§ 25-EE — Authorization to provide relocation and employment assistance credits in Lower Manhattan

§ 25-ee. Authorization to provide relocation and employment assistance\ncredits in Lower Manhattan. (a) Any city having a population of one\nmillion or more is hereby authorized and empowered to adopt and amend a\nlocal law allowing an eligible business that relocates as defined in\nsubdivision (j) of section twenty-five-dd of this article or a special\neligible business that relocates as defined in subdivision (m) of\nsection twenty-five-dd 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\ndetermined by multiplying three thousand dollars by the number of\neligible aggregate employment shares maintained by the taxpayer during\nthe taxable year with respect to eligible premises to which the taxpayer\nhas relocated, and may be taken, pursuant to the provisions of section\nfour-i of part two of section one, or paragraph two of subdivision (k)\nof section one hundred one of section two of chapter seven hundred\nseventy-two of the laws of nineteen hundred sixty-six, or pursuant to\nthe provisions of a local law enacted pursuant to subdivision (a) of\nsection twelve hundred one of the tax law, for up to thirteen\nconsecutive taxable years beginning with the taxable year in which the\neligible business relocates as defined in subdivision (j) of section\ntwenty-five-dd of this article; provided that no such credit shall be\nallowed for the relocation of any retail activity or hotel services.\n (b) No eligible business or special eligible business shall be\nauthorized to receive a credit against tax under any local law enacted\npursuant to this article until the premises with respect to which it is\nclaiming the credit meet the requirements in the definition of eligible\npremises and until it has obtained a certification of eligibility from\nthe mayor of such city or any agency designated by such mayor, and an\nannual certification from such mayor or an agency designated by such\nmayor as to the number of eligible aggregate employment shares\nmaintained by such eligible business or such special eligible business\nthat may qualify for obtaining a tax credit for the eligible business's\ntaxable year. No special eligible business shall be authorized to\nreceive a credit against tax under the provisions of this article unless\nthe number of relocated employee base shares calculated pursuant to\nsubdivision (o) of section twenty-five-dd of this article is equal to or\ngreater than the lesser of twenty-five percent of the number of New York\ncity base shares calculated pursuant to subdivision (p) of such section\nand two hundred fifty employment shares. Any written documentation\nsubmitted to such mayor or such agency or agencies in order to obtain\nany such certification shall be deemed a written instrument for purposes\nof section 175.00 of the penal law. Such local law may provide for\napplication fees to be determined by such mayor or such agency or\nagencies. No certification of eligibility shall be issued under any\nlocal law enacted pursuant to this article to an eligible business on or\nafter July first, two thousand twenty-eight unless:\n (1) prior to such date such business has purchased, leased or entered\ninto a contract to purchase or lease premises in the eligible Lower\nManhattan area or a parcel on which will be constructed such premises;\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-dd 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 premises; and\n (4) such business relocates to such premises as provided in\nsubdivision (j) of section twenty-five-dd of this article 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) Such mayor or any agency or agencies designated by such mayor\nshall be authorized to promulgate rules and regulations to administer\nand assure compliance with the provisions of this article, including but\nnot limited to rules and regulations to provide for alternative methods\nto measure employment shares in instances where an eligible business is\nnot required by law to maintain weekly records of full-time work weeks\nand part-time work weeks of employees, partners or sole proprietors as\ndefined in subdivision (g) of section twenty-five-dd of this article.\n (d) An eligible business, or a special eligible business, other than a\nutility company subject to the supervision of the department of public\nservice shall not be authorized to receive a credit against a tax\nimposed pursuant to the provisions of a local law enacted pursuant to\nsubdivision (a) of section twelve hundred one of the tax law unless such\neligible business or special eligible business elects to take the credit\nauthorized by this section against the tax imposed by such local law on\nits application filed with such mayor 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 such credit against\nany tax imposed under a local law enacted pursuant to part two or three\nof section one or section two of chapter seven hundred seventy-two of\nthe laws of nineteen hundred sixty-six may make the election authorized\nby this subdivision. No taxpayer that makes the election provided in\nthis subdivision shall be authorized to take such credit against any 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.\n (e) For the duration of the benefit period, the recipient of benefits\nshall file annually, along with the aforementioned original and annual\ncertificates of eligibility, the average wage and benefits offered to\nthe applicable relocated employees used in determining eligible\naggregate employment shares, pursuant to subdivision (i) of section\ntwenty-five-y of this chapter. The department shall have the authority\nto require that statements filed under this subdivision be certified.\n