NY State Senate Bill 2013-S4259

Archive: Last Bill Status - In Senate Committee Commerce, Economic Development And Small Business Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 08, 2014	referred to commerce, economic development and small business
Mar 18, 2013	referred to commerce, economic development and small business

2013-S4259 (ACTIVE) - Details

Current Committee:: Senate Commerce, Economic Development And Small Business
Law Section:: Economic Development Law
Laws Affected:: Add Art 21 §§430 - 441, Ec Dev L

2013-S4259 (ACTIVE) - Summary

Creates the business employment incentive program.

2013-S4259 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S4259

TITLE OF BILL:  An act to amend the economic development law, in
relation to creating the business employment incentive program

PURPOSE OR GENERAL IDEA OF BILL:  This bill will foster job creation
in New York State enabling the Empire State Development Corp. (ESDC)
to enter into agreements with businesses to provide business
employment incentive grants, within available appropriations. The
amount of the employment incentive awarded as a grant in each case
shall be not less than ten percent and not more than eighty percent of
the withholdings of the business, or not less than ten percent and not
more than fifty percent of the estimated tax of partners of an
eligible partnership.

SUMMARY OF SPECIFIC PROVISIONS:  The economic development law is
amended by adding a new article twenty-one (21) that will include the
following provisions:

Section 430: Provides a general description of the BEIP and its
mission to create new jobs, provide business incentives with grants,
and ensure that proposed projects will be economically sound
benefiting the people of New York.

Section 431: Project Requirements. provides qualifications for
businesses including creation of at least 75 positions or at least 25

positions in targeted areas in the base years. This section is
applicable to landlord/tenant relationships whereby landlords may
apply to the department for a grant. Projects that consist of point of
final purchase retail facilities are not eligible for funding under
the article.

Section 432: Grant application. Businesses are required to apply for a
grant on a prescribed form and must disclose the name of the business;
any addresses; principals or management and their respective names and
addresses; the nature or form of the business; the number of proposed
jobs that will be created; recent financial statements; and estimates
of total withholdings. In addition, a business may apply in one
consolidated application or on behalf of its members, if the business
is an association.

Section 433: Incentive agreement. provides that the business
employment incentive agreement is required to include, but is not
limited to, a detailed description of the proposed project which will
result in job creation; the term of the grant; a requirement that the
applicant maintain the project at a location in New York for a
designated term; a method for the new project to report to the
department; and a termination condition.

Section 434: Applicants will be required to submit to the department a
copy of its applicable New York State tax return together with an
annual report, and may be require to submit to an audit by the
department.

Section 435: Failure of business to comply; circumstances. The
department will have the authority to adjust or terminate the grant


agreement if the applicant does not meet any of the conditions or
requirements.

Section 436: Disbursement conditions. Approval by the State
Comptroller is required before any amount of the grant is disbursed.
The approval will consist of certification of the applicant's tax and
withholdings estimates.

Section 437: Grant limitations. Approval from the State Comptroller
will be required if an applicant will be receiving two or more state
awarded grants that when combined, exceeds the total of eighty percent
of its withholdings or fifty percent of the estimated tax.

Section 438: Implementation, study. The department will conduct a
study to determine the minimum funding level to implement the program
successfully.

Section 439: Fees. Each applicant will be charged application and
administrative fees as determined by the department.

Section 440: Rules. The department will have authority to implement
provisions and rules that will clarify the application process.

Section 441: Annual report. The department will be required to supply
the Governor; temporary president of the senate, and speaker of the
assembly with an annual report on or before October thirty-first of
each year. The report will consist of information pertaining to the
agreements, grant disbursements, jobs created, and revenue tallies.

JUSTIFICATION:  New York has demonstrated an interest in strengthening
the economy by displaying a pro-business and pro-growth commitment. In
order to further facilitate economic development, it is important to
continue to create opportunities that will make New York an attractive
place to establish businesses, expand pre-existing businesses, and
offer a diverse job market. Further. strengthening New York's economy
is the primary goal of this legislation; encouraging new and expanded
corporate facilities, while creating jobs for the people of New York,
is the fundamental way to satisfy this goal. This legislation will
offer incentive grants from new jobs created when a business relocates
to New York or expands a business in the State.

