(a) An eligible business that relocates as defined in subdivision (j) of section 22-621 of the code shall be allowed to receive a credit against a tax imposed by chapter five, or subchapter two, three or three-A of chapter six, or chapter eleven, of title eleven of the code, as described in subdivision (i) of section 11-503, subdivision seventeen of section 11-604, subdivision seventeen of section 11-654, section 11-643.7 and section 11-1105.2 of the code, and a reduction in base rent subject to tax as described in subdivision f of section 11-704 of the code, provided, however, notwithstanding any other provision of law to the contrary, no such credit shall be allowed against the tax imposed under such chapter eleven for a relocation taking place prior to January first, nineteen hundred ninety-nine.
(b) No eligible business shall be authorized to receive a credit against tax or a reduction in base rent subject to tax under the provisions of this chapter, and of title eleven of the code as described in subdivision (a) of this section, 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 or an agency designated by the mayor, and an annual certification from the mayor or an agency designated by the mayor as to the number of eligible aggregate employment shares maintained by such eligible business that may qualify for obtaining a tax credit for the eligible business' taxable year. Any written documentation submitted to the 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. Application fees for such certifications shall be determined by the mayor or such agency or agencies. No certification of eligibility shall be issued to an eligible business on or after July 31 first, two thousand twenty-five unless:
(1) prior to such date such business has purchased, leased or entered into a contract to purchase or lease particular premises or a parcel on which will be constructed such premises or already owned such premises or parcel;
(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 22-621 of this chapter relating to expenditures for improvements;
(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 particular premises; and
(4) such business relocates to such particular premises not later than thirty-six months or, in a case in which the expenditures made for 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) The mayor or an agency or agencies designated by the mayor shall be authorized to promulgate rules and regulations to administer and assure compliance with the provisions of this chapter, 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 22-621 of this chapter.
(d) An 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 the gross receipts tax imposed under chapter eleven of title eleven of the code, unless such eligible business elects to take the credit authorized by this section against the tax imposed by such chapter on an application filed with respect to the first relocation of such business that qualifies or will qualify under this section, with the 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 by chapter five or subchapter two, three or three-A of chapter six of title eleven of the code 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 by chapter five or subchapter two, three or three-A of chapter six of title eleven of the code.
(e) Notwithstanding other provisions of this chapter, an eligible business that has obtained pursuant to subdivision (b) of this section a certification of eligibility for a relocation to particular eligible premises may apply to the mayor of such city or an agency designated by such mayor to have premises in a building, other than the building in which such particular eligible premises are located, certified as designated additional or replacement premises as defined in subdivision (q) of section 22-621 of this chapter. After the certification provided for in this subdivision has been obtained, any aggregate employment shares maintained by the eligible business in such premises shall be treated as if such employment shares were maintained in the particular premises to which the eligible business relocated. No such certification shall be issued after the end of the period during which the credit may be taken with regard to the relocation to such particular eligible premises, and the issuance of such certification shall not extend such period. Provided, however, (i) no premises shall be certified as designated additional or replacement premises if the eligible business maintained employment shares in such premises prior to the application for certification provided for in this subdivision, (ii) no premises shall be certified as designated additional or replacement premises unless such premises meet the requirements for eligible premises in subdivision (e) of section 22-621 of this chapter, and (iii) if the particular premises to which the eligible business relocated are in a revitalization zone, no premises shall be certified as designated additional or replacement premises with regard to such relocation unless such designated additional or replacement premises are located in a revitalization zone.
(f) (1) (i) Notwithstanding the provisions of subdivision (i) of section 22-621 of this chapter, in the case of an eligible business meeting the criteria in subparagraphs (ii) and (iii) of this paragraph, the mayor or his or her designee, in his or her discretion, may for any taxable year in which such business is eligible to receive the credit provided for in this section, determine the number of eligible aggregate employment shares as provided in paragraph two of this subdivision, and such number shall be deemed to be the number of eligible aggregate employment shares determined pursuant to such subdivision (i) of section 22-621 for the purpose of attributing shares pursuant to subdivision (o) of section 22-621 of this chapter to relocations as defined in subdivision (j) of such section 22-621 occurring after July first, two thousand three:
(ii) in the case of a relocation before July first, two thousand five, in the taxable year prior to its first relocation after July first, two thousand three (such prior year being hereafter referred to as the "base year"), such eligible business maintained more than one hundred aggregate employment shares in the eligible Lower Manhattan area as defined in subdivision (f) of section 22-623 of this title, provided that in the case of a relocation after June thirtieth, two thousand