY
 MULTIPLYING  FIVE  THOUSAND  DOLLARS BY THE NUMBER OF ELIGIBLE AGGREGATE
 EMPLOYMENT SHARES MAINTAINED BY THE TAXPAYER  DURING  THE  TAXABLE  YEAR
 WITH  RESPECT  TO ELIGIBLE PREMISES TO WHICH THE TAXPAYER HAS RELOCATED;
 PROVIDED, HOWEVER, THAT NO CREDIT SHALL BE ALLOWED FOR THE RELOCATION OF
 ANY RETAIL ACTIVITY OR HOTEL SERVICES. FOR PURPOSES OF THIS SUBDIVISION,
 THE TERMS "ELIGIBLE AGGREGATE EMPLOYMENT SHARES",  "ELIGIBLE  PREMISES",
 "RELOCATE",  "RETAIL ACTIVITY" AND "HOTEL SERVICES" SHALL HAVE THE MEAN-
 INGS ASCRIBED BY SECTION TWENTY-FIVE-FF OF THE GENERAL CITY LAW.
   (2) THE CREDIT ALLOWED UNDER THIS SUBDIVISION WITH RESPECT TO ELIGIBLE
 AGGREGATE EMPLOYMENT SHARES MAINTAINED WITH RESPECT TO ELIGIBLE PREMISES
 TO WHICH THE TAXPAYER HAS RELOCATED SHALL BE  ALLOWED  FOR  THE  TAXABLE
 YEAR  OF  THE RELOCATION AND FOR ANY OF THE TEN SUCCEEDING TAXABLE YEARS
 DURING WHICH ELIGIBLE AGGREGATE EMPLOYMENT SHARES  ARE  MAINTAINED  WITH
 RESPECT  TO  ELIGIBLE PREMISES; PROVIDED THAT THE CREDIT ALLOWED FOR THE
 TENTH SUCCEEDING TAXABLE YEAR SHALL BE  CALCULATED  BY  MULTIPLYING  THE
 NUMBER  OF  ELIGIBLE AGGREGATE EMPLOYMENT SHARES MAINTAINED WITH RESPECT
 TO ELIGIBLE PREMISES IN THE TENTH SUCCEEDING TAXABLE YEAR BY THE  LESSER
 OF  ONE  AND A FRACTION THE NUMERATOR OF WHICH IS SUCH NUMBER OF DAYS IN
 THE TAXABLE YEAR OF RELOCATION LESS THE  NUMBER  OF  DAYS  THE  ELIGIBLE
 BUSINESS  MAINTAINED EMPLOYMENT SHARES IN ELIGIBLE PREMISES IN THE TAXA-
 BLE YEAR OF RELOCATION AND THE DENOMINATOR OF WHICH  IS  THE  NUMBER  OF
 DAYS  IN  SUCH  TENTH SUCCEEDING TAXABLE YEAR DURING WHICH SUCH ELIGIBLE
 AGGREGATE EMPLOYMENT SHARES ARE MAINTAINED WITH RESPECT  TO  SUCH  PREM-
 ISES.
   (3)  EXCEPT  AS PROVIDED IN PARAGRAPH FOUR OF THIS SUBDIVISION, IF THE
 AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBDIVISION  FOR  ANY  TAXABLE
 YEAR  EXCEEDS  THE  TAX IMPOSED FOR SUCH YEAR, THE EXCESS MAY BE CARRIED
 OVER, IN ORDER, TO THE FIVE IMMEDIATELY SUCCEEDING TAXABLE YEARS AND, TO
 THE EXTENT NOT PREVIOUSLY DEDUCTIBLE, MAY BE DEDUCTED FROM  THE  TAXPAY-
 ER'S TAX FOR SUCH YEARS.
   (4)  THE  CREDITS  ALLOWED  UNDER  THIS  SUBDIVISION,  AGAINST THE TAX
 IMPOSED BY THIS CHAPTER FOR THE TAXABLE YEAR OF THE RELOCATION  AND  FOR
 THE  FOUR  TAXABLE YEARS IMMEDIATELY SUCCEEDING THE TAXABLE YEAR OF SUCH
 RELOCATION, SHALL BE DEEMED TO BE OVERPAYMENTS OF TAX BY THE TAXPAYER TO
 BE CREDITED OR  REFUNDED,  WITHOUT  INTEREST,  IN  ACCORDANCE  WITH  THE
 PROVISIONS  OF  SECTION  SEVENTY-SEVEN  OF  THIS TITLE. FOR SUCH TAXABLE
 YEARS, SUCH CREDITS OR PORTIONS THEREOF MAY NOT BE CARRIED OVER  TO  ANY
 SUCCEEDING TAXABLE YEAR.
   (5)  THE  CREDIT  ALLOWABLE  UNDER  THIS SUBDIVISION SHALL BE DEDUCTED
 AFTER THE CREDITS ALLOWED BY SUBDIVISION (B) OF THIS SECTION, BUT  PRIOR
 TO THE DEDUCTION OF ANY OTHER CREDIT ALLOWED BY THIS SECTION.
   § 6. Section 11-503 of the administrative code of the city of New York
 is amended by adding a new subdivision (r) to read as follows:
   (R)  RELOCATION ASSISTANCE CREDIT PER EMPLOYEE. (1) IN ADDITION TO ANY
 OTHER CREDIT ALLOWED BY THIS SECTION OTHER  THAN  A  CREDIT  ALLOWED  BY
 SUBDIVISION  (I)  OF  THIS  SECTION,  A  TAXPAYER  THAT HAS OBTAINED THE
 CERTIFICATIONS REQUIRED BY CHAPTER SIX-E OF  TITLE  TWENTY-TWO  OF  THIS
 CODE  SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS CHAPTER.
 THE AMOUNT OF THE CREDIT SHALL BE THE AMOUNT DETERMINED  BY  MULTIPLYING
 FIVE  THOUSAND  DOLLARS  BY  THE NUMBER OF ELIGIBLE AGGREGATE EMPLOYMENT
 SHARES MAINTAINED BY THE TAXPAYER DURING THE TAXABLE YEAR  WITH  RESPECT
 TO  ELIGIBLE  PREMISES  TO  WHICH  THE TAXPAYER HAS RELOCATED; PROVIDED,
 HOWEVER, THAT NO CREDIT SHALL BE  ALLOWED  FOR  THE  RELOCATION  OF  ANY
 S. 8063--A                          8
 
 RETAIL ACTIVITY OR HOTEL SERVICES. FOR PURPOSES OF THIS SUBDIVISION, THE
 TERMS  "ELIGIBLE  AGGREGATE  EMPLOYMENT  SHARES",  "ELIGIBLE  PREMISES",
 "RELOCATE", "RETAIL ACTIVITY" AND "HOTEL SERVICES" SHALL HAVE THE  MEAN-
 INGS ASCRIBED BY SECTION 22-627 OF THIS CODE.