Moreover, for New York to prosper, government must recognize and
capitalize on the infinite variety of locations for business
development, from sophisticated urban environments to high-tech
research parks, and from high traffic retail centers to rural
industrial tracts. In order to foster job creation and corporate
opportunities, this legislation will enable ESDC to enter into
agreements with businesses to provide business employment incentives
and grants. The department's program will encourage businesses to
propose projects that will be economically sound and benefit the
people of New York by increasing opportunities for employment.

LEGISLATIVE HISTORY:  A.9662-A of 2002 A.1437/S.1418 of 2003-2004
A.3308/S.3052 of 2005-2006 A.4570/S.6692 of 2009-2010

FISCAL IMPLICATIONS: Undetermined.


EFFECTIVE DATE:  This bill will take effect on the first of January
next succeeding the date on which it shall have become a law.

2013-S4259 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4259

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 18, 2013
                               ___________

Introduced  by Sen. GRISANTI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Commerce, Economic  Devel-
  opment and Small Business

AN  ACT  to  amend the economic development law, in relation to creating
  the business employment incentive program

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  economic  development law is amended by adding a new
article 21 to read as follows:
                               ARTICLE 21
                  BUSINESS EMPLOYMENT INCENTIVE PROGRAM
SECTION 430. GENERAL.
        431. PROJECT REQUIREMENTS.
        432. GRANT APPLICATION.
        433. INCENTIVE AGREEMENT.
        434. SUBMISSION OF NEW YORK TAX RETURN, OTHER INFORMATION; AUDIT.
        435. FAILURE OF BUSINESS TO COMPLY, CIRCUMSTANCES.
        436. DISBURSEMENT CONDITIONS.
        437. GRANT LIMITATIONS.
        438. IMPLEMENTATION, STUDY.
        439. FEES.
        440. RULES.
        441. ANNUAL REPORT.
  S 430. GENERAL. THERE IS  HEREBY  ESTABLISHED  A  BUSINESS  EMPLOYMENT
INCENTIVE  PROGRAM. THE PROGRAM IS TO BE ADMINISTERED BY THE DEPARTMENT.
IN ORDER TO FOSTER JOB CREATION IN THIS STATE, THE DEPARTMENT MAY  ENTER
INTO AGREEMENTS WITH BUSINESSES TO PROVIDE BUSINESS EMPLOYMENT INCENTIVE
GRANTS,  WITHIN  AVAILABLE  APPROPRIATIONS,  WITH THE PROVISIONS OF THIS
ARTICLE IF THE DEPARTMENT FINDS THAT:
  1. THE PROJECT PROPOSED BY THE BUSINESS WILL CREATE, DURING  THE  TERM
OF  THE  AGREEMENT, A NET INCREASE IN EMPLOYMENT BY THE BUSINESS AND ITS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09443-01-3

