New York Assembly Bill 5407 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 13 2009 - 25% progression, died in committee
Action: 2010-07-01 - held for consideration in ways and means
Pending: Assembly Ways and Means Committee
Text: Latest bill text (Introduced) [HTML]

The Centers would be modeled after the Empire Zone program. R&D businesses locating in the Center could qualify for the following benefits: a wage credit for new R&D jobs they create; a credit for a portion of their R&D expenses; a credit to reimburse the business for property taxes; a credit for contributions to New York universities to conduct research; an enhancement to their investment tax credit; and an income tax exclusion for a portion of their R&D derived income. In addition, R&D businesses that establish new manufacturing facilities in New York would qualify for Empire Zone benefits for these new facilities regardless of where in the State they are located.

An act to amend the general municipal law, in relation to the creation of research and development centers; to amend the tax law, in relation to providing tax credits and benefits for research and development enterprises, qualified research production facilities; and to provide a research and development wage, expense and grant tax credit and a certified research and development enterprise credit for real property taxes

Asm. Marc Butler [R]

Date	Chamber	Action
2010-07-01		held for consideration in ways and means
2010-01-06		referred to ways and means
2009-02-13		referred to ways and means

Type	Source
Summary	https://assembly.state.ny.us/leg/?default_fld=&bn=A05407&term=2009&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y
Text	https://assembly.state.ny.us/leg/?default_fld=&bn=A05407&term=2009&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A05407