   (2) THE CREDIT ALLOWED UNDER THIS SUBDIVISION WITH RESPECT TO ELIGIBLE
 AGGREGATE EMPLOYMENT SHARES MAINTAINED WITH RESPECT TO ELIGIBLE PREMISES
 TO  WHICH  THE  TAXPAYER  HAS RELOCATED SHALL BE ALLOWED FOR THE TAXABLE
 YEAR OF THE RELOCATION AND FOR ANY OF THE TEN SUCCEEDING  TAXABLE  YEARS
 DURING  WHICH  ELIGIBLE  AGGREGATE EMPLOYMENT SHARES ARE MAINTAINED WITH
 RESPECT TO ELIGIBLE PREMISES; PROVIDED THAT THE CREDIT ALLOWED  FOR  THE
 TENTH  SUCCEEDING  TAXABLE  YEAR  SHALL BE CALCULATED BY MULTIPLYING THE
 NUMBER OF ELIGIBLE AGGREGATE EMPLOYMENT SHARES MAINTAINED  WITH  RESPECT
 TO  ELIGIBLE PREMISES IN THE TENTH SUCCEEDING TAXABLE YEAR BY THE LESSER
 OF ONE AND A FRACTION THE NUMERATOR OF WHICH IS SUCH NUMBER OF  DAYS  IN
 THE  TAXABLE  YEAR  OF  RELOCATION  LESS THE NUMBER OF DAYS THE TAXPAYER
 MAINTAINED EMPLOYMENT SHARES IN ELIGIBLE PREMISES IN THE TAXABLE YEAR OF
 RELOCATION AND THE DENOMINATOR OF WHICH IS THE NUMBER OF  DAYS  IN  SUCH
 TENTH  SUCCEEDING  TAXABLE  YEAR  DURING  WHICH  SUCH ELIGIBLE AGGREGATE
 EMPLOYMENT SHARES ARE MAINTAINED WITH RESPECT TO SUCH PREMISES.
   (3) EXCEPT AS PROVIDED IN PARAGRAPH FOUR OF THIS SUBDIVISION,  IF  THE
 AMOUNT  OF  THE  CREDIT ALLOWABLE UNDER THIS SUBDIVISION FOR ANY TAXABLE
 YEAR EXCEEDS THE TAX IMPOSED FOR SUCH YEAR, THE EXCESS  MAY  BE  CARRIED
 OVER, IN ORDER, TO THE FIVE IMMEDIATELY SUCCEEDING TAXABLE YEARS AND, TO
 THE  EXTENT  NOT PREVIOUSLY DEDUCTIBLE, MAY BE DEDUCTED FROM THE TAXPAY-
 ER'S TAX FOR SUCH YEARS.
   (4) THE CREDITS  ALLOWED  UNDER  THIS  SUBDIVISION,  AGAINST  THE  TAX
 IMPOSED  BY  THIS CHAPTER FOR THE TAXABLE YEAR OF THE RELOCATION AND FOR
 THE FOUR TAXABLE YEARS IMMEDIATELY SUCCEEDING THE TAXABLE YEAR  OF  SUCH
 RELOCATION, SHALL BE DEEMED TO BE OVERPAYMENTS OF TAX BY THE TAXPAYER TO
 BE  CREDITED  OR  REFUNDED,  WITHOUT  INTEREST,  IN  ACCORDANCE WITH THE
 PROVISIONS OF SECTION 11-526 OF THIS TITLE. FOR SUCH TAXABLE YEARS, SUCH
 CREDITS OR PORTIONS THEREOF MAY NOT BE CARRIED OVER  TO  ANY  SUCCEEDING
 TAXABLE YEAR.
   (5)  THE  CREDIT  ALLOWABLE  UNDER  THIS SUBDIVISION SHALL BE DEDUCTED
 AFTER THE CREDITS ALLOWED BY SUBDIVISIONS (B) AND (J) OF  THIS  SECTION,
 BUT PRIOR TO THE DEDUCTION OF ANY OTHER CREDIT ALLOWED BY THIS SECTION.
   § 7. Section 11-604 of the administrative code of the city of New York
 is amended by adding a new subdivision 24 to read as follows:
   24.  RELOCATION ASSISTANCE CREDIT PER EMPLOYEE. (A) IN ADDITION TO ANY
 OTHER CREDIT ALLOWED BY THIS SECTION OTHER  THAN  A  CREDIT  ALLOWED  BY
 SUBDIVISION  SEVENTEEN OF THIS SECTION, A TAXPAYER THAT HAS OBTAINED THE
 CERTIFICATIONS REQUIRED BY CHAPTER SIX-E OF  TITLE  TWENTY-TWO  OF  THIS
 CODE  SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS CHAPTER.
 THE AMOUNT OF THE CREDIT SHALL BE THE AMOUNT DETERMINED  BY  MULTIPLYING
 FIVE  THOUSAND  DOLLARS  BY  THE NUMBER OF ELIGIBLE AGGREGATE EMPLOYMENT
 SHARES MAINTAINED BY THE TAXPAYER DURING THE TAXABLE YEAR  WITH  RESPECT
 TO  ELIGIBLE  PREMISES  TO  WHICH  THE TAXPAYER HAS RELOCATED; PROVIDED,
 HOWEVER, THAT NO CREDIT SHALL BE  ALLOWED  FOR  THE  RELOCATION  OF  ANY
 RETAIL ACTIVITY OR HOTEL SERVICES. FOR PURPOSES OF THIS SUBDIVISION, THE
 TERMS  "ELIGIBLE  AGGREGATE  EMPLOYMENT  SHARES",  "ELIGIBLE  PREMISES",
 "RELOCATE", "RETAIL ACTIVITY" AND "HOTEL SERVICES" SHALL HAVE THE  MEAN-
 INGS ASCRIBED BY SECTION 22-627 OF THIS CODE.
