N.Y. GCT Law § 25-Z — New York Code / Act GCT / Article 2-H / Section 25-Z
Authorization to provide relocation and employment assistance credits
Status: in_force

§ 25-z. Authorization to provide relocation and employment assistance\ncredits. (a) Any city having a population of one million or more is\nhereby authorized and empowered to adopt and amend a local law allowing\nan eligible business that relocates as defined in subdivision (j) of\nsection twenty-five-y of this article to receive a credit against a tax\nimposed under a local law enacted pursuant to part two or three of\nsection one, or section two, of chapter seven hundred seventy-two of the\nlaws of nineteen hundred sixty-six or a gross receipts tax imposed under\na local law enacted pursuant to subdivision (a) of section twelve\nhundred one of the tax law. The amount of such credit shall be in an\namount equal to five hundred dollars or, in the case of an eligible\nbusiness that has obtained pursuant to subdivision (b) of this section a\ncertification of eligibility dated on or after July first, nineteen\nhundred ninety-five, one thousand dollars or, in the case of eligible\nbusiness that has obtained pursuant to subdivision (b) of this section a\ncertification of eligibility dated on or after July first, two thousand,\nfor a relocation to eligible premises located within a revitalization\narea defined in subdivision (n) of section twenty-five-y of this\narticle, three thousand dollars, multiplied by the number of eligible\naggregate employment shares, and may be taken, pursuant to the\nprovisions of subdivision two of section four-h of part two of section\none, or paragraph two of subdivision (j) of section one hundred one of\nsection two of chapter seven hundred seventy-two of the laws of nineteen\nhundred sixty-six, or pursuant to the provisions of a local law enacted\npursuant to subdivision (a) of section twelve hundred one of the tax\nlaw, for up to thirteen consecutive taxable years beginning with the\ntaxable year in which the eligible business relocates as defined in\nsubdivision (j) of section twenty-five-y of this article; provided,\nhowever, with respect to a relocation for which no application for a\ncertificate of eligibility is submitted prior to July first, two\nthousand three, to eligible premises that are not within a\nrevitalization area, if the date of such relocation as determined\npursuant to subdivision (j) of section twenty-five-y of this article is\nbefore July first, nineteen hundred ninety-five, the amount to be\nmultiplied by the number of eligible aggregate employment shares shall\nbe five hundred dollars, and with respect to a relocation for which no\napplication for a certificate of eligibility is submitted prior to July\nfirst, two thousand three, to eligible premises that are within a\nrevitalization area, if the date of such relocation as determined\npursuant to subdivision (j) of such section is before July first,\nnineteen hundred ninety-five, the amount to be multiplied by the number\nof eligible aggregate employment shares shall be five hundred dollars,\nand if the date of such relocation as determined pursuant to subdivision\n(j) of such section is on or after July first, nineteen hundred\nninety-five, and before July first, two thousand, one thousand dollars;\nprovided that no such credit shall be allowed for the relocation of any\nretail activity or hotel services; provided, notwithstanding any other\nprovision of law to the contrary, that no such credit shall be allowed\nagainst a gross receipts tax imposed under a local law enacted pursuant\nto subdivision (a) of section twelve hundred one of the tax law for any\nrelocation taking place prior to January first, nineteen hundred\nninety-nine; and provided that in the case of an eligible business that\nhas obtained pursuant to subdivision (b) of this section certifications\nof eligibility for more than one relocation as defined in subdivision\n(j) of section twenty-five-y of this article, the portion of the total\namount of eligible aggregate employment shares to be multiplied by the\ndollar amount specified in this subdivision for each such certification\nof a relocation shall be the number of total attributed eligible\naggregate employment shares determined with respect to such relocation\npursuant to subdivision (o) of section twenty-five-y of this article.