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S07484 Summary:

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S07484 Floor Votes:

S07484 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         7484--A
 
                    IN SENATE
 
                                      May 25, 2012
                                       ___________
 
        Introduced  by  Sen.  SALAND -- read twice and ordered printed, and when
          printed to be committed to the Committee on Investigations and Govern-
          ment  Operations  --  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, any payment in lieu of taxes made by a quali-
     3  fied  empire zone enterprise to the state, a municipal corporation, or a
     4  public benefit corporation pursuant to its lease agreement for  property
     5  located at 176 Rinaldi Boulevard, Poughkeepsie, New York with a landlord
     6  that  is  a  party  to  a payment in lieu of taxes agreement between the
     7  landlord and the state, municipal corporation, or public benefit  corpo-
     8  ration  shall  be deemed, for the purposes of subdivision (e) of section
     9  15 of the tax law, to have been made pursuant to a payment  in  lieu  of
    10  taxes agreement with the state, municipal corporation, or public benefit

    11  corporation.  Such qualified empire zone enterprise shall be eligible to
    12  claim the real property tax credit provided by section 15 of the tax law
    13  provided that for each of such periods, the landlord  has  not  filed  a
    14  claim  for  the  real  property  tax credit for such payments nor made a
    15  payment in lieu of taxes to the state, municipal corporation, or  public
    16  benefit  corporation pursuant to its agreement with the state, municipal
    17  corporation, or public benefit corporation for such payments.   Notwith-
    18  standing  any section of law to the contrary, such credit shall be based
    19  upon the payments in lieu of taxes and employment of the tenant.
    20    § 2. This act shall take effect immediately and shall apply to taxable
    21  years beginning on and after January 1, 2008.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets

                              [ ] is old law to be omitted.
                                                                   LBD16007-02-2