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History
- Approval memo.9
- Signed chap.508
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.131
- Substituted for A6561
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 61–1
- Ordered to third reading cal.1202
- Committee discharged and committed to rules
Show 1 earlier action
- Referred to investigations and government operations
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 230-234 Wallace Way, Gates, New York
Assembly Floor Calendar · Sponsor Joseph Morelle
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4753
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 230-234 Wallace Way, Gates, New York.
Summary of provisions
Section 1. Makes provisions for payments in lieu of taxes made by certain entities for specified properties and relates to eligibility for real property tax credit.
Section 2. 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.
A recent policy shift within the New York State Department of Tax and Finance (NYSDTF) regarding this type of agreement denied credit to this lessee as a result of the business not being a party to the PILOT agreement between the landlord and tax jurisdiction. As a result, the lessee that had been approved for the tax credit, had paid taxes consistent with their lease agreements, and had been audited by the state during the relevant time period, was assessed for credits awarded in prior years. This business is now being assessed for credits awarded in prior years from 2008 to 2010.
This entity has complied with the spirit of the law, and has relied on the tax credit as a significant component of its budget. This business also proactively changed it's PILOT agreement in order to comply moving forward, and should not be penalized for a change in policy within the NYSDTF that would have been followed if it had been policy all along.
Prior legislative history
New bill.
Fiscal implications
None.
Effective date
This act shall take effect immediately and shall apply to taxable years beginning on and after January 1, 2008.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.