   (B) THE CREDIT ALLOWED UNDER THIS SUBDIVISION WITH RESPECT TO ELIGIBLE
 AGGREGATE EMPLOYMENT SHARES MAINTAINED WITH RESPECT TO ELIGIBLE PREMISES
 TO  WHICH  THE  TAXPAYER  HAS RELOCATED SHALL BE ALLOWED FOR THE TAXABLE
 YEAR OF THE RELOCATION AND FOR ANY OF THE TEN SUCCEEDING  TAXABLE  YEARS
 S. 8063--A                          9
 
 DURING  WHICH  ELIGIBLE  AGGREGATE EMPLOYMENT SHARES ARE MAINTAINED WITH
 RESPECT TO ELIGIBLE PREMISES; PROVIDED THAT THE CREDIT ALLOWED  FOR  THE
 TENTH  SUCCEEDING  TAXABLE  YEAR  SHALL BE CALCULATED BY MULTIPLYING THE
 NUMBER  OF  ELIGIBLE AGGREGATE EMPLOYMENT SHARES MAINTAINED WITH RESPECT
 TO ELIGIBLE PREMISES IN THE TENTH SUCCEEDING TAXABLE YEAR BY THE  LESSER
 OF  ONE  AND A FRACTION THE NUMERATOR OF WHICH IS SUCH NUMBER OF DAYS IN
 THE TAXABLE YEAR OF RELOCATION LESS THE  NUMBER  OF  DAYS  THE  TAXPAYER
 MAINTAINED EMPLOYMENT SHARES IN ELIGIBLE PREMISES IN THE TAXABLE YEAR OF
 RELOCATION  AND  THE  DENOMINATOR OF WHICH IS THE NUMBER OF DAYS IN SUCH
 TENTH TAXABLE YEAR  DURING  WHICH  SUCH  ELIGIBLE  AGGREGATE  EMPLOYMENT
 SHARES ARE MAINTAINED WITH RESPECT TO SUCH PREMISES.
   (C)  EXCEPT  AS  PROVIDED IN PARAGRAPH (D) OF THIS SUBDIVISION, IF THE
 AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SUBDIVISION  FOR  ANY  TAXABLE
 YEAR  EXCEEDS  THE  TAX IMPOSED FOR SUCH YEAR, THE EXCESS MAY BE CARRIED
 OVER, IN ORDER, TO THE FIVE IMMEDIATELY SUCCEEDING TAXABLE YEARS AND, TO
 THE EXTENT NOT PREVIOUSLY DEDUCTIBLE, MAY BE DEDUCTED FROM  THE  TAXPAY-
 ER'S TAX FOR SUCH YEARS.
   (D)  THE  CREDITS  ALLOWED  UNDER  THIS  SUBDIVISION,  AGAINST THE TAX
 IMPOSED BY THIS CHAPTER FOR THE TAXABLE YEAR OF THE RELOCATION  AND  FOR
 THE  FOUR  TAXABLE YEARS IMMEDIATELY SUCCEEDING THE TAXABLE YEAR OF SUCH
 RELOCATION, SHALL BE DEEMED TO BE OVERPAYMENTS OF TAX BY THE TAXPAYER TO
 BE CREDITED OR  REFUNDED,  WITHOUT  INTEREST,  IN  ACCORDANCE  WITH  THE
 PROVISIONS  OF  SECTION  11-677 OF THIS CHAPTER. FOR SUCH TAXABLE YEARS,
 SUCH CREDITS OR PORTIONS THEREOF MAY NOT BE CARRIED OVER TO ANY SUCCEED-
 ING TAXABLE YEAR.
   (E) THE CREDIT ALLOWABLE UNDER  THIS  SUBDIVISION  SHALL  BE  DEDUCTED
 AFTER  THE  CREDIT  ALLOWED BY SUBDIVISION EIGHTEEN OF THIS SECTION, BUT
 PRIOR TO THE DEDUCTION OF ANY OTHER CREDIT ALLOWED BY THIS SECTION.
   § 8. The administrative code of the city of New  York  is  amended  by
 adding a new section 11-643.10 to read as follows:
   § 11-643.10 RELOCATION ASSISTANCE CREDIT PER EMPLOYEE. (A) IN ADDITION
 TO  ANY OTHER CREDIT ALLOWED BY THIS PART OTHER THAN A CREDIT ALLOWED BY
 SECTION 11-643.7 OF THIS PART, A TAXPAYER THAT HAS OBTAINED THE  CERTIF-
 ICATIONS  REQUIRED  BY  CHAPTER  SIX-E  OF TITLE TWENTY-TWO OF THIS CODE
 SHALL BE ALLOWED A CREDIT AGAINST THE TAX  IMPOSED  BY  THIS  PART.  THE
 AMOUNT  OF THE CREDIT SHALL BE THE AMOUNT DETERMINED BY MULTIPLYING FIVE
 THOUSAND DOLLARS BY THE NUMBER OF ELIGIBLE AGGREGATE  EMPLOYMENT  SHARES
 MAINTAINED  BY  THE  TAXPAYER  DURING  THE  TAXABLE YEAR WITH RESPECT TO
 ELIGIBLE PREMISES TO WHICH THE TAXPAYER HAS RELOCATED; PROVIDED,  HOWEV-
 ER,  THAT  NO  CREDIT  SHALL BE ALLOWED FOR THE RELOCATION OF ANY RETAIL
 ACTIVITY OR HOTEL SERVICES. FOR PURPOSES  OF  THIS  SECTION,  THE  TERMS
 "ELIGIBLE AGGREGATE EMPLOYMENT SHARES", "ELIGIBLE PREMISES", "RELOCATE",
 "RETAIL  ACTIVITY" AND "HOTEL SERVICES" SHALL HAVE THE MEANINGS ASCRIBED
 BY SECTION 22-627 OF THIS CODE.
   (B) THE CREDIT ALLOWED UNDER THIS SECTION  WITH  RESPECT  TO  ELIGIBLE
 AGGREGATE EMPLOYMENT SHARES MAINTAINED WITH RESPECT TO ELIGIBLE PREMISES
 TO  WHICH  THE  TAXPAYER  HAS RELOCATED SHALL BE ALLOWED FOR THE TAXABLE
 YEAR OF THE RELOCATION AND FOR ANY OF THE TEN SUCCEEDING  TAXABLE  YEARS
 DURING  WHICH  ELIGIBLE  AGGREGATE EMPLOYMENT SHARES ARE MAINTAINED WITH
 RESPECT TO ELIGIBLE PREMISES; PROVIDED THAT THE CREDIT ALLOWED  FOR  THE
 TENTH  SUCCEEDING  TAXABLE  YEAR  SHALL BE CALCULATED BY MULTIPLYING THE
 NUMBER OF ELIGIBLE AGGREGATE EMPLOYMENT SHARES MAINTAINED  WITH  RESPECT
 TO  ELIGIBLE PREMISES IN THE TENTH SUCCEEDING TAXABLE YEAR BY THE LESSER
 OF ONE AND A FRACTION THE NUMERATOR OF WHICH IS SUCH NUMBER OF  DAYS  IN
 THE  TAXABLE  YEAR  OF  RELOCATION  LESS THE NUMBER OF DAYS THE TAXPAYER
 MAINTAINED EMPLOYMENT SHARES IN ELIGIBLE PREMISES IN THE TAXABLE YEAR OF
 S. 8063--A                         10
 
 RELOCATION AND THE DENOMINATOR OF WHICH IS THE NUMBER OF  DAYS  IN  SUCH
 TENTH  SUCCEEDING  TAXABLE  YEAR  DURING  WHICH  SUCH ELIGIBLE AGGREGATE
 EMPLOYMENT SHARES ARE MAINTAINED WITH RESPECT TO SUCH PREMISES.