\n  (b) No eligible business shall be authorized to receive a credit under\nany local law enacted pursuant to this article until the premises with\nrespect to which it is claiming the credit meet the requirements in the\ndefinition of eligible premises and until it has obtained a\ncertification of eligibility from the mayor of such city or an agency\ndesignated by such mayor, and an annual certification from such mayor or\nan agency designated by such mayor as to the number of eligible\naggregate employment shares maintained by such eligible business that\nmay qualify for obtaining a tax credit for the eligible business's\ntaxable year. Any written documentation submitted to such mayor or such\nagency or agencies in order to obtain any such certification shall be\ndeemed a written instrument for purposes of section 175.00 of the penal\nlaw. Such local law may provide for application fees to be determined by\nsuch mayor or such agency or agencies. No such certification of\neligibility shall be issued under any local law enacted pursuant to this\narticle to an eligible business on or after July first, two thousand\ntwenty-eight unless:\n  (1) prior to such date such business has purchased, leased or entered\ninto a contract to purchase or lease particular premises or a parcel on\nwhich will be constructed such premises or already owned such premises\nor parcel;\n  (2) prior to such date improvements have been commenced on such\npremises or parcel, which improvements will meet the requirements of\nsubdivision (e) of section twenty-five-y of this article relating to\nexpenditures for improvements;\n  (3) prior to such date such business submits a preliminary application\nfor a certification of eligibility to such mayor or such agency or\nagencies with respect to a proposed relocation to such particular\npremises; and\n  (4) such business relocates to such particular premises not later than\nthirty-six months or, in a case in which the expenditures made for the\nimprovements specified in paragraph two of this subdivision are in\nexcess of fifty million dollars within seventy-two months from the date\nof submission of such preliminary application.\n  (c) The mayor of such city or an agency or agencies designated by such\nmayor shall be authorized to promulgate rules and regulations to\nadminister and assure 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 as defined in subdivision (g) of section twenty-five-y\nof this article.\n  (d) An eligible business other than a utility company subject to the\nsupervision of the department of public service shall not be authorized\nto receive a credit under a local law enacted pursuant to this article\nagainst a gross receipts tax imposed under a local law enacted pursuant\nto subdivision (a) of section twelve hundred one of the tax law, unless\nsuch eligible business elects to take the credit authorized by this\nsection against the tax imposed under such local law on an application\nfiled with respect to the first relocation of such business that\nqualifies or will qualify under a local law enacted pursuant to this\narticle, with the mayor of such city or the agency designated by such\nmayor pursuant to subdivision (b) of this section. The election\nauthorized by this subdivision may not be withdrawn after the issuance\nof such certification of eligibility. No taxpayer that has previously\nreceived a certification of eligibility to receive the credit authorized\nby this section against any tax imposed under a local law enacted\npursuant to part two or three of section one, or section two, of chapter\nseven hundred seventy-two of the laws of nineteen hundred sixty-six may\nmake the election authorized by this subdivision. No taxpayer that makes\nthe election provided in this subdivision shall be authorized to take\nsuch credit against any tax imposed under a local law enacted pursuant\nto part two or three of section one, or section two, of chapter seven\nhundred seventy-two of the laws of nineteen hundred sixty-six.\n  (e) Notwithstanding any other provisions of this article, an eligible\nbusiness that has obtained pursuant to subdivision (b) of this section a\ncertification of eligibility for a relocation to particular eligible\npremises may apply to the mayor of such city or an agency designated by\nsuch mayor to have premises in a building, other than the building in\nwhich such particular eligible premises are located, certified as\ndesignated additional or replacement premises as defined in subdivision\n(q) of section twenty-five-y of this article. After the certification\nprovided for in this subdivision has been obtained, any aggregate\nemployment shares maintained by the eligible business in such premises\nshall be treated as if such employment shares were maintained in the\nparticular eligible premises to which the eligible business relocated.\nNo such certification shall be issued after the end of the period\nprovided for in subdivision (a) of this section during which the credit\nmay be taken with regard to the relocation to such particular eligible\npremises, and the issuance of such certification shall not extend such\nperiod. Provided however, (i) no premises shall be certified as\ndesignated additional or replacement premises if the eligible business\nmaintained employment shares in such premises prior to the application\nfor certification provided for in this subdivision, (ii) no premises\nshall be certified as designated additional or replacement premises\nunless such premises meet the requirements for eligible premises in\nsubdivision (e) of section twenty-five-y of this article, and (iii) if\nthe particular premises to which the eligible business relocated are in\na revitalization zone, no premises shall be certified as designated\nadditional or replacement premises with regard to such relocation unless\nsuch designated additional or replacement premises are located in a\nrevitalization zone.