S. 4259                             2

RELATED PERSONS AS PROVIDED IN SECTION FOUR HUNDRED THIRTY-ONE  OF  THIS
ARTICLE;
  2.  THE  PROJECT  IS ECONOMICALLY SOUND AND WILL BENEFIT THE PEOPLE OF
NEW YORK BY INCREASING OPPORTUNITIES FOR EMPLOYMENT AND BY STRENGTHENING
NEW YORK'S ECONOMY; AND
  3. THE DEPARTMENT DETERMINES THAT THE RECEIPT OF THE BUSINESS  EMPLOY-
MENT INCENTIVE GRANT WILL BE A MATERIAL FACTOR IN THE BUSINESS' DECISION
TO GO FORWARD WITH THE PROJECT.
  S 431. PROJECT REQUIREMENTS. 1. A BUSINESS MAY APPLY TO THE DEPARTMENT
FOR A GRANT FOR ANY PROJECT WHICH:
  (A)  WILL  CREATE AT LEAST SEVENTY-FIVE ELIGIBLE POSITIONS IN THE BASE
YEARS; OR
  (B) WILL CREATE AT LEAST TWENTY-FIVE ELIGIBLE POSITIONS IN A  TARGETED
AREA IN THE BASE YEARS.
  2.  IN THE CASE WHERE A BUSINESS IS A LANDLORD, THE BUSINESS MAY APPLY
TO THE DEPARTMENT FOR A GRANT FOR ANY PROJECT IN WHICH:
  (A)(I) AT LEAST SEVENTY-FIVE ELIGIBLE POSITIONS  ARE  CREATED  IN  THE
BASE YEARS; OR
  (II) AT LEAST TWENTY-FIVE ELIGIBLE POSITIONS ARE CREATED IN A TARGETED
AREA IN THE BASE YEARS; AND
  (B) THE TENANTS OR PROPOSED TENANTS HAVE AGREED TO ASSIGN TO THE LAND-
LORD  ANY  CLAIM OF RIGHT THAT THEY MAY HAVE TO A GRANT PROVIDED BY THIS
ARTICLE; AND
  (C) THE TENANT OR PROPOSED TENANTS HAVE AGREED TO COOPERATE  WITH  THE
LANDLORD  BY  ANNUALLY  PROVIDING  TO  THE  DEPARTMENT THE NUMBER OF NEW
EMPLOYEES IN ELIGIBLE POSITIONS, THE WITHHOLDINGS AND ANY OTHER INFORMA-
TION WHICH MAY BE REQUIRED BY THE DEPARTMENT.
  3. A PROJECT WHICH CONSISTS SOLELY OF  POINT-OF-FINAL-PURCHASE  RETAIL
FACILITIES  SHALL  NOT  BE ELIGIBLE FOR A GRANT UNDER THIS ARTICLE. IF A
PROJECT CONSISTS OF BOTH POINT-OF-FINAL-PURCHASE RETAIL  FACILITIES  AND
NON-RETAIL  FACILITIES,  ONLY  THE  PORTION OF THE PROJECT CONSISTING OF
NON-RETAIL FACILITIES SHALL BE ELIGIBLE FOR A GRANT, AND ONLY THE  WITH-
HOLDINGS  FROM  NEW  EMPLOYEES  WHICH ARE EMPLOYED IN THE PORTION OF THE
PROJECT WHICH REPRESENTS NON-RETAIL FACILITIES SHALL BE USED  TO  DETER-
MINE  THE  AMOUNT  OF  THE  GRANT.  IF A WAREHOUSE FACILITY IS PART OF A
POINT-OF-FINAL-PURCHASE RETAIL FACILITY AND SUPPLIES ONLY THAT FACILITY,
THE WAREHOUSE FACILITY SHALL NOT BE ELIGIBLE  FOR  A  GRANT.    FOR  THE
PURPOSES  OF  THIS  ARTICLE,  CATALOG  DISTRIBUTION CENTERS SHALL NOT BE
CONSIDERED POINT-OF-FINAL-PURCHASE RETAIL FACILITIES.
  S 432. GRANT APPLICATION. 1. A BUSINESS SHALL APPLY TO THE  DEPARTMENT
FOR A GRANT ON A FORM PRESCRIBED BY THE DEPARTMENT WHICH SHALL INCLUDE:
  (A)  THE  NAME  OF THE BUSINESS, THE PROPOSED LOCATION OF THE PROJECT,
AND THE TYPE OF ACTIVITY WHICH WILL BE ENGAGED IN AT THE PROJECT SITE;
  (B) THE NAMES AND ADDRESSES OF THE PRINCIPALS  OR  MANAGEMENT  OF  THE
BUSINESS,  AND  THE  NATURE  OF  THE FORM OF BUSINESS ORGANIZATION UNDER
WHICH IT IS OPERATED;
  (C) THE MOST RECENT FINANCIAL STATEMENT OF THE BUSINESS;
  (D) THE NUMBER OF ELIGIBLE POSITIONS PROPOSED TO BE CREATED DURING THE
BASE YEARS AND THEREAFTER; AND
  (E) AN ESTIMATE OF THE TOTAL WITHHOLDINGS.
  2. A COOPERATIVE ASSOCIATION MAY APPLY, IN ONE  CONSOLIDATED  APPLICA-
TION  IN  A FORM AND MANNER DETERMINED BY THE DEPARTMENT, FOR A GRANT ON
ITS OWN BEHALF AS A BUSINESS AND FOR GRANTS ON BEHALF OF THE MEMBERS  OF
THE ASSOCIATION WHO MAY QUALIFY UNDER THIS ARTICLE.
  3.  IF  A  COOPERATIVE ASSOCIATION IS APPLYING FOR GRANTS ON BEHALF OF
ITS MEMBERS, THE MEMBERS FOR WHOM THE  APPLICATION  IS  SUBMITTED  SHALL