   (C)  EXCEPT  AS  PROVIDED  IN  SUBDIVISION (D) OF THIS SECTION, IF THE
 AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS SECTION FOR ANY  TAXABLE  YEAR
 EXCEEDS  THE  TAX IMPOSED FOR SUCH YEAR, THE EXCESS MAY BE CARRIED OVER,
 IN ORDER, TO THE FIVE IMMEDIATELY SUCCEEDING TAXABLE YEARS AND,  TO  THE
 EXTENT  NOT  PREVIOUSLY  DEDUCTIBLE, MAY BE DEDUCTED FROM THE TAXPAYER'S
 TAX FOR SUCH YEARS.
   (D) THE CREDITS ALLOWED UNDER THIS SECTION, AGAINST THE TAX IMPOSED BY
 THIS CHAPTER FOR THE TAXABLE YEAR OF THE RELOCATION  AND  FOR  THE  FOUR
 TAXABLE  YEARS  IMMEDIATELY  SUCCEEDING  THE  TAXABLE YEAR OF SUCH RELO-
 CATION, SHALL BE DEEMED TO BE OVERPAYMENTS OF TAX BY THE TAXPAYER TO  BE
 CREDITED   OR   REFUNDED,  WITHOUT  INTEREST,  IN  ACCORDANCE  WITH  THE
 PROVISIONS OF SECTION 11-677 OF THIS CHAPTER. FOR  SUCH  TAXABLE  YEARS,
 SUCH CREDITS OR PORTIONS THEREOF MAY NOT BE CARRIED OVER TO ANY SUCCEED-
 ING TAXABLE YEAR.
   (E)  THE  CREDIT  ALLOWABLE UNDER THIS SECTION SHALL BE DEDUCTED AFTER
 THE CREDIT ALLOWED BY SECTION 11-643.8 OF THIS PART, BUT  PRIOR  TO  THE
 DEDUCTION OF ANY OTHER CREDIT ALLOWED BY THIS PART.
   § 9. Section 11-654 of the administrative code of the city of New York
 is amended by adding a new subdivision 24 to read as follows:
   24.  RELOCATION ASSISTANCE CREDIT PER EMPLOYEE. (A) IN ADDITION TO ANY
 OTHER CREDIT ALLOWED BY THIS SECTION OTHER  THAN  A  CREDIT  ALLOWED  BY
 SUBDIVISION  SEVENTEEN OF THIS SECTION, A TAXPAYER THAT HAS OBTAINED THE
 CERTIFICATIONS REQUIRED BY CHAPTER SIX-E OF  TITLE  TWENTY-TWO  OF  THIS
 CODE  SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS SUBCHAP-
 TER.  THE AMOUNT OF THE CREDIT SHALL BE THE AMOUNT DETERMINED BY  MULTI-
 PLYING FIVE THOUSAND DOLLARS BY THE NUMBER OF ELIGIBLE AGGREGATE EMPLOY-
 MENT  SHARES  MAINTAINED  BY  THE  TAXPAYER DURING THE TAXABLE YEAR WITH
 RESPECT TO ELIGIBLE  PREMISES  TO  WHICH  THE  TAXPAYER  HAS  RELOCATED;
 PROVIDED, HOWEVER, THAT NO CREDIT SHALL BE ALLOWED FOR THE RELOCATION OF
 ANY RETAIL ACTIVITY OR HOTEL SERVICES. FOR PURPOSES OF THIS SUBDIVISION,
 THE  TERMS  "ELIGIBLE AGGREGATE EMPLOYMENT SHARES", "ELIGIBLE PREMISES",
 "RELOCATE", "RETAIL ACTIVITY" AND "HOTEL SERVICES" SHALL HAVE THE  MEAN-
 INGS ASCRIBED BY SECTION 22-627 OF THIS CODE.
   (B) THE CREDIT ALLOWED UNDER THIS SUBDIVISION WITH RESPECT TO ELIGIBLE
 AGGREGATE EMPLOYMENT SHARES MAINTAINED WITH RESPECT TO ELIGIBLE PREMISES
 TO  WHICH  THE  TAXPAYER  HAS RELOCATED SHALL BE ALLOWED FOR THE TAXABLE
 YEAR OF THE RELOCATION AND FOR ANY OF THE TEN SUCCEEDING  TAXABLE  YEARS
 DURING  WHICH  ELIGIBLE  AGGREGATE EMPLOYMENT SHARES ARE MAINTAINED WITH
 RESPECT TO ELIGIBLE PREMISES; PROVIDED THAT THE CREDIT ALLOWED  FOR  THE
 TENTH  SUCCEEDING  TAXABLE  YEAR  SHALL BE CALCULATED BY MULTIPLYING THE
 NUMBER OF ELIGIBLE AGGREGATE EMPLOYMENT SHARES MAINTAINED  WITH  RESPECT
 TO  ELIGIBLE PREMISES IN THE TENTH SUCCEEDING TAXABLE YEAR BY THE LESSER
 OF ONE AND A FRACTION THE NUMERATOR OF WHICH IS SUCH NUMBER OF  DAYS  IN
 THE  TAXABLE  YEAR  OF  RELOCATION  LESS THE NUMBER OF DAYS THE TAXPAYER
 MAINTAINED EMPLOYMENT SHARES IN ELIGIBLE PREMISES IN THE TAXABLE YEAR OF
 RELOCATION AND THE DENOMINATOR OF WHICH IS THE NUMBER OF  DAYS  IN  SUCH
 TENTH  TAXABLE  YEAR  DURING  WHICH  SUCH  ELIGIBLE AGGREGATE EMPLOYMENT
 SHARES ARE MAINTAINED WITH RESPECT TO SUCH PREMISES.
