STATE OF NEW YORK
________________________________________________________________________
7609
IN SENATE
May 11, 2016
___________
Introduced by Sen. RANZENHOFER -- read twice and ordered printed, and
when printed to be committed to the Committee on Investigations and
Government Operations
AN ACT to reinstate certain entities as empire zone business enterprises
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 section 687 of the tax
2 law, an empire zone enterprise certified pursuant to article 18-B of the
3 general municipal law, decertified on or after April 1, 2009 pursuant to
4 subdivision (w) of section 959 of the general municipal law, and rein-
5 stated into the empire zones program after a determination by the New
6 York State Supreme Court, Appellate Division that the empire zone enter-
7 prise was improperly decertified, is entitled to any benefits, tax cred-
8 its or refunds due for tax years beginning on or after January 1, 2009.
9 Notwithstanding any section of law to the contrary, any claim for
10 reduction in taxes and/or refunds for tax years beginning on or after
11 January 1, 2009, for any such entity, or for any individual who is a
12 shareholder, partner or member of such entity, shall be deemed, for the
13 purposes of section 687 of the tax law, to have been made timely with
14 such credits allowed, and any overpayment of tax or refund of tax cred-
15 its shall be paid.
16 § 2. This act shall take effect immediately and shall only apply to
17 taxable years beginning on and after January 1, 2009.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13897-01-6
