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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred to real property taxation
- Referred to real property taxation
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Requires entities receiving a certain tax exemption to employ New York state residents during the course of a project
In Senate Committee · Local Government · Sponsor William T. Stachowski
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A434
Title of bill
An act to amend the real property tax law, in relation to the employment of New York state residents by entities receiving certain tax breaks
Purpose
The purpose of this bill is to exclude those business entities that are otherwise eligible to receive the business investment tax exemption, from receiving such exemption unless eighty-five percent of their employees reside in New York State. This exclusion may be waived in circumstances in which suitable employees are unavailable in New York State.
Justification
In order to promote the employment of workers who reside in New York State, business entities, which are eligible to receive the business investment tax exemption, should be required to retain a staff of which at least eighty-five percent are New York State residents.
Legislative history
A.2729 of 2003-04; referred to real property taxation A.1494 of 2005-06; referred to real property taxation A.4395 of 2007-08; referred to real property taxation
Fiscal implications
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.