§ 25-ee. Authorization to provide relocation and employment assistance
credits in Lower Manhattan. (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 as defined in
subdivision (j) of section twenty-five-dd of this article or a special
eligible business that relocates as defined in subdivision (m) of
section twenty-five-dd of this article 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 or a gross receipts tax imposed under
a local law enacted pursuant to subdivision (a) of section twelve
hundred one of the tax law. The amount of such credit shall be
determined by multiplying three 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-i of part two of section one, or paragraph two of subdivision (k)
of section one hundred one of section two of chapter seven hundred
seventy-two of the laws of nineteen hundred sixty-six, or pursuant to
the provisions of a local law enacted pursuant to subdivision (a) of
section twelve hundred one of the tax law, for up to thirteen
consecutive taxable years beginning with the taxable year in which the
eligible business relocates as defined in subdivision (j) of section
twenty-five-dd of this article; provided that no such credit shall be
allowed for the relocation of any retail activity or hotel services.

(b) 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 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 or such special eligible business
that may qualify for obtaining a tax credit for the eligible business'
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
subdivision (o) of section twenty-five-dd of this article 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
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
application 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 unless:

(1) prior to such date such business has purchased, leased or entered
into a contract to purchase or lease premises in the eligible Lower
Manhattan area or a parcel on which will be constructed such premises;

(2) prior to such date improvements have been commenced on such
premises or parcel, which improvements will meet the requirements of
subdivision (e) of section twenty-five-dd of this article relating to
expenditures for improvements;

(3) prior to such date such business submits a preliminary application
for a certification of eligibility to such mayor or such agency or
agencies with respect to a proposed relocation to such premises; and

(4) such business relocates to such premises as provided in
subdivision (j) of section twenty-five-dd of this article not later than
thirty-six months or, in a case in which the expenditures made for the
improvements specified in paragraph two of this subdivision are in
excess of fifty million dollars within seventy-two months from the date
of submission of such preliminary application.

(c) Such mayor or any agency or agencies designated by such mayor
shall be authorized to promulgate rules and regulations to administer
and assure compliance with the provisions of this article, including but
not limited to rules and regulations to provide for alternative methods
to measure employment shares in instances where an eligible 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 as
defined in subdivision (g) of section twenty-five-dd of this article.

(d) An eligible business, or a special eligible business, other than a
utility company subject to the supervision of the department of public
service shall not be authorized to receive a credit against a tax
imposed pursuant to the provisions of a local law enacted pursuant to
subdivision (a) of section twelve hundred one of the tax law unless such
eligible business or special eligible business elects to take the credit
authorized by this section against the tax imposed by such local law on
its application filed with such mayor or the agency designated by such
mayor pursuant to subdivision (b) of this section. The election
authorized by this subdivision may not be withdrawn after the issuance
of such certification of eligibility. No taxpayer that has previously
received a certification of eligibility to receive such credit against
any 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 may make the election authorized
by this subdivision. No taxpayer that makes the election provided in
this subdivision shall be authorized to take such credit against any 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.

(e) For the duration of the benefit period, the recipient of benefits
shall file annually, along with the aforementioned original and annual
certificates of eligibility, the average wage and benefits offered to
the applicable relocated employees used in determining eligible
aggregate employment shares, pursuant to subdivision (i) of section
twenty-five-y of this chapter. The department shall have the authority
to require that statements filed under this subdivision be certified.