S. 4259                             3

ASSIGN  TO THE ASSOCIATION ANY CLAIM OF RIGHT THE MEMBERS MAY HAVE UNDER
THIS ARTICLE TO APPLY FOR GRANTS INDIVIDUALLY DURING  THE  TERM  OF  THE
BUSINESS EMPLOYMENT INCENTIVE AGREEMENT, AND AGREE TO COOPERATE WITH THE
ASSOCIATION  IN PROVIDING TO THE DEPARTMENT ALL THE INFORMATION REQUIRED
FOR THE INITIAL APPLICATION, THE BUSINESS  EMPLOYMENT  INCENTIVE  AGREE-
MENT,  AND  ANY  OTHER  INFORMATION  THE  DEPARTMENT MAY REQUIRE FOR THE
PURPOSES OF THIS ARTICLE. THE COOPERATIVE ASSOCIATION SHALL BE RESPONSI-
BLE FOR PROVIDING TO THE DEPARTMENT ALL THE INFORMATION  REQUIRED  UNDER
THIS ARTICLE.
  4.  IF  A COOPERATIVE ASSOCIATION APPLIES FOR A GRANT ON BEHALF OF ITS
MEMBERS, THE MEMBERS INCLUDED IN THE APPLICATION  MAY  BE  PERMITTED  TO
MEET  THE  QUALIFICATIONS FOR A GRANT COLLECTIVELY BY PARTICIPATING IN A
PROJECT THAT WILL MEET THE REQUIREMENTS OF SECTIONS FOUR HUNDRED  THIRTY
AND FOUR HUNDRED THIRTY-ONE OF THIS ARTICLE, THE AMOUNT OF A GRANT SHALL
BE  CALCULATED UNDER THE TERMS OF THIS ARTICLE AS IF THE MEMBERS ARE ALL
COLLECTIVELY ONE BUSINESS ENTITY, AND ANY RESTRICTIONS ON THE QUALIFICA-
TION FOR A GRANT SHALL APPLY TO EACH MEMBER WHO IS LISTED IN THE  APPLI-
CATION AS PARTICIPATING IN THE PROJECT. THE GRANTS AWARDED SHALL BE PAID
TO THE COOPERATIVE ASSOCIATION. A GRANT RECEIVED UNDER THIS ARTICLE BY A
COOPERATIVE ASSOCIATION MAY BE APPORTIONED TO THE MEMBERS OF THE ASSOCI-
ATION IN A MANNER DETERMINED BY THE ASSOCIATION. EACH MEMBER INCLUDED IN
THE APPLICATION SHALL BE REQUIRED TO SIGN THE BUSINESS EMPLOYMENT INCEN-
TIVE AGREEMENT AND SHALL ABIDE BY ITS TERMS.
  5.  (A)  THE  AMOUNT OF THE EMPLOYMENT INCENTIVE AWARDED AS A GRANT IN
EACH CASE SHALL BE NOT LESS THAN TEN PERCENT AND NOT  MORE  THAN  EIGHTY
