S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9423

                          I N  A S S E M B L Y

                             April 29, 2014
                               ___________

Introduced  by  M.  of A. SCHIMMINGER -- (at request of the Empire State
  Development) -- read once and referred to the  Committee  on  Economic
  Development

AN ACT to amend the economic development law, in relation to the excels-
  ior jobs program and eligible business entities

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Subdivisions 6, 7, 8, 9, 10, 11, 12, 13, 14, 15,  16,  17,
18  and 19 of section 352 of the economic development law are renumbered
subdivisions 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19 and 20  and
a new subdivision 6 is added to read as follows:
  6.  "CORPORATE  HEADQUARTERS"  MEANS  A PLACE WHERE THE EXECUTIVES AND
SENIOR MANAGERS OF A COMPANY OR BUSINESS UNIT DIRECT, CONTROL AND  COOR-
DINATE  THE  OPERATIONS  OF THE COMPANY OR BUSINESS UNIT AS A WHOLE ON A
DAY-TO-DAY BASIS. IT IS THE PART OF A CORPORATE STRUCTURE THAT  COMMONLY
DEALS  WITH IMPORTANT TASKS SUCH AS STRATEGIC PLANNING, CORPORATE COMMU-
NICATIONS, TAXES, LAW, MARKETING, FINANCE, HUMAN RESOURCES, AND INFORMA-
TION TECHNOLOGY. THESE TASKS INCLUDE ALL CORPORATE  FUNCTIONS  NECESSARY
TO STEER THE FIRM BY DEFINING AND ESTABLISHING CORPORATE POLICY.
  S 2. Subdivision 15 of section 352 of the economic development law, as
added  by  section 1 of part MM of chapter 59 of the laws of 2010 and as
renumbered by section one of this act, is amended to read as follows:
  15. "Regionally significant project" means (a) a manufacturer creating
at least fifty net new jobs in the state and making significant  capital
investment in the state; (b) a business creating at least twenty net new
jobs  in agriculture in the state and making significant capital invest-
ment in the state, (c) a financial services firm,  distribution  center,
[or]  back  office operation OR CORPORATE HEADQUARTERS creating at least
three hundred net new jobs in the state and making  significant  capital
investment  in  the  state, or (d) a scientific research and development
firm creating at least twenty net new jobs  in  the  state,  and  making
significant  capital  investment in the state. Other businesses creating
three hundred or more net new jobs in the state and  making  significant
capital  investment  in  the  state  may  be  considered  eligible  as a

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

                                                           LBD13910-02-4

A. 9423                             2

regionally significant project by the commissioner as well. The  commis-
sioner  shall  promulgate  regulations pursuant to section three hundred
fifty-six of this article  to  determine  what  constitutes  significant
capital  investment for each of the project categories indicated in this
subdivision and what additional criteria a  business  must  meet  to  be
eligible as a regionally significant project, including, but not limited
to,  whether a business exports a substantial portion of its products or
services outside of the state or outside of a  metropolitan  statistical
area or county within the state.
  S 3. Paragraphs (g) and (h) of subdivision 1, and subdivisions 3 and 4
of  section  353 of the economic development law, paragraphs (g) and (h)
of subdivision 1 as amended by section 2 of part G of chapter 61 of  the
laws  of 2011 and subdivisions 3 and 4 as amended by section 1 of part C
of chapter 68 of the laws of 2013, are amended to read as follows:
  (g) in a distribution center; [or]
  (h) IN A CORPORATE HEADQUARTERS; OR
  (I) in an  industry  with  significant  potential  for  private-sector
economic  growth  and  development  in  this state as established by the
commissioner in regulations promulgated pursuant  to  this  article.  In
promulgating  such  regulations  the  commissioner shall include job and
investment criteria.
  3. For the purposes of this article, in order to  participate  in  the
excelsior  jobs  program,  a  business entity operating predominantly in
manufacturing must create at least ten net new jobs; a  business  entity
operating predominately in agriculture must create at least five net new
jobs;  a  business entity operating predominantly as a financial service
data center or financial services customer back  office  operation  must
create at least fifty net new jobs; a business entity operating predomi-
nantly  in scientific research and development must create at least five
net new jobs; a business  entity  operating  predominantly  in  software
development  must  create  at least five net new jobs; a business entity
creating or expanding back office operations must create at least  fifty
net  new  jobs;  A BUSINESS ENTITY OPERATING AS A CORPORATE HEADQUARTERS
MUST CREATE AT LEAST ONE HUNDRED NET NEW  JOBS;  or  a  business  entity
operating  predominantly  as  a  distribution  center  in the state must
create at least seventy-five net new jobs,  notwithstanding  subdivision
five  of this section; or a business entity must be a regionally signif-
icant project as defined in this article; or
  4. A business entity operating predominantly in one of the  industries
referenced  in  paragraphs  (a)  through [(h)] (I) of subdivision one of
this section but which does not meet the job requirements of subdivision
three of this section must  have  at  least  twenty-five  full-time  job
equivalents unless such business is a business entity operating predomi-
nantly  in  manufacturing  then  it must have at least ten full-time job
equivalents and must demonstrate that its benefit-cost ratio is at least
ten to one.
  S 4. This act shall take effect immediately.