   (C) EXCEPT AS PROVIDED IN PARAGRAPH (D) OF THIS  SUBDIVISION,  IF  THE
 AMOUNT  OF  THE  CREDIT ALLOWABLE UNDER THIS SUBDIVISION FOR ANY TAXABLE
 YEAR EXCEEDS THE TAX IMPOSED FOR SUCH YEAR, THE EXCESS  MAY  BE  CARRIED
 OVER, IN ORDER, TO THE FIVE IMMEDIATELY SUCCEEDING TAXABLE YEARS AND, TO
 S. 8063--A                         11
 
 THE  EXTENT  NOT PREVIOUSLY DEDUCTIBLE, MAY BE DEDUCTED FROM THE TAXPAY-
 ER'S TAX FOR SUCH YEARS.
   (D)  THE  CREDITS  ALLOWED  UNDER  THIS  SUBDIVISION,  AGAINST THE TAX
 IMPOSED BY THIS CHAPTER FOR THE TAXABLE YEAR OF THE RELOCATION  AND  FOR
 THE  FOUR  TAXABLE YEARS IMMEDIATELY SUCCEEDING THE TAXABLE YEAR OF SUCH
 RELOCATION, SHALL BE DEEMED TO BE OVERPAYMENTS OF TAX BY THE TAXPAYER TO
 BE CREDITED OR  REFUNDED,  WITHOUT  INTEREST,  IN  ACCORDANCE  WITH  THE
 PROVISIONS  OF  SECTION  11-677 OF THIS CHAPTER. FOR SUCH TAXABLE YEARS,
 SUCH CREDITS OR PORTIONS THEREOF MAY NOT BE CARRIED OVER TO ANY SUCCEED-
 ING TAXABLE YEAR.
   (E) THE CREDIT ALLOWABLE UNDER  THIS  SUBDIVISION  SHALL  BE  DEDUCTED
 AFTER  THE  CREDIT  ALLOWED BY SUBDIVISION EIGHTEEN OF THIS SECTION, BUT
 PRIOR TO THE DEDUCTION OF ANY OTHER CREDIT ALLOWED BY THIS SECTION.
   § 10. The opening paragraph of subdivision (b) of  section  22-622  of
 the administrative code of the city of New York, as amended by section 3
 of  part  RR  of  chapter  56 of the laws of 2020, is amended to read as
 follows:
   No eligible business shall be authorized to receive a  credit  against
 tax  or  a reduction in base rent subject to tax under the provisions of
 this chapter, and of title eleven of the code as described  in  subdivi-
 sion (a) of this section, until the premises with respect to which it is
 claiming  the credit meet the requirements in the definition of eligible
 premises and until it has obtained a certification of  eligibility  from
 the  mayor  or  an agency designated by the mayor, and an annual certif-
 ication from the mayor or an agency designated by the mayor  as  to  the
 number of eligible aggregate employment shares maintained by such eligi-
 ble  business that may qualify for obtaining a tax credit for the eligi-
 ble [business']  BUSINESS'S  taxable  year.  Any  written  documentation
 submitted to the mayor or such agency or agencies in order to obtain any
 such  certification shall be deemed a written instrument for purposes of
 section 175.00 of the penal  law.  Application  fees  for  such  certif-
 ications shall be determined by the mayor or such agency or agencies. No
 certification  of eligibility shall be issued to an eligible business on
 or after July first, two thousand [twenty-five] TWENTY-EIGHT unless:
   § 11. The opening paragraph of subdivision (b) of  section  22-624  of
 the administrative code of the city of New York, as amended by section 5
 of  part  RR  of  chapter  56 of the laws of 2020, is amended to read as
 follows:
   No eligible business or special eligible business shall be  authorized
 to  receive  a  credit against tax under the provisions of this chapter,
 and of title eleven of the code as described in subdivision (a) of  this
 section,  until  the  premises  with respect to which it is claiming the
 credit meet the requirements in the definition of eligible premises  and
 until  it  has obtained a certification of eligibility from the mayor or
 an agency designated by the mayor, and an annual certification from  the
 mayor  or an agency designated by the mayor as to the number of eligible
 aggregate employment shares maintained  by  such  eligible  business  or
 special  eligible  business  that may qualify for obtaining a tax credit
 for the eligible [business'] BUSINESS'S taxable year. No special  eligi-
 ble  business  shall be authorized to receive a credit against tax under
 the provisions of this chapter and of title eleven of  the  code  unless
 the  number  of  relocated  employee  base shares calculated pursuant to
 subdivision (o) of section 22-623 of this chapter is equal to or greater
 than the lesser of twenty-five percent of the number of  New  York  city
 base  shares  calculated  pursuant  to  subdivision  (p) of such section
 22-623, and two hundred fifty employment shares. Any written  documenta-
 S. 8063--A                         12
 
 tion  submitted  to  the  mayor  or  such agency or agencies in order to
 obtain any such certification shall be deemed a written  instrument  for
 purposes  of  section 175.00 of the penal law. Application fees for such
 certifications  shall be determined by the mayor or such agency or agen-
 cies. No certification of eligibility shall be  issued  to  an  eligible
 business on or after July first, two thousand [twenty-five] TWENTY-EIGHT
 unless:
   §  12.  Title 22 of the administrative code of the city of New York is
 amended by adding a new chapter 6-E to read as follows:
 
                                CHAPTER 6-E
                 RELOCATION ASSISTANCE CREDIT PER EMPLOYEE
 
 SECTION 22-627 DEFINITIONS.
         22-628 AUTHORIZATION TO PROVIDE RELOCATION ASSISTANCE CREDIT PER
                 EMPLOYEE.
   § 22-627 DEFINITIONS. WHEN USED IN THIS CHAPTER, THE  FOLLOWING  TERMS
 SHALL HAVE THE FOLLOWING MEANINGS:
   (A)  "AGGREGATE  EMPLOYMENT  SHARES"  MEANS  THE SUM OF ALL EMPLOYMENT
 SHARES MAINTAINED BY AN ELIGIBLE BUSINESS IN A TAXABLE YEAR.
