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Sponsors
1 Multi-sponsor
History
- Referred to economic development
Full text
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Sponsor's memo
BILL NUMBER:A10679
Title of bill
An act to amend the general municipal law, in relation to the certification of businesses as clean energy enterprises and the termination or revision of an empire zone and procedures relating to uniformed tax exemption policy; to amend the tax law, in relation to empire zone credit for real property taxes and qualified emerging tech- nology company facilities; to amend the public authorities law, in relation to certain financial assistance programs; to amend section 15 of chapter 66 of the laws of 1994, amending the public health law, the general municipal law and the insurance law relating to the financing of life care communities, in relation to the date of approval of certif- icates of authority; to amend the economic development law, in relation to establishing a high tech marketing program and providing an appropri- ation therefor; to amend the New York state urban development corpo- ration act, in relation to establishing a new technology seed fund; and to repeal certain provisions of the public authorities law relating to the recovery of state governmental costs from institutional development agencies
Purpose of the bill
Establishes the Jobs for New York State (JOBS4NY) economic development and job creation stimulus plan. This economic stim- ulus program would help create thousands of jobs, especially in manufac- turing and high tech sectors, and by expanding economic activity, help local governments and the state address current fiscal problems. This legislation would implement several initiatives that would lead to significant new private sector investment and job creation and retention, expand the tax base of our communities, create several thou- sand construction jobs, allow our vital nonprofit service providers to expand and modernize so they can deliver needed services more efficient- ly, and establish a high tech business marketing public/private partner- ship to tell the global business community that economic development is important to New York State.
Summary of specific provisions
Sections 1-2. Short title and statement of legislative intent.
Sections 3-13. Extends the sunset of the current Empire Zones Program from June 30, 2010 to December 31, 2015 and repurposes the Empire Zones Program going forward to focus on major attraction and expansion projects and major capital reinvestment in designated economic sectors. Sections 14-15. Supports emerging technology sectors by enhancing the existing Research and Development (R&D) Tax Credit.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.