Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 11, 2014 |
referred to economic development delivered to assembly passed senate |
Jun 02, 2014 |
advanced to third reading |
May 29, 2014 |
2nd report cal. |
May 28, 2014 |
1st report cal.965 |
May 13, 2014 |
referred to commerce, economic development and small business |
Senate Bill S7329
2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Assembly 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
Actions
Votes
2013-S7329 (ACTIVE) - Details
- Current Committee:
- Assembly Economic Development
- Law Section:
- Economic Development Law
- Laws Affected:
- Amd §402, Ec Dev L
2013-S7329 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7329 TITLE OF BILL: An act to amend the economic development law, in relation to extending the date of the application and approval process for the economic transformation and facility redevelopment program PURPOSE: To honor the State's commitment to help local communities affected by the 2011 closure of correctional facilities and juvenile justice facilities by allowing a meaningful opportunity to utilize the tax credit program which offers incentives for job creation and local investment. SUMMARY OF PROVISIONS: Amends Section 402(1) of the Economic Development Law to extend the deadline by which a business entity must apply for tax credits for locations within an Economic Transformation Area for a recently closed correctional facility or juvenile justice facility. The current deadline of January 1, 2015 would be extended to January 1, 2018. JUSTIFICATION: In 2011, several correctional facilities and juvenile justice facilities throughout the state were closed. As part of the 2011 State Budget, the Governor and Legislature agreed to measures to try to ameliorate the impact of the closures and promote economic development in these vulnerable communities. Part V of Chapter 61 of the Laws of 2011 added Article 18 to the
2013-S7329 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7329 I N S E N A T E May 13, 2014 ___________ Introduced by Sen. FARLEY -- 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 extending the date of the application and approval process for the economic transformation and facility redevelopment program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 402 of the economic development law, as added by section 2 of part V of chapter 61 of the laws of 2011, is amended to read as follows: 1. A business entity must submit a completed application as prescribed by the commissioner by the later of (a) the date that is three years after the date of the closure of the closed facility located in the economic transformation area in which the business entity would operate or (b) January first, two thousand [fifteen] EIGHTEEN. S 2. This act shall take effect immediately; provided, however, that the amendments to section 402 of article 18 of the economic development law made by section one of this act shall not affect the repeal of such article and shall be deemed to be repealed therewith. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15045-01-4
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