Assembly Bill A7100

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

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Archive: Last Bill Status - 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-A7100 (ACTIVE) - Details

See Senate Version of this Bill:
S5280
Law Section:
Taxation

2017-A7100 (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-A7100 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7100
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               April 4, 2017
                                ___________
 
 Introduced  by  M.  of  A.  FITZPATRICK -- read once and referred to the
   Committee on Ways and Means
 
 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.
                                                            LBD10704-01-7

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