PERCENT  OF  THE  WITHHOLDINGS  OF  THE  BUSINESS,  OR NOT LESS THAN TEN
PERCENT AND NOT MORE THAN FIFTY PERCENT OF THE ESTIMATED TAX OF PARTNERS
OF AN ELIGIBLE PARTNERSHIP WHETHER PAID DIRECTLY BY THE  PARTNER  OR  BY
THE  ELIGIBLE  PARTNERSHIP  ON  BEHALF OF SUCH PARTNER'S ACCOUNT, OR ANY
COMBINATION THEREOF, AND SHALL BE SUBJECT TO THE PROVISIONS OF  SECTIONS
FOUR  HUNDRED  THIRTY-SIX AND FOUR HUNDRED THIRTY-SEVEN OF THIS ARTICLE.
THE EMPLOYMENT INCENTIVE SHALL BE BASED ON  CRITERIA  DEVELOPED  BY  THE
DEPARTMENT AFTER CONSIDERING THE FOLLOWING:
  (I) THE NUMBER OF ELIGIBLE POSITIONS TO BE CREATED;
  (II) THE EXPECTED DURATION OF THOSE POSITIONS;
  (III)  THE TYPE OF CONTRIBUTION THE BUSINESS CAN MAKE TO THE LONG-TERM
GROWTH OF THE STATE'S ECONOMY;
  (IV) THE AMOUNT  OF  OTHER  FINANCIAL  ASSISTANCE  THE  BUSINESS  WILL
RECEIVE FROM THE STATE FOR THE PROJECT; AND
  (V) THE TOTAL DOLLAR INVESTMENT THE BUSINESS IS MAKING IN THE PROJECT.
  (B) THE TERM OF THE GRANT SHALL NOT EXCEED TEN YEARS.
  (C)  AT  THE DISCRETION OF THE DEPARTMENT, THE GRANT MAY APPLY ONLY TO
NEW EMPLOYEES OR PARTNERS IN ELIGIBLE POSITIONS CREATED DURING THE  BASE
YEARS,  OR TO ADDITIONAL NEW EMPLOYEES OR PARTNERS IN ELIGIBLE POSITIONS
CREATED DURING THE REMAINDER OF THE TERM OF THE GRANT.
  S 433. INCENTIVE AGREEMENT. THE BUSINESS EMPLOYMENT  INCENTIVE  AGREE-
MENT SHALL INCLUDE, BUT SHALL NOT BE LIMITED TO, THE FOLLOWING:
  1. A DETAILED DESCRIPTION OF THE PROPOSED PROJECT WHICH WILL RESULT IN
JOB  CREATION,  AND  THE NUMBER OF NEW EMPLOYEES TO BE HIRED IN THE BASE
YEARS;
  2. THE TERM OF THE GRANT, AND THE FIRST YEAR FOR WHICH THE  GRANT  MAY
BE CLAIMED;
  3. THE NEW EMPLOYEES WHOSE POSITIONS ARE SUBJECTS OF THE GRANT, PURSU-
ANT  TO  PARAGRAPH (C) OF SUBDIVISION FIVE OF SECTION FOUR HUNDRED THIR-
TY-TWO OF THIS ARTICLE;