   (B) "ELIGIBLE AGGREGATE EMPLOYMENT SHARES" MEANS, IN THE  CASE  OF  AN
 ELIGIBLE  BUSINESS,  THE  AMOUNT, IF ANY, OF AGGREGATE EMPLOYMENT SHARES
 MAINTAINED BY AN ELIGIBLE BUSINESS IN ELIGIBLE PREMISES IN  THE  TAXABLE
 YEAR IN WHICH SUCH ELIGIBLE BUSINESS CLAIMS A CREDIT PURSUANT TO SECTION
 22-628 OF THIS CHAPTER; PROVIDED, HOWEVER, THAT:
   (1) SUCH AMOUNT SHALL NOT EXCEED THE LESSER OF:
   (I)  THE  NUMBER  OF  AGGREGATE  EMPLOYMENT  SHARES MAINTAINED BY SUCH
 ELIGIBLE BUSINESS IN ELIGIBLE PREMISES IN THE TAXABLE YEAR DURING  WHICH
 SUCH ELIGIBLE BUSINESS RELOCATES;
   (II)  THE  MAXIMUM  APPROVED EMPLOYMENT SHARES FOR SUCH ELIGIBLE BUSI-
 NESS; OR
   (III) AN AMOUNT EQUAL TO THE  PRODUCT  OF  MULTIPLYING  THE  AGGREGATE
 EMPLOYMENT  SHARES  AND  THE LINEAR SCALAR FOR SUCH ELIGIBLE BUSINESS IN
 SUCH TAX YEAR; AND
   (2) A FULL-TIME WORK WEEK OR PART-TIME WORK WEEK AT ELIGIBLE  PREMISES
 PRIOR  TO  THE  DATE  OF  RELOCATION  SHALL NOT BE TAKEN INTO ACCOUNT IN
 DETERMINING ELIGIBLE AGGREGATE EMPLOYMENT SHARES.
   (C) "ELIGIBLE BUSINESS" MEANS ANY PERSON  SUBJECT  TO  A  TAX  IMPOSED
 UNDER  CHAPTER  FIVE, SUBCHAPTER TWO, THREE OR THREE-A OF CHAPTER SIX OF
 TITLE ELEVEN OF THIS CODE, THAT:
   (1) HAS BEEN CONDUCTING SUBSTANTIAL BUSINESS OPERATIONS AT ONE OR MORE
 BUSINESS LOCATIONS OUTSIDE OF NEW YORK STATE FOR THE TWENTY-FOUR CONSEC-
 UTIVE MONTHS IMMEDIATELY PRECEDING THE TAXABLE YEAR  DURING  WHICH  SUCH
 ELIGIBLE  BUSINESS RELOCATES BUT HAS NOT MAINTAINED EMPLOYMENT SHARES AT
 PREMISES IN NEW YORK STATE AT ANY TIME DURING THE PERIOD BEGINNING JANU-
 ARY FIRST, TWO THOUSAND TWENTY-FIVE AND ENDING ON THE DATE SUCH BUSINESS
 ENTERS INTO A LEASE OR A CONTRACT TO PURCHASE  THE  PREMISES  THAT  WILL
 QUALIFY AS ELIGIBLE PREMISES PURSUANT TO THIS CHAPTER; AND
   (2)  ON OR AFTER JULY FIRST, TWO THOUSAND TWENTY-FIVE RELOCATES ALL OR
 PART OF SUCH BUSINESS OPERATIONS.
   (D) "ELIGIBLE PREMISES" MEANS ONE  OR  MORE  NON-RESIDENTIAL  PREMISES
 THAT CONSIST OF AT LEAST TEN THOUSAND SQUARE FEET THAT ARE:
   (1) WHOLLY CONTAINED IN REAL PROPERTY LOCATED IN THE CITY OF NEW YORK;
 AND
 S. 8063--A                         13

   (2)  IF  CONTAINED IN REAL PROPERTY WHOLLY CONTAINED IN THE BOROUGH OF
 MANHATTAN, ARE PREMISES FOR WHICH FINAL CERTIFICATES OF  OCCUPANCY  WERE
 ISSUED PRIOR TO JANUARY FIRST, TWO THOUSAND.
   (E)  "EMPLOYMENT  SHARE"  MEANS,  FOR  EACH  EMPLOYEE, PARTNER OR SOLE
 PROPRIETOR OF AN ELIGIBLE BUSINESS, THE SUM OF: (1) THE NUMBER OF  FULL-
 TIME  WORK  WEEKS  WORKED  BY  SUCH EMPLOYEE, PARTNER OR SOLE PROPRIETOR
 DURING THE ELIGIBLE BUSINESS'S TAXABLE YEAR DIVIDED  BY  THE  NUMBER  OF
 WEEKS  IN  THE  TAXABLE YEAR; AND (2) THE NUMBER OF PART-TIME WORK WEEKS
 WORKED BY SUCH EMPLOYEE, PARTNER OR SOLE PROPRIETOR DURING THE  ELIGIBLE
 BUSINESS'S  TAXABLE  YEAR DIVIDED BY AN AMOUNT EQUAL TO TWICE THE NUMBER
 OF WEEKS IN THE TAXABLE YEAR. EMPLOYMENT SHARE SHALL NOT  INCLUDE  FULL-
 TIME OR PART-TIME WORK WEEKS ATTRIBUTABLE TO EMPLOYEES, PARTNERS OR SOLE
 PROPRIETORS  ACQUIRED  BY  AN  ELIGIBLE BUSINESS AS A RESULT OF A MERGER
 WITH, ACQUISITION OF ANOTHER PERSON, OR A TRANSACTION HAVING A  COMPARA-
 BLE  EFFECT, THAT OCCURS AFTER JUNE THIRTIETH, TWO THOUSAND TWENTY-FIVE,
 AND BEFORE THE END OF THE TAXABLE YEAR IN WHICH A CREDIT IS  CLAIMED  BY
 SUCH  ELIGIBLE  BUSINESS  PURSUANT TO THIS SECTION, OR TO SUCCESSORS, IF
 ANY, TO THOSE EMPLOYEES, PARTNERS OR SOLE PROPRIETORS.
   (F) "FULL-TIME WORK WEEK" MEANS A WEEK DURING WHICH AT  LEAST  THIRTY-
 FIVE HOURS OF GAINFUL WORK HAS BEEN PERFORMED BY AN EMPLOYEE, PARTNER OR
 SOLE PROPRIETOR.
   (G)  "HOTEL SERVICES" MEANS ANY SERVICES THAT CONSIST PREDOMINATELY OF
 THE LODGING OF GUESTS AT A BUILDING OR A PORTION THEREOF THAT  IS  REGU-
 LARLY USED AND KEPT OPEN FOR SUCH SERVICES. HOTEL SERVICES SHALL INCLUDE
 THE  LODGING OF GUESTS AT AN APARTMENT HOTEL, A MOTEL, BOARDING HOUSE OR
 CLUB, WHETHER OR NOT MEALS ARE SERVED.
   (H) "LINEAR SCALAR" MEANS, FOR AN ELIGIBLE BUSINESS IN A TAXABLE YEAR,
 THE QUOTIENT OF DIVIDING:
   (1) THE TOTAL SQUARE FOOTAGE OF AN ELIGIBLE PREMISES; BY
   (2) THE PRODUCT OF MULTIPLYING ONE HUNDRED SEVENTY-FIVE BY SUCH  BUSI-
 NESS'S AGGREGATE EMPLOYMENT SHARES.