\n  (f)(1)(i) Notwithstanding the provisions of subdivision (i) of section\ntwenty-five-y of this article, in the case of an eligible business\nmeeting the criteria in subparagraphs (ii) and (iii) of this paragraph,\nthe mayor or his or her designee, in his or her discretion, may for any\ntaxable year in which such business is eligible to receive the credit\nprovided for in this section, determine the number of eligible aggregate\nemployment shares as provided in paragraph two of this subdivision, and\nsuch number shall be deemed to be the number of eligible aggregate\nemployment shares determined pursuant to such subdivision (i) of section\ntwenty-five-y for the purpose of attributing shares pursuant to\nsubdivision (o) of section twenty-five-y of this article to relocations\nas defined in subdivision (j) of such section twenty-five-y occurring\nafter July first, two thousand three:\n  (ii) in the case of a relocation before July first, two thousand five,\nin the taxable year prior to its first relocation after July first, two\nthousand three (such prior year being hereafter referred to as the "base\nyear"), such eligible business maintained more than one hundred\naggregate employment shares in the eligible Lower Manhattan area as\ndefined in subdivision (f) of section twenty-five-dd of this chapter,\nprovided that in the case of a relocation after June thirtieth, two\nthousand five, in the taxable year prior to its first relocation after\nsuch date (such prior year being hereafter referred to as the "base\nyear"), such eligible business maintained one or more aggregate\nemployment shares in such eligible Lower Manhattan area, and\n  (iii) in the case of a relocation before July first, two thousand\nfive, in the taxable year subsequent to the base year for which the\ndetermination of eligible aggregate employment shares is being made, the\nnumber of aggregate employment shares in the eligible Lower Manhattan\narea maintained by the eligible business is less than the number of\naggregate employment shares it maintained in such area in the base year\nreduced by one hundred, provided that in the case of a relocation after\nJune thirtieth, two thousand five, in the taxable year subsequent to the\nbase year for which the determination of eligible aggregate employment\nshares is being made, the number of aggregate employment shares in the\neligible Lower Manhattan area maintained by the eligible business is\nless than the number of aggregate employment shares it maintained in\nsuch area in the base year.\n  (2) The number of eligible aggregate employment shares determined\nunder this paragraph shall be the number of eligible aggregate\nemployment shares determined pursuant to subdivision (i) of section\ntwenty-five-y of this article without regard to paragraphs one and three\nof such subdivision (i), less the reduction amount provided for in\nparagraph three of this subdivision.\n  (3) For any taxable year, the reduction amount shall be the excess of\n(i) the number of aggregate employment shares maintained by the eligible\nbusiness in the eligible Lower Manhattan area in the base year, over\n(ii) the number of aggregate employment shares maintained by the\neligible business in the eligible Lower Manhattan area in the taxable\nyear.\n  (4) Notwithstanding anything herein to the contrary, the number of\neligible aggregate employment shares may be determined pursuant to\nparagraph two of this subdivision only if the number of such shares\ndetermined pursuant to such paragraph two is less than the number of\nsuch shares determined pursuant to subdivision (i) of section\ntwenty-five-y of this article.\n  (5) The mayor, or his or her designee, shall exercise the discretion\nprovided for in paragraph one of this subdivision if he or she\ndetermines it to be in the best interests of the city, taking into\naccount whether the credit provided for in this section caused the\nreduction in the number of jobs maintained by the eligible business in\nthe eligible Lower Manhattan area.\n  (g) For the duration of the benefit period, a recipient of a credit\nunder any local law enacted pursuant to this article shall file\nannually, along with the aforementioned original and annual certificates\nof eligibility, the average wage and benefits offered to the applicable\nrelocated employees used in determining eligible aggregate employment\nshares, pursuant to subdivision (i) of section twenty-five-y of this\narticle. The department shall have the authority to require that\nstatements filed under this subdivision be certified.\n