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Who cares
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Sponsors
2 Co-sponsors
History
- Referred to local government
- 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.
Requires entities receiving a certain tax exemption to employ New York state residents during the course of a project
In Assembly Committee · Real Property Taxation · Sponsor Luis R. Sepúlveda
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3712
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 axe unavailable in New York State.
Summary of provisions
This bill amends Section 485-B, subdivision (13) of the Real Property Tax Law by adding a new subdivision (13), which would exclude certain business entities, which fail to maintain a staff of employees, eighty-five percent of whom are residents of New York State, from receiving a business investment tax exemption.
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
New Bill.
Fiscal implications
None.
Effective date
This act shall take effect on the 90th day after becoming law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.