   (I)  "MAXIMUM  APPROVED  EMPLOYMENT  SHARES" MEANS A LIMITATION ON THE
 AGGREGATE EMPLOYMENT SHARES THAT AN ELIGIBLE BUSINESS MAY RECEIVE IN ANY
 TAXABLE YEAR DETERMINED BY THE MAYOR PURSUANT TO SECTION 22-628 OF  THIS
 CHAPTER  BASED ON DOCUMENTATION SUBMITTED BY SUCH BUSINESS DEMONSTRATING
 SUCH BUSINESS'S INTENTION TO RELOCATE. THE MAXIMUM  APPROVED  EMPLOYMENT
 SHARES  IS  THE  NUMBER  OF  AGGREGATE  EMPLOYMENT  SHARES SUCH BUSINESS
 INTENDS TO RELOCATE AS INDICATED BY THE MAYOR ON THE APPLICABLE  INITIAL
 CERTIFICATION OF ELIGIBILITY.
   (J) "MAYOR" MEANS THE MAYOR, OR AN AGENCY AS DESIGNATED BY THE MAYOR.
   (K)  "PART-TIME  WORK WEEK" MEANS A WEEK DURING WHICH AT LEAST FIFTEEN
 BUT LESS THAN THIRTY-FIVE HOURS OF GAINFUL WORK HAS BEEN PERFORMED BY AN
 EMPLOYEE, PARTNER OR SOLE PROPRIETOR.
   (L) "PERSON" INCLUDES ANY INDIVIDUAL, PARTNERSHIP, ASSOCIATION, JOINT-
 STOCK COMPANY, CORPORATION, ESTATE OR TRUST, LIMITED LIABILITY  COMPANY,
 AND ANY COMBINATION OF THE FOREGOING.
   (M)  "PROGRAM  TOTAL"  MEANS  THE  SUM  OF  MAXIMUM APPROVED AGGREGATE
 EMPLOYMENT SHARES INCLUDED IN ALL INITIAL CERTIFICATION  OF  ELIGIBILITY
 ISSUED BY THE MAYOR.
   (N)  "RELOCATE" MEANS, WITH RESPECT TO AN ELIGIBLE BUSINESS, TO TRANS-
 FER A PRE-EXISTING BUSINESS OPERATION TO AN  ELIGIBLE  PREMISES,  OR  TO
 ESTABLISH  A  NEW  BUSINESS OPERATION AT SUCH PREMISES, PROVIDED THAT AN
 ELIGIBLE BUSINESS SHALL NOT BE DEEMED TO HAVE RELOCATED UNLESS AT  LEAST
 ONE  EMPLOYEE,  PARTNER  OR  SOLE PROPRIETOR OF THE ELIGIBLE BUSINESS IS
 TRANSFERRED TO SUCH PREMISES  FROM  A  PRE-EXISTING  BUSINESS  OPERATION
 CONDUCTED OUTSIDE THE STATE OF NEW YORK. THE DATE OF RELOCATION SHALL BE
 S. 8063--A                         14
 
 THE  FIRST  DAY ON WHICH THE INDIVIDUAL SO TRANSFERRED COMMENCES WORK AT
 SUCH ELIGIBLE PREMISES. THE TAXABLE YEAR  OF  RELOCATION  SHALL  BE  THE
 TAXABLE  YEAR  IN  WHICH  THE DATE OF RELOCATION OCCURS. FOR PURPOSES OF
 THIS CHAPTER, AN ELIGIBLE BUSINESS MAY RELOCATE ONLY ONCE BUT MAY ADD OR
 SUBSTITUTE OTHER ELIGIBLE PREMISES THROUGHOUT SUCH PERIOD.
   (O)  "RETAIL ACTIVITY" MEANS ANY ACTIVITY WHICH CONSISTS PREDOMINATELY
 OF:
   (1) THE SALE, OTHER THAN THROUGH THE MAIL OR BY THE  TELEPHONE  OR  BY
 MEANS  OF  THE  INTERNET, OF TANGIBLE PERSONAL PROPERTY TO A PERSON, FOR
 ANY PURPOSE UNRELATED TO THE TRADE OR BUSINESS OF SUCH PERSON;
   (2) THE SELLING OF A SERVICE TO AN INDIVIDUAL WHICH GENERALLY INVOLVES
 THE PHYSICAL, MENTAL OR SPIRITUAL CARE OF SUCH INDIVIDUAL;
   (3) THE PHYSICAL CARE OF THE PERSONAL PROPERTY OF ANY PERSON UNRELATED
 TO THE TRADE OR BUSINESS OF SUCH PERSON; OR
   (4) THE PROVISION OF A RETAIL BANKING SERVICE.
   § 22-628 AUTHORIZATION TO PROVIDE  RELOCATION  ASSISTANCE  CREDIT  PER
 EMPLOYEE.  (A)  AN  ELIGIBLE BUSINESS THAT RELOCATES SHALL BE ALLOWED TO
 RECEIVE A CREDIT AGAINST A TAX IMPOSED BY CHAPTER FIVE, SUBCHAPTER  TWO,
 THREE  OR  THREE-A  OF  CHAPTER  SIX  OF  TITLE  ELEVEN OF THIS CODE, AS
 DESCRIBED IN SUBDIVISION (R) OF SECTION 11-503, SUBDIVISION  TWENTY-FOUR
 OF  SECTION  11-604,  SECTION  11-643.10,  OR SUBDIVISION TWENTY-FOUR OF
 SECTION 11-654 OF THIS CODE.