S. 4259                             4

  4. A REQUIREMENT THAT THE APPLICANT MAINTAIN THE PROJECT AT A LOCATION
IN NEW YORK FOR AT LEAST ONE AND A HALF TIMES THE NUMBER OF YEARS OF THE
TERM OF THE GRANT, WITH AT LEAST THE NUMBER  OF  ELIGIBLE  POSITIONS  AS
REQUIRED BY SECTION FOUR HUNDRED THIRTY-ONE OF THIS ARTICLE;
  5.  THE  EMPLOYMENT INCENTIVE, AS DETERMINED PURSUANT TO PARAGRAPH (A)
OF SUBDIVISION FIVE OF SECTION FOUR HUNDRED THIRTY-TWO OF THIS ARTICLE;
  6. A METHOD FOR DETERMINING  THE  NUMBER  OF  NEW  EMPLOYEES  WHO  ARE
EMPLOYED DURING A GRANT YEAR;
  7.  A METHOD FOR THE BUSINESS TO REPORT ANNUALLY TO THE DEPARTMENT THE
NUMBER OF NEW EMPLOYEES FOR WHICH THE GRANT IS TO BE MADE;
  8. A REQUIREMENT THAT THE BUSINESS REPORT TO THE  DEPARTMENT  ANNUALLY
THE AGGREGATE AMOUNT OF WITHHOLDINGS DURING THE GRANT YEAR;
  9. A PROVISION PERMITTING AN AUDIT OF THE PAYROLL RECORDS OF THE BUSI-
NESS BY THE DEPARTMENT FROM TIME TO TIME, AS THE DEPARTMENT DEEMS NECES-
SARY;
  10.  A  PROVISION  WHICH  PERMITS THE DEPARTMENT TO AMEND AN AGREEMENT
PURSUANT TO SECTION FOUR HUNDRED THIRTY-FIVE OF THIS ARTICLE;
  11. A PROVISION WHICH REQUIRES THE BUSINESS TO MAINTAIN OPERATIONS  AT
THE  PROJECT LOCATION OR ANOTHER LOCATION APPROVED BY THE DEPARTMENT FOR
AT LEAST ONE AND A HALF TIMES THE TERM OF THE GRANT, AND A PROVISION  TO
PERMIT  THE  DEPARTMENT  TO  RECAPTURE  ALL  OR PART OF THE GRANT AT ITS
DISCRETION IF THE BUSINESS DOES NOT REMAIN AT THE SITE FOR THE  REQUIRED
TERM; AND
  12.  A  PROVISION  ESTABLISHING  THE  CONDITIONS UNDER WHICH THE GRANT
AGREEMENT MAY BE TERMINATED AND GRANT FUNDS RECAPTURED  BY  THE  DEPART-
MENT.
  S 434. SUBMISSION OF NEW YORK TAX RETURN, OTHER INFORMATION; AUDIT. 1.
NO LATER THAN FEBRUARY FIRST OF EACH YEAR, FOR THE PRECEDING GRANT YEAR,
EVERY  BUSINESS WHICH IS AWARDED A GRANT UNDER THIS ARTICLE SHALL SUBMIT
TO THE DEPARTMENT A COPY OF ITS APPLICABLE NEW YORK TAX  RETURN  SHOWING
BUSINESS  INCOME  AND WITHHOLDINGS AS A CONDITION OF ITS CONTINUATION IN
THE GRANT PROGRAM, TOGETHER WITH AN ANNUAL PAYROLL  REPORT  SHOWING  (A)
THE  ELIGIBLE  POSITIONS WHICH ARE CREATED DURING THE BASE YEARS AND (B)
THE NEW ELIGIBLE POSITIONS CREATED DURING EACH SUBSEQUENT  YEAR  OF  THE
GRANT.
  2.  THE  DEPARTMENT MAY REQUIRE BY REGULATION ANY INFORMATION WHICH IT
DEEMS NECESSARY TO EFFECTUATE THE PROVISIONS OF THIS ARTICLE.
  3. THE DEPARTMENT MAY CAUSE AN AUDIT OF ANY BUSINESS RECEIVING A GRANT
TO BE CONDUCTED AT ANY TIME.
  S 435. FAILURE OF BUSINESS TO COMPLY, CIRCUMSTANCES.  1. IF THE  BUSI-
NESS  RECEIVING  A  GRANT  FAILS TO MEET OR COMPLY WITH ANY CONDITION OR
REQUIREMENT SET FORTH IN A GRANT AGREEMENT OR IN RULES  AND  REGULATIONS
OF  THE DEPARTMENT, THE DEPARTMENT MAY AMEND THE AGREEMENT TO REDUCE THE
AMOUNT OF THE EMPLOYMENT INCENTIVE OR THE TERM OF THE  GRANT  AGREEMENT.
THE  REDUCTION  OF  THE  EMPLOYMENT INCENTIVE SHALL BE APPLICABLE TO THE
GRANT YEAR IMMEDIATELY FOLLOWING THE GRANT YEAR IN WHICH THE  DEPARTMENT
AMENDS THE AGREEMENT.
  2. IF A BUSINESS FAILS TO MAINTAIN EMPLOYMENT AT THE LEVELS STIPULATED
IN  THE AGREEMENT OR OTHERWISE FAILS TO COMPLY WITH ANY CONDITION OF THE
GRANT AGREEMENT FOR ANY TWO CONSECUTIVE YEARS, THE DEPARTMENT MAY TERMI-
NATE THE AGREEMENT.
  S 436. DISBURSEMENT CONDITIONS. NO AMOUNT  SHALL  BE  DISBURSED  TO  A
RECIPIENT  BUSINESS  AS A GRANT UNDER THIS ARTICLE IN ANY YEAR UNTIL THE
STATE COMPTROLLER HAS CERTIFIED THAT THE AMOUNT OF WITHHOLDINGS OR ESTI-
MATED TAXES OF PARTNERS, OR ANY COMBINATION THEREOF,  RECEIVED  IN  THAT

