N.Y. GCT Law § 25-GG — New York Code / Act GCT / Article 2-K / Section 25-GG
Relocation assistance credit per employee
Status: in_force

§ 25-gg. Relocation assistance credit per employee. (a) Any city\nhaving a population of one million or more is hereby authorized and\nempowered to adopt and amend a local law allowing an eligible business\nthat relocates to receive a credit against a tax imposed under a local\nlaw enacted pursuant to part two or three of section one or section two\nof chapter seven hundred seventy-two of the laws of nineteen hundred\nsixty-six. The amount of such credit shall be determined by multiplying\nfive thousand dollars by the number of eligible aggregate employment\nshares maintained by the taxpayer during the taxable year with respect\nto eligible premises to which the taxpayer has relocated, and may be\ntaken, pursuant to the provisions of section four-j of part two of\nsection one, or subdivision (l) of section one hundred one of section\ntwo of chapter seven hundred seventy-two of the laws of nineteen hundred\nsixty-six, for up to eleven consecutive taxable years beginning with the\ntaxable year in which the eligible business relocates, provided that no\nsuch credit shall be allowed for the relocation of any retail activity\nor hotel services.\n  (b) No eligible business shall be authorized to receive a credit\nagainst tax under any local law enacted pursuant to this article unless\nthe premises with respect to which it is claiming the credit are\neligible premises and until it has obtained an initial certification of\neligibility from the mayor of such city and an annual certification from\nsuch mayor as to the number of eligible aggregate employment shares\nmaintained by such eligible business that may qualify for obtaining a\ntax credit for the eligible business's taxable year. Each initial\ncertification of eligibility shall include the maximum approved\nemployment shares for the eligible business, which shall not exceed five\nhundred employment shares. Any written documentation submitted to such\nmayor in order to obtain any such certification shall be deemed a\nwritten instrument for purposes of section 175.00 of the penal law. Such\nlocal law may provide for an application fee for such certification to\nbe determined by such mayor. No initial certification of eligibility\nshall be issued under any local law enacted pursuant to this article to\nan eligible business on or after July first, two thousand twenty-eight\nunless:\n  (1) prior to such date, such business has purchased, leased or entered\ninto a contract to purchase or lease eligible premises;\n  (2) prior to such date, such business submits a preliminary\napplication for an initial certification of eligibility to such mayor\nwith respect to a proposed relocation to such premises;\n  (3) such business enters into a lease or contract to purchase an\neligible premises between the date that such business submits such\npreliminary application and three months thereafter; and\n  (4) such business relocates to such premises not later than thirty-six\nmonths from the date of submission of such preliminary application.\n  (c) Notwithstanding any provision of law to the contrary, such mayor\nshall not issue an initial certification of eligibility that would cause\nthe program total to exceed three thousand maximum approved employment\nshares. Such mayor shall approve applications on a first-come,\nfirst-serve basis among eligible businesses in accordance with rules\npromulgated pursuant to a local law authorized by subdivision (d) of\nthis section. Such mayor shall include on such mayor's website an\nindication regarding whether the program total has reached three\nthousand maximum approved employment shares.\n  (d) Such mayor shall be authorized to promulgate rules and regulations\nto administer and ensure compliance with the provisions of this article,\nincluding but not limited to rules and regulations to provide for\nalternative methods to measure employment shares in instances where an\neligible business is not required by law to maintain weekly records of\nfull-time work weeks and part-time work weeks of employees, partners or\nsole proprietors.\n  (e) For the duration of the benefit period, the recipient of a credit\npursuant to a local law enacted in accordance with this article shall\nfile an application for an annual certification each year demonstrating\nsuch recipient's eligibility for such credit and the average wage and\nbenefits offered to the applicable relocated employees used in\ndetermining eligible aggregate employment shares. Such mayor shall have\nthe authority to require that statements filed under this subdivision be\nfiled electronically and that such statements be certified.\n