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History
- Signed chap.367
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.229
- Substituted for A6064
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 62–1
- Advanced to third reading
- 2nd report cal.
- 1st report cal.331
Show 1 earlier action
- Referred to local government
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.
Relates to payments in lieu of taxes made by certain entities for property located at One Nirvana Plaza, Forestport, New York
Assembly Floor Calendar · Sponsor Anthony Brindisi
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4122
Title of bill
An act in relation to a certain agreement for a payment in lieu of taxes
Purpose
Relates to payments in lieu of taxes made by certain entities for property located at One Nirvana Plaza, Forestport, New York.
Summary of provisions
Section one makes provisions for payments in lieu of taxes made by certain entities for specified properties and relates to eligibility for real property tax credit.
Sections two provides the effective date.
Justification
Qualified Empire Zone Enterprises (QEZE) are vital businesses within our communities that encourage job growth and foster economic development. As an incentive to participate, these entities qualify for tax exemptions and refunds. For example, under New York State tax law, a QEZE tenant that is responsible for property taxes under its lease is eligible for a refund for paid property taxes. Payments by a lessee made pursuant to a PILOT agreement qualify as property taxes that are eligible for this refund.
Nevertheless, there has been a recent policy shift within the New York State Department of Taxation and Finance (NYSTDF) regarding this type of agreement. NYSTDF has denied credit for lessee payments as a result of them not being a "party to" the PILOT agreement between the landlord and the tax jurisdiction. As a result, lessees who have been approved for the tax credit, have paid taxes consistent with their lease agreements, and have been audited by the state during the relevant time period, are now being assessed for credits awarded in prior years and face denials in future years.
These entities have complied with the spirit of the law, and have relied on the tax credit as a significant component of their budgets. Such a policy not only creates a disincentive for these businesses to continue their work in our communities, but jeopardizes their current fiscal integrity.
Legislative history
Similar to Chapter 430 of 2012.
Fiscal implications
None.
Effective date
Immediate and shall apply to taxable years beginning on and after January 1, 2009 and ending on or before December 31, 2012.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.