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A08725 Summary:

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A08725 Floor Votes:

A08725 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         8725--A
 
                   IN ASSEMBLY
 
                                    February 5, 2014
                                       ___________
 
        Introduced by M. of A. STIRPE -- read once and referred to the Committee
          on  Real  Property  Taxation  --  committee  discharged, bill amended,
          ordered reprinted as amended and recommitted to said committee
 
        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:
 

     1    Section  1.  Notwithstanding  the  provisions  of  subdivision  (e) of
     2  section 15 of the tax law, with respect to any payment of taxes  imposed
     3  on  real property with respect to property located at 111 Windsor Place,
     4  Islip, New York, with respect to a lessee that  is  a  qualified  empire
     5  zone enterprise, such taxes shall be deemed to be eligible real property
     6  taxes  with respect to such lessee and (1) such taxes shall be deemed to
     7  have been paid by the lessee pursuant  to  explicit  requirements  in  a
     8  written lease, (2) shall be deemed to become a lien on the real property
     9  during  a  taxable year in which the lessee of the real property is both
    10  certified pursuant to article 18-B of the general municipal  law  and  a
    11  qualified  empire zone enterprise, and (3) the lessee shall be deemed to
    12  have made direct payment of such taxes to the taxing  authority  and  to

    13  have  received  a  receipt  for  such  payment  of taxes from the taxing
    14  authority.  Such qualified empire zone enterprise shall be  eligible  to
    15  claim the real property tax credit provided by section 15 of the tax law
    16  provided  that  for  each  of such periods, the landlord has not filed a
    17  claim for the real property tax credit for such payments.
    18    § 2. This act shall take effect immediately and shall apply to taxable
    19  years beginning on or after January 1, 2005 and before January 1, 2014.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13286-05-4