NY Gen City L § 25-EE (2021)
2021 New York Laws GCT - General City Article 2-J - Lower Manhattan Relocation and Employment Assistance Program 25-EE - Authorization to Provide Relocation and Employment Assistance Credits in Lower Manhattan.

§ 25-ee. Authorization to provide relocation and employment assistance credits  in  Lower  Manhattan.  (a)  Any city having a population of one million or more is hereby authorized and empowered to adopt and amend  a local  law  allowing  an  eligible business that relocates as defined in subdivision (j) of section twenty-five-dd of this article or  a  special eligible  business  that  relocates  as  defined  in  subdivision (m) of section twenty-five-dd of this article to receive a credit against a tax imposed under a local law enacted pursuant  to  part  two  or  three  of section  one  or section two of chapter seven hundred seventy-two of the laws of nineteen hundred sixty-six or a gross receipts tax imposed under a local law enacted  pursuant  to  subdivision  (a)  of  section  twelve hundred  one  of  the  tax  law.  The  amount  of  such  credit shall be determined by multiplying  three  thousand  dollars  by  the  number  of eligible  aggregate  employment shares maintained by the taxpayer during the taxable year with respect to eligible premises to which the taxpayer has relocated, and may be taken, pursuant to the provisions  of  section four-i  of  part two of section one, or paragraph two of subdivision (k) of section one hundred one of  section  two  of  chapter  seven  hundred seventy-two  of  the  laws of nineteen hundred sixty-six, or pursuant to the provisions of a local law enacted pursuant  to  subdivision  (a)  of section  twelve  hundred  one  of  the  tax  law,  for  up  to  thirteen consecutive taxable years beginning with the taxable year in  which  the eligible  business  relocates  as  defined in subdivision (j) of section twenty-five-dd of this article; provided that no such  credit  shall  be allowed for the relocation of any retail activity or hotel services.  (b)  No  eligible  business  or  special  eligible  business  shall be authorized to receive a credit against tax under any local  law  enacted pursuant  to this article until the premises with respect to which it is claiming the credit meet the requirements in the definition of  eligible premises  and  until it has obtained a certification of eligibility from the mayor of such city or any agency designated by such  mayor,  and  an annual  certification  from  such  mayor or an agency designated by such mayor  as  to  the  number  of  eligible  aggregate  employment   shares maintained  by  such eligible business or such special eligible business that may qualify for obtaining a tax credit for the  eligible  business' taxable  year.  No  special  eligible  business  shall  be authorized to receive a credit against tax under the provisions of this article unless the number of relocated employee  base  shares  calculated  pursuant  to subdivision (o) of section twenty-five-dd of this article is equal to or greater than the lesser of twenty-five percent of the number of New York city  base shares calculated pursuant to subdivision (p) of such section and two hundred  fifty  employment  shares.  Any  written  documentation submitted  to  such  mayor or such agency or agencies in order to obtain any such certification shall be deemed a written instrument for purposes of section 175.00 of the penal law.  Such  local  law  may  provide  for application  fees  to  be  determined  by  such  mayor or such agency or agencies. No certification of eligibility  shall  be  issued  under  any local law enacted pursuant to this article to an eligible business on or after July first, two thousand twenty-five unless:  (1)  prior to such date such business has purchased, leased or entered into a contract to purchase or lease  premises  in  the  eligible  Lower Manhattan area or a parcel on which will be constructed such premises;  (2)  prior  to  such  date  improvements  have  been commenced on such premises or parcel, which improvements will  meet  the  requirements  of subdivision  (e)  of  section twenty-five-dd of this article relating to expenditures for improvements;  (3) prior to such date such business submits a preliminary application for a certification of eligibility to  such  mayor  or  such  agency  or agencies with respect to a proposed relocation to such premises; and  (4)   such   business  relocates  to  such  premises  as  provided  in subdivision (j) of section twenty-five-dd of this article not later than thirty-six months or, in a case in which the expenditures made  for  the improvements  specified  in  paragraph  two  of  this subdivision are in excess of fifty million dollars within seventy-two months from the  date of submission of such preliminary application.  (c)  Such  mayor  or  any  agency or agencies designated by such mayor shall be authorized to promulgate rules and  regulations  to  administer and assure compliance with the provisions of this article, including but not  limited to rules and regulations to provide for alternative methods to measure employment shares in instances where an eligible business  is not  required  by law to maintain weekly records of full-time work weeks and part-time work weeks of employees, partners or sole  proprietors  as defined in subdivision (g) of section twenty-five-dd of this article.  (d) An eligible business, or a special eligible business, other than a utility  company  subject to the supervision of the department of public service shall not be authorized  to  receive  a  credit  against  a  tax imposed  pursuant  to  the provisions of a local law enacted pursuant to subdivision (a) of section twelve hundred one of the tax law unless such eligible business or special eligible business elects to take the credit authorized by this section against the tax imposed by such local law  on its  application  filed with such mayor or the agency designated by such mayor  pursuant  to  subdivision  (b)  of  this  section.  The  election authorized  by  this subdivision may not be withdrawn after the issuance of such certification of eligibility. No taxpayer  that  has  previously received  a  certification of eligibility to receive such credit against any tax imposed under a local law enacted pursuant to part two or  three of  section  one  or section two of chapter seven hundred seventy-two of the laws of nineteen hundred sixty-six may make the election  authorized by  this  subdivision.  No  taxpayer that makes the election provided in this subdivision shall be authorized to take such credit against any tax imposed under a local law enacted pursuant  to  part  two  or  three  of section  one  or section two of chapter seven hundred seventy-two of the laws of nineteen hundred sixty-six.  (e) For the duration of the benefit period, the recipient of  benefits shall  file  annually, along with the aforementioned original and annual certificates of eligibility, the average wage and  benefits  offered  to the   applicable   relocated  employees  used  in  determining  eligible aggregate employment shares, pursuant  to  subdivision  (i)  of  section twenty-five-y  of  this chapter. The department shall have the authority to require that statements filed under this subdivision be certified.