Senate Bill S3364

2017-2018 Legislative Session

Enacts the corporate accountability for tax expenditures act

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee


  • 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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Bill Amendments

co-Sponsors

2017-S3364 - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Business Corporation Law
Laws Affected:
Add Art 14 §§1401 - 1405, BC L; add Art 10-E §§3980 - 3984, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: S750
2011-2012: S446
2013-2014: S3449
2015-2016: S3109
2019-2020: S1923
2021-2022: S1038
2023-2024: S1146

2017-S3364 - Summary

Enacts the corporate accountability for tax expenditures act; standardizes applications for state development assistance for empire zone assistance and industrial development agency assistance; requires submission of certain development assistance agreements to the department of taxation and finance; requires recipients of certain development assistance to submit progress reports which include certain information and disclosures

2017-S3364 - Sponsor Memo

2017-S3364 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3364
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 23, 2017
                                ___________
 
 Introduced  by  Sens.  KRUEGER, BAILEY, PARKER -- read twice and ordered
   printed, and when printed to be committed to the Committee  on  Corpo-
   rations, Authorities and Commissions
 
 AN  ACT to amend the business corporation law and the public authorities
   law, in relation to enacting the  "corporate  accountability  for  tax
   expenditures act"

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Short title.  This act shall be known and may be  cited  as
 the "corporate accountability for tax expenditures act".
   §  2.  The business corporation law is amended by adding a new article
 14 to read as follows:
                                 ARTICLE 14
               CORPORATE ACCOUNTABILITY FOR TAX EXPENDITURES
 SECTION 1401. DEFINITIONS.
         1402. UNIFIED ECONOMIC DEVELOPMENT BUDGET.
         1403. STANDARDIZED APPLICATIONS FOR  STATE  DEVELOPMENT  ASSIST-
                 ANCE.
         1404. STATE DEVELOPMENT ASSISTANCE DISCLOSURE.
         1405. RECAPTURE.
 § 1401. DEFINITIONS.
   AS USED IN THIS ARTICLE:
   (A) "BASE YEARS" MEANS THE FIRST TWO COMPLETE CALENDAR YEARS FOLLOWING
 THE EFFECTIVE DATE OF A RECIPIENT RECEIVING DEVELOPMENT ASSISTANCE.
   (B) "DATE OF ASSISTANCE" MEANS THE COMMENCEMENT DATE OF THE ASSISTANCE
 AGREEMENT,  WHICH DATE TRIGGERS THE PERIOD DURING WHICH THE RECIPIENT IS
 OBLIGATED TO CREATE OR  RETAIN  JOBS  AND  CONTINUE  OPERATIONS  AT  THE
 SPECIFIC PROJECT SITE.
   (C)  "DEFAULT"  MEANS  THAT  A  RECIPIENT  HAS  NOT  ACHIEVED  ITS JOB
 CREATION, JOB RETENTION, OR WAGE OR BENEFIT GOALS, AS APPLICABLE, DURING
 THE PRESCRIBED PERIOD THEREFOR.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

2017-S3364A (ACTIVE) - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Business Corporation Law
Laws Affected:
Add Art 14 §§1401 - 1405, BC L; add Art 10-E §§3980 - 3984, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: S750
2011-2012: S446
2013-2014: S3449
2015-2016: S3109
2019-2020: S1923
2021-2022: S1038
2023-2024: S1146

2017-S3364A (ACTIVE) - Summary

Enacts the corporate accountability for tax expenditures act; standardizes applications for state development assistance for empire zone assistance and industrial development agency assistance; requires submission of certain development assistance agreements to the department of taxation and finance; requires recipients of certain development assistance to submit progress reports which include certain information and disclosures

2017-S3364A (ACTIVE) - Sponsor Memo

2017-S3364A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3364--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 23, 2017
                                ___________
 
 Introduced  by  Sens.  KRUEGER, BAILEY, PARKER -- read twice and ordered
   printed, and when printed to be committed to the Committee  on  Corpo-
   rations,  Authorities  and Commissions -- recommitted to the Committee
   on Corporations, Authorities and Commissions in accordance with Senate
   Rule  6,  sec.  8  --  committee  discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee
 
 AN  ACT to amend the business corporation law and the public authorities
   law, in relation to enacting the  "corporate  accountability  for  tax
   expenditures act"
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Short title.  This act shall be known and may be  cited  as
 the "corporate accountability for tax expenditures act".
   §  2.  The business corporation law is amended by adding a new article
 14 to read as follows:
                                 ARTICLE 14
               CORPORATE ACCOUNTABILITY FOR TAX EXPENDITURES
 SECTION 1401. DEFINITIONS.
         1402. UNIFIED ECONOMIC DEVELOPMENT BUDGET.
         1403. STANDARDIZED APPLICATIONS FOR  STATE  DEVELOPMENT  ASSIST-
                 ANCE.
         1404. STATE DEVELOPMENT ASSISTANCE DISCLOSURE.
         1405. RECAPTURE.
 § 1401. DEFINITIONS.
   AS USED IN THIS ARTICLE:
   (A) "BASE YEARS" MEANS THE FIRST TWO COMPLETE CALENDAR YEARS FOLLOWING
 THE EFFECTIVE DATE OF A RECIPIENT RECEIVING DEVELOPMENT ASSISTANCE.
   (B) "DATE OF ASSISTANCE" MEANS THE COMMENCEMENT DATE OF THE ASSISTANCE
 AGREEMENT,  WHICH DATE TRIGGERS THE PERIOD DURING WHICH THE RECIPIENT IS
 OBLIGATED TO CREATE OR  RETAIN  JOBS  AND  CONTINUE  OPERATIONS  AT  THE
 SPECIFIC PROJECT SITE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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