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S07444 Summary:
| BILL NO | S07444 |
| SAME AS | SAME AS UNI. A11459 |
| SPONSOR | PADAVAN |
| COSPNSR | GOLDEN, MALTESE, MARCHI, MENDEZ, MALTESE |
| MLTSPNSR | |
| Amd SS25-y & 25-z, add Art 2-J SS25-dd & 25-ee, Gen City L; amd SS1 & 2, Chap 772 of 1966; amdSS11-503, 11-604, 11-643.7, 11-1105.2, 11-1105.3, 22-621 & 22-622, add S11-643.9, Title 22 Chap6-C SS22-623 & 22-624, NYC Ad Cd | |
| Clarifies that a limited liability company (LLC) is included in the definition of "person" as it relates to REAP; includes sales by means of the Internet as an exception to the rule that retail businesses are generally not eligible for REAP benefits; establishes an additional basis for qualifying a premises as eligible for REAP; increases the maximum number of employees for which a smaller business can claim a credit; establishes portability, a process by which a firm receiving REAP benefits may continue to receive REAP benefits after moving to a second premises that have been improved and certified as designated additional or replacement premises; provides for discretion for the Mayor to reduce or eliminate the REAP benefits for eligible businesses that move more than one hundred jobs out of lower Manhattan; provides benefits similar to the REAP program to businesses that relocate at least one employee from outside New York city to the eligible lower Manhattan area. | |