NY Econ Dev L § 424 (2021)
2021 New York Laws COM - Economic Development Law Article 20 - Empire State Jobs Retention Program 424 - Application and Approval Process.

§ 424. Application and approval process. 1. A business enterprise must submit  a  completed application as prescribed by the commissioner. Such completed application must be submitted to the commissioner  within  (a) one  hundred  eighty  days  of  the  declaration  of an emergency by the governor in the county in which the business enterprise  is  located  or (b)  one  hundred  eighty days of the enactment of this article, if such date is  later  than  the  date  specified  in  paragraph  (a)  of  this subdivision.   2. As part of such application, each business enterprise must:  (a) agree to allow the department of taxation and finance to share its tax  information with the department. However, any information shared as a result of this agreement shall not  be  available  for  disclosure  or inspection under the state freedom of information law.  (b)  agree  to  allow  the  department  of  labor to share its tax and employer information  with  the  department.  However,  any  information shared  as  a  result  of  this  agreement  shall  not  be available for disclosure or inspection under the state freedom of information law.  (c) allow the department and its agents access to any  and  all  books and records the department may require to monitor compliance.  (d)  agree to be permanently disqualified for empire zone tax benefits at any  location  or  locations  that  qualify  for  empire  state  jobs retention  program  benefits  if  admitted  into  the  empire state jobs retention program.  (e) provide the following information to the department upon request:  (i) a plan outlining the  schedule  for  meeting  the  jobs  retention requirements  as  set forth in subdivision three of section four hundred twenty-three of this article. Such plan must  include  details  on  jobs titles and expected salaries;  (ii)  the  prior  three years of federal and state income or franchise tax returns, unemployment insurance quarterly returns, real property tax bills and audited financial statements; and  (iii) the employer identification or social security numbers  for  all related  persons  to  the applicant, including those of any members of a limited liability company or partners in a partnership.  (f) provide a clear and detailed presentation of all  related  persons to  the  applicant  to  assure  the  department  that jobs are not being shifted within the state.  (g) certify, under penalty of  perjury,  that  it  is  in  substantial compliance  with all environmental, worker protection, and local, state, and federal tax laws.   3. After reviewing a business enterprise's completed  application  and determining  that  the  business enterprise will meet the conditions set forth in subdivision three of section four hundred twenty-three of  this article,  the  department  may  admit the applicant into the program and provide  the  applicant  with  a  certificate  of  eligibility   and   a preliminary  schedule  of  benefits  by  year  based  on the applicant's projections as set forth in its application. This  preliminary  schedule of  benefits  delineates  the maximum possible benefits an applicant may receive.   4. In order to become a participant in the program, an applicant  must submit  evidence that it satisfies the eligibility criteria specified in section four hundred twenty-three of this article and subdivision two of this section in such form  as  the  commissioner  may  prescribe.  After reviewing  such evidence and finding it sufficient, the department shall certify the applicant as a participant and issue to that  participant  a certificate of tax credit for one taxable year. To receive a certificate of  tax credit for subsequent taxable years, the participant must submit to  the  department  a  performance  report   demonstrating   that   the  participant  continues  to satisfy the eligibility criteria specified in section four hundred twenty-three of this article and subdivision two of this section.   5.  A  participant  may  claim  tax  benefits  commencing in the first taxable year that the business enterprise receives a certificate of  tax credit  or  the first taxable year listed on its preliminary schedule of benefits, whichever is later. A participant may claim such benefits  for the  next  nine consecutive taxable years, provided that the participant demonstrates  to  the  department  that  it  continues  to  satisfy  the eligibility  criteria  specified in section four hundred twenty-three of this article and subdivision two  of  this  section  in  each  of  those taxable years.