S. 4259                             5

YEAR FROM THE BUSINESS OR THE PARTNERS OF THE BUSINESS EQUALS OR EXCEEDS
THE AMOUNT OF THE GRANT.
  S 437. GRANT LIMITATIONS. A BUSINESS THAT IS RECEIVING ANY OTHER GRANT
BY  OPERATION OF STATE LAW SHALL NOT RECEIVE AN AMOUNT AS A GRANT PURSU-
ANT TO THIS ARTICLE WHICH, WHEN COMBINED WITH SUCH OTHER GRANTS, EXCEEDS
THE TOTAL OF EIGHTY PERCENT OF ITS WITHHOLDINGS OR FIFTY PERCENT OF  THE
ESTIMATED TAX, OR ANY COMBINATION THEREOF PAID, EXCEPT UPON THE APPROVAL
OF THE STATE COMPTROLLER.
  S 438. IMPLEMENTATION, STUDY.  THE DEPARTMENT SHALL CONDUCT A STUDY TO
DETERMINE  THE  MINIMUM FUNDING LEVEL REQUIRED TO IMPLEMENT THE BUSINESS
EMPLOYMENT INCENTIVE PROGRAM SUCCESSFULLY. MAJOR CONSIDERATION SHALL  BE
GIVEN  TO  THE RATE OF RETURN FOR EACH JOB CREATED AS  A RESULT OF BUSI-
NESS EMPLOYMENT INCENTIVE GRANTS.
  S 439. FEES. THE DEPARTMENT SHALL ESTABLISH AN APPLICATION FEE  FOR  A
GRANT  APPLICATION  AND SERVICE FEES PAYABLE BY EACH BUSINESS WHICH IS A
GRANT RECIPIENT TO PAY THE COSTS OF THE ADMINISTRATION OF THE PROGRAM.
  S 440. RULES. THE DEPARTMENT SHALL ADOPT RULES NECESSARY TO  IMPLEMENT
THE  PROVISIONS OF THE BUSINESS EMPLOYMENT INCENTIVE PROGRAM NOT RELATED
TO THE COLLECTION OR DETERMINATION OF TAXES  AND  TAX  WITHHOLDING.  THE
RULES  SHALL PROVIDE FOR THE RECIPIENTS OF BUSINESS EMPLOYMENT INCENTIVE
GRANTS TO BE CHARGED AN INITIAL APPLICATION  FEE,  AND  ONGOING  SERVICE
FEES,  TO  COVER  THE  ADMINISTRATIVE  COSTS RELATED TO THE PROGRAM. THE
RULES ALSO SHALL INCLUDE THE PROCEDURES TO CLARIFY  THE  APPLICATION  OF
THE  VARIOUS PROVISIONS OF THIS ARTICLE TO COOPERATIVE ASSOCIATIONS THAT
SUBMIT APPLICATIONS ON BEHALF OF THEIR MEMBERS.
  S 441. ANNUAL REPORT.  THE DEPARTMENT SHALL SUBMIT  A  REPORT  ON  THE
BUSINESS  EMPLOYMENT INCENTIVE PROGRAM TO THE GOVERNOR, TEMPORARY PRESI-
DENT OF THE SENATE, AND SPEAKER OF THE ASSEMBLY  ON  OR  BEFORE  OCTOBER
THIRTY-FIRST  OF EACH YEAR.  THE REPORT SHALL INCLUDE INFORMATION ON THE
NUMBER OF AGREEMENTS ENTERED INTO DURING THE PRECEDING  FISCAL  YEAR,  A
DESCRIPTION  OF  THE  PROJECT  UNDER  EACH AGREEMENT, THE NUMBER OF JOBS
CREATED, NEW INCOME TAX  REVENUE  RECEIVED  FROM  WITHHOLDINGS,  AMOUNTS
AWARDED  AS  GRANTS AND AN UPDATE ON THE STATUS OF PROJECTS UNDER AGREE-
MENT BEFORE THE PRECEDING FISCAL YEAR.  AFTER THE PROGRAM'S FIFTH  YEAR,
THE  DEPARTMENT, IN CONJUNCTION WITH THE STATE COMPTROLLER, SHALL ASSESS
THE EFFECTIVENESS OF THE PROGRAM IN CREATING NEW JOBS IN  NEW  YORK  AND
THE IMPACT ON STATE REVENUES.
  S  2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law.

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Senate Bill S4259

Sponsored By

Archive: Last Bill Status - In Senate Committee Commerce, Economic Development And Small Business Committee

2013-S4259 (ACTIVE) - Details

2013-S4259 (ACTIVE) - Summary

2013-S4259 (ACTIVE) - Sponsor Memo

2013-S4259 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S4259

Share this bill

Sponsored By

Mark Grisanti

Archive: Last Bill Status - In Senate Committee Commerce, Economic Development And Small Business Committee

2013-S4259 (ACTIVE) - Details

2013-S4259 (ACTIVE) - Summary

2013-S4259 (ACTIVE) - Sponsor Memo

2013-S4259 (ACTIVE) - Bill Text download pdf

Comments