Bill Text: NY S06193 | 2013-2014 | General Assembly | Amended

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Bill Title: Relates to a certain agreement for a payment in lieu of taxes with respect to a lessee that is a qualified empire zone enterprise of certain real property.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2014-06-10 - SUBSTITUTED BY A8725A [S06193 Detail]

Download: New_York-2013-S06193-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        6193--B
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 8, 2014
                                      ___________
       Introduced  by Sens. DeFRANCISCO, SMITH -- read twice and ordered print-
         ed, and when printed to be committed to the Committee on Local Govern-
         ment -- committee  discharged,  bill  amended,  ordered  reprinted  as
         amended  and  recommitted  to  said committee -- 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, with respect to any payment of taxes imposed
    3  on real property with respect to property located at 111 Windsor  Place,
    4  Islip,  New  York,  with  respect to a lessee that is a qualified empire
    5  zone enterprise, such taxes shall be deemed to be eligible real property
    6  taxes with respect to such lessee and (1) such taxes shall be deemed  to
    7  have  been  paid  by  the  lessee pursuant to explicit requirements in a
    8  written lease, (2) shall be deemed to become a lien on the real property
    9  during a taxable year in which the lessee of the real property  is  both
   10  certified  pursuant  to  article 18-B of the general municipal law and a
   11  qualified empire zone enterprise, and (3) the lessee shall be deemed  to
   12  have  made  direct  payment of such taxes to the taxing authority and to
   13  have received a receipt for  such  payment  of  taxes  from  the  taxing
   14  authority.    Such qualified empire zone enterprise shall be eligible to
   15  claim the real property tax credit provided by section 15 of the tax law
   16  provided that for each of such periods, the landlord  has  not  filed  a
   17  claim for the real property tax credit for such payments.
   18    S 2. This act shall take effect immediately and shall apply to taxable
   19  years beginning on or after January 1, 2005 and before January 1, 2014.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD13286-04-4