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.
STATE OF NEW YORK
________________________________________________________________________
4401
2015-2016 Regular Sessions
IN SENATE
March 18, 2015
___________
Introduced by Sens. BOYLE, CROCI -- read twice and ordered printed, and
when printed to be committed to the Committee on Investigations and
Government Operations
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 85 Saxon Avenue,
4 Bay Shore, 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. Notwithstanding the provisions of sections 687 or 1087 of the tax
19 law or any other provision to the contrary, a claim for a credit or
20 refund may be filed by the taxpayer with respect to the property located
21 at 85 Saxon Avenue, Bay Shore, New York, for taxable years January 1,
22 2009 through December 31, 2011 where the taxpayer is a qualified empire
23 zone enterprise.
24 § 3. This act shall take effect immediately and shall apply to taxable
25 years beginning on or after January 1, 2009 and before January 1, 2012.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09765-01-5
