Bill Text: NY S00853 | 2017-2018 | General Assembly | Introduced

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Bill Title: Reduces the number of new jobs which must be created by an applicant for eligibility under the excelsior jobs program.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2018-01-03 - REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS [S00853 Detail]

Download: New_York-2017-S00853-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                           853
                               2017-2018 Regular Sessions
                    IN SENATE
                                     January 5, 2017
                                       ___________
        Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
          printed to be committed to the Committee on Commerce, Economic  Devel-
          opment and Small Business
        AN ACT to amend the economic development law, in relation to eligibility
          to participate in the excelsior jobs program
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subdivision 16 of section 352 of the  economic  development
     2  law,  as  amended  by  section  1 of part K of chapter 59 of the laws of
     3  2015, is amended and a new subdivision 20-a is added to read as follows:
     4    16. "Regionally significant project" means (a) a manufacturer creating
     5  at least [fifty] ten net new jobs in the state  and  making  significant
     6  capital investment in the state; (b) a business creating at least [twen-
     7  ty]  ten net new jobs in agriculture in the state and making significant
     8  capital investment in the state, (c) a financial services firm, distrib-
     9  ution center, or back office operation creating  at  least  [three]  one
    10  hundred net new jobs in the state and making significant capital invest-
    11  ment in the state, (d) a scientific research and development firm creat-
    12  ing  at least [twenty] ten net new jobs in the state, and making signif-
    13  icant capital investment in the state or (e)  an  entertainment  company
    14  creating or obtaining at least two hundred net new jobs in the state and
    15  making  significant  capital  investment  in the state. Other businesses
    16  creating [three] one hundred fifty or more net new jobs in the state and
    17  making significant capital investment in the  state  may  be  considered
    18  eligible  as  a  regionally  significant  project by the commissioner as
    19  well. The commissioner shall promulgate regulations pursuant to  section
    20  three  hundred  fifty-six of this article to determine [what constitutes
    21  significant capital investment for each of the project categories  indi-
    22  cated  in this subdivision and] what additional criteria a business must
    23  meet to be eligible as a regionally significant project, including,  but
    24  not  limited to, whether a business exports a substantial portion of its
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06232-01-7
        S. 853                              2
     1  products or services outside of the state or outside of  a  metropolitan
     2  statistical area or county within the state.
     3    20-a.  "Significant  capital investment" means a project which will be
     4  either a newly constructed facility or a newly constructed addition  to,
     5  expansion  of  or  improvement  of  a  facility,  consisting of tangible
     6  personal property and other tangible property, including  buildings  and
     7  structural  components  of  buildings,  that are depreciable pursuant to
     8  section one hundred sixty-seven of the internal  revenue  code,  have  a
     9  useful  life  of four years or more, are acquired by purchase as defined
    10  in section one hundred seventy-nine (d) of the  internal  revenue  code,
    11  and  that  is equal to or exceeds (a) one million dollars for a manufac-
    12  turer; (b) two hundred fifty thousand dollars for an  agriculture  busi-
    13  ness;  (c)  three  million dollars for a financial services firm or back
    14  office operation; (d) fifteen million dollars for a distribution center;
    15  (e) three million dollars for  a  scientific  research  and  development
    16  firm; or (f) three million dollars for other businesses.
    17    §  2.  Subdivisions 3 and 4 of section 353 of the economic development
    18  law, subdivision 3 as amended by section 2 of part K of  chapter  59  of
    19  the  laws of 2015 and subdivision 4 as amended by section 1 of part C of
    20  chapter 68 of the laws of 2013, are amended to read as follows:
    21    3. For the purposes of this article, in order to  participate  in  the
    22  excelsior  jobs  program,  a  business entity operating predominantly in
    23  manufacturing must create at least [ten] five net new jobs;  a  business
    24  entity  operating predominately in agriculture must create at least five
    25  net new jobs; a business entity operating predominantly as  a  financial
    26  service data center or financial services customer back office operation
    27  must create at least [fifty] twenty-five net new jobs; a business entity
    28  operating  predominantly  in  scientific  research  and development must
    29  create at least five net new jobs; a business entity operating  predomi-
    30  nantly in software development must create at least five net new jobs; a
    31  business entity creating or expanding back office operations must create
    32  at  least  [fifty] twenty-five net new jobs; a business entity operating
    33  predominately in music production must create  at  least  five  net  new
    34  jobs;  a  business  entity  operating  predominantly as an entertainment
    35  company must create or obtain at least one hundred net new  jobs;  or  a
    36  business  entity operating predominantly as a distribution center in the
    37  state must create at least [seventy-five] fifty net new  jobs,  notwith-
    38  standing  subdivision five of this section; or a business entity must be
    39  a regionally significant project as defined in this article; or
    40    4. A business entity operating predominantly in one of the  industries
    41  referenced  in  paragraphs  (a)  through  (h) of subdivision one of this
    42  section but which does not meet  the  job  requirements  of  subdivision
    43  three  of  this  section  must  have  at least twenty-five full-time job
    44  equivalents unless such business is a business entity operating predomi-
    45  nantly in manufacturing then it must have at least [ten] five  full-time
    46  job  equivalents  and must demonstrate that its benefit-cost ratio is at
    47  least ten to one.
    48    § 3. This act shall take effect immediately.