N.Y. General City Law § 25-EE – Authorization to provide relocation and employment assistance credits in Lower Manhattan

(a) Any city having a population of one million or more is hereby authorized and empowered to adopt and amend a local law allowing an eligible business that relocates as defined in subdivision (j) of section twenty-five-dd of this article or a special eligible business that relocates as defined in subdivision (m) of section twenty-five-dd of this article to receive a credit against a tax imposed under a local law enacted pursuant to part two or three of section one or section two of chapter seven hundred seventy-two of the laws of nineteen hundred sixty-six or a gross receipts tax imposed under a local law enacted pursuant to subdivision (a) of section twelve hundred one of the tax law. The amount of such credit shall be determined by multiplying three thousand dollars by the number of eligible aggregate employment shares maintained by the taxpayer during the taxable year with respect to eligible premises to which the taxpayer has relocated, and may be taken, pursuant to the provisions of section four-i of part two of section one, or paragraph two of subdivision (k) of section one hundred one of section two of chapter seven hundred seventy-two of the laws of nineteen hundred sixty-six, or pursuant to the provisions of a local law enacted pursuant to subdivision (a) of section twelve hundred one of the tax law, for up to thirteen consecutive taxable years beginning with the taxable year in which the eligible business relocates as defined in subdivision (j) of section twenty-five-dd of this article; provided that no such credit shall be allowed for the relocation of any retail activity or hotel services.
(b) No eligible business or special eligible business shall be authorized to receive a credit against tax under any local law enacted pursuant to this article until the premises with respect to which it is claiming the credit meet the requirements in the definition of eligible premises and until it has obtained a certification of eligibility from the mayor of such city or any agency designated by such mayor, and an annual certification from such mayor or an agency designated by such mayor as to the number of eligible aggregate employment shares maintained by such eligible business or such special eligible business that may qualify for obtaining a tax credit for the eligible business's taxable year. No special eligible business shall be authorized to receive a credit against tax under the provisions of this article unless the number of relocated employee base shares calculated pursuant to subdivision (o) of section twenty-five-dd of this article is equal to or greater than the lesser of twenty-five percent of the number of New York city base shares calculated pursuant to subdivision (p) of such section and two hundred fifty employment shares. Any written documentation submitted to such mayor or such agency or agencies in order to obtain any such certification shall be deemed a written instrument for purposes of section 175.00 of the penal law. Such local law may provide for application fees to be determined by such mayor or such agency or agencies. No certification of eligibility shall be issued under any local law enacted pursuant to this article to an eligible business on or after July first, two thousand twenty-eight unless:
1. (1) prior to such date such business has purchased, leased or entered into a contract to purchase or lease premises in the eligible Lower Manhattan area or a parcel on which will be constructed such premises;
2. (2) prior to such date improvements have been commenced on such premises or parcel, which improvements will meet the requirements of subdivision (e) of section twenty-five-dd of this article relating to expenditures for improvements;
3. (3) prior to such date such business submits a preliminary application for a certification of eligibility to such mayor or such agency or agencies with respect to a proposed relocation to such premises; and
4. (4) such business relocates to such premises as provided in subdivision (j) of section twenty-five-dd of this article not later than thirty-six months or, in a case in which the expenditures made for the improvements specified in paragraph two of this subdivision are in excess of fifty million dollars within seventy-two months from the date of submission of such preliminary application.
(c) Such mayor or any agency or agencies designated by such mayor shall be authorized to promulgate rules and regulations to administer and assure compliance with the provisions of this article, including but not limited to rules and regulations to provide for alternative methods to measure employment shares in instances where an eligible business is not required by law to maintain weekly records of full-time work weeks and part-time work weeks of employees, partners or sole proprietors as defined in subdivision (g) of section twenty-five-dd of this article.
(d) An eligible business, or a special eligible business, other than a utility company subject to the supervision of the department of public service shall not be authorized to receive a credit against a tax imposed pursuant to the provisions of a local law enacted pursuant to subdivision (a) of section twelve hundred one of the tax law unless such eligible business or special eligible business elects to take the credit authorized by this section against the tax imposed by such local law on its application filed with such mayor or the agency designated by such mayor pursuant to subdivision (b) of this section. The election authorized by this subdivision may not be withdrawn after the issuance of such certification of eligibility. No taxpayer that has previously received a certification of eligibility to receive such credit against any tax imposed under a local law enacted pursuant to part two or three of section one or section two of chapter seven hundred seventy-two of the laws of nineteen hundred sixty-six may make the election authorized by this subdivision. No taxpayer that makes the election provided in this subdivision shall be authorized to take such credit against any tax imposed under a local law enacted pursuant to part two or three of section one or section two of chapter seven hundred seventy-two of the laws of nineteen hundred sixty-six.
(e) For the duration of the benefit period, the recipient of benefits shall file annually, along with the aforementioned original and annual certificates of eligibility, the average wage and benefits offered to the applicable relocated employees used in determining eligible aggregate employment shares, pursuant to subdivision (i) of section twenty-five-y of this chapter. The department shall have the authority to require that statements filed under this subdivision be certified.