   (B) NO ELIGIBLE BUSINESS SHALL  BE  AUTHORIZED  TO  RECEIVE  A  CREDIT
 AGAINST  TAX UNDER THE PROVISIONS OF THIS CHAPTER AND OF TITLE ELEVEN OF
 THIS CODE AS DESCRIBED IN SUBDIVISION (A) OF THIS  SECTION,  UNLESS  THE
 PREMISES  WITH  RESPECT  TO WHICH IT IS CLAIMING THE CREDIT ARE ELIGIBLE
 PREMISES AND UNTIL IT HAS OBTAINED AN INITIAL CERTIFICATION OF ELIGIBIL-
 ITY FROM THE MAYOR AND AN ANNUAL CERTIFICATION FROM THE MAYOR AS TO  THE
 NUMBER OF ELIGIBLE AGGREGATE EMPLOYMENT SHARES MAINTAINED BY SUCH ELIGI-
 BLE  BUSINESS THAT MAY QUALIFY FOR OBTAINING A TAX CREDIT FOR THE ELIGI-
 BLE BUSINESS'S TAXABLE YEAR. EACH INITIAL CERTIFICATION  OF  ELIGIBILITY
 SHALL  INCLUDE  THE  MAXIMUM APPROVED EMPLOYMENT SHARES FOR THE ELIGIBLE
 BUSINESS, WHICH SHALL NOT EXCEED FIVE  HUNDRED  EMPLOYMENT  SHARES.  ANY
 WRITTEN DOCUMENTATION SUBMITTED TO THE MAYOR IN ORDER TO OBTAIN ANY SUCH
 CERTIFICATION  SHALL  BE  DEEMED  A  WRITTEN  INSTRUMENT FOR PURPOSES OF
 SECTION 175.00 OF THE PENAL LAW. AN APPLICATION  FEE  FOR  SUCH  CERTIF-
 ICATION  SHALL  BE  DETERMINED BY THE MAYOR. NO INITIAL CERTIFICATION OF
 ELIGIBILITY SHALL BE ISSUED TO AN ELIGIBLE BUSINESS  ON  OR  AFTER  JULY
 FIRST, TWO THOUSAND TWENTY-EIGHT UNLESS:
   (1)  PRIOR TO SUCH DATE SUCH BUSINESS HAS PURCHASED, LEASED OR ENTERED
 INTO A CONTRACT TO PURCHASE OR LEASE ELIGIBLE PREMISES;
   (2) PRIOR TO SUCH DATE SUCH BUSINESS SUBMITS A PRELIMINARY APPLICATION
 FOR AN INITIAL CERTIFICATION OF ELIGIBILITY TO SUCH MAYOR  WITH  RESPECT
 TO A PROPOSED RELOCATION TO SUCH PREMISES;
   (3)  SUCH  BUSINESS  ENTERS  INTO  A  LEASE OR CONTRACT TO PURCHASE AN
 ELIGIBLE PREMISES BETWEEN THE  DATE  THAT  SUCH  BUSINESS  SUBMITS  SUCH
 PRELIMINARY APPLICATION AND THREE MONTHS THEREAFTER; AND
   (4) SUCH BUSINESS RELOCATES TO SUCH PREMISES NOT LATER THAN THIRTY-SIX
 MONTHS FROM THE DATE OF SUBMISSION OF SUCH PRELIMINARY APPLICATION.
   (C)  NOTWITHSTANDING  ANY  PROVISION OF LAW TO THE CONTRARY, THE MAYOR
 SHALL NOT ISSUE AN INITIAL CERTIFICATION OF ELIGIBILITY THAT WOULD CAUSE
 THE PROGRAM TOTAL TO EXCEED THREE THOUSAND MAXIMUM  APPROVED  EMPLOYMENT
 SHARES.  THE  MAYOR  SHALL  APPROVE  SUCH  APPLICATIONS ON A FIRST-COME,
 FIRST-SERVE BASIS AMONG ELIGIBLE BUSINESSES  IN  ACCORDANCE  WITH  RULES
 PROMULGATED PURSUANT TO SUBDIVISION (D) OF THIS SECTION. THE MAYOR SHALL
 INCLUDE  ON  THE  MAYOR'S  WEBSITE  AN  INDICATION REGARDING WHETHER THE
 S. 8063--A                         15
 
 PROGRAM TOTAL HAS REACHED THREE  THOUSAND  MAXIMUM  APPROVED  EMPLOYMENT
 SHARES.
   (D)  THE MAYOR SHALL BE AUTHORIZED TO PROMULGATE RULES AND REGULATIONS
 TO ADMINISTER AND ENSURE COMPLIANCE WITH THE PROVISIONS OF THIS CHAPTER,
 INCLUDING BUT NOT LIMITED TO RULES AND REGULATIONS TO PROVIDE FOR ALTER-
 NATIVE METHODS TO MEASURE EMPLOYMENT SHARES IN INSTANCES WHERE AN ELIGI-
 BLE BUSINESS IS NOT REQUIRED BY LAW TO MAINTAIN WEEKLY RECORDS OF  FULL-
 TIME  WORK WEEKS AND PART-TIME WORK WEEKS OF EMPLOYEES, PARTNERS OR SOLE
 PROPRIETORS.
   (E) FOR THE DURATION OF THE BENEFIT PERIOD, THE RECIPIENT OF A  CREDIT
 SHALL  FILE  AN APPLICATION FOR AN ANNUAL CERTIFICATION EACH YEAR DEMON-
 STRATING SUCH RECIPIENT'S ELIGIBILITY FOR SUCH CREDIT  AND  THE  AVERAGE
 WAGE  AND BENEFITS OFFERED TO THE APPLICABLE RELOCATED EMPLOYEES USED IN
 DETERMINING ELIGIBLE AGGREGATE EMPLOYMENT SHARES. SUCH MAYOR SHALL  HAVE
 THE AUTHORITY TO REQUIRE THAT STATEMENTS FILED UNDER THIS SUBDIVISION BE
 FILED ELECTRONICALLY AND THAT SUCH STATEMENTS BE CERTIFIED.
   §  13.  No  later  than  April first of each year, the mayor of a city
 which has adopted a local law authorized under article 2-H, article 2-J,
 or article 2-K of the general city law, also known as the relocation and
 employment  assistance  program,  the  lower  Manhattan  relocation  and
 employment  assistance program, and the relocation assistance credit per
 employee program shall submit a report to the  governor,  the  temporary
 president  of  the  senate, and the speaker of the assembly. Such report
 shall include, but need not be limited to, the following information for
 each assistance program for the most recent taxable year:
   (a) the total number of eligible businesses or special eligible  busi-
 nesses that applied for a certificate of eligibility;
   (b)  the  number of eligible businesses or special eligible businesses
 that received a certificate of eligibility;
   (c) the number of eligible businesses or special  eligible  businesses
 that were denied a certificate of eligibility;
   (d) the total number of credits received by all eligible businesses or
 special eligible businesses and the aggregate employment shares for each
 eligible business or special eligible business;
   (e)  the  number of eligible businesses or special eligible businesses
 that received a credit in each borough of a  city  that  has  adopted  a
 local  law  pursuant  to  article 2-H or article 2-J of the general city
 law;
   (f) the borough, municipality, or  state  each  eligible  business  or
 special eligible business that received a credit relocated from, and the
 eligible  area or eligible lower Manhattan area, as applicable, that the
 eligible businesses or special eligible businesses relocated to and  the
 year in which such relocation occurred; and
   (g) any such other information considered relevant by the mayor.
   Such report shall be made publicly available on such city's website on
 the same day the report is submitted.
   §  14. This act shall take effect July 1, 2025; provided however, that
 section thirteen of this act shall expire and be deemed repealed on  and
 after January 1, 2031.