N.Y. General City Law § 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's

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-eight 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.