Bill Title: Eliminates the $100,000 limit on certain types of investments in empire zone businesses, which may be taken as credits against the franchise tax on business corporations and personal income taxes; authorizes the owners of empire zone businesses to receive franchise tax on business corporations or personal income tax credits for qualified investments made in such businesses; grants a personal income tax credit for lease payments on and improvements made to a certified empire zone business; requires that prior to the designation of an empire zone capital corporation, a separate and distinct zone capital corporation fund must be established for the receipt and disbursement of the funds of the corporation; authorizes empire zone capital corporations to be created as limited liability companies; establishes real property tax relief program in cities and counties; creates tax relief program to provide state grants to municipalities which reduce spending; establishes a statewide municipal cooperation program to provide opportunities for sharing of municipal obligations and responsibilities.

Spectrum: Moderate Partisan Bill (Republican 5-1)

Status: (Introduced - Dead) 2012-01-04 - referred to real property taxation [A02050 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2011-05-26	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for New York A02050

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for New York A02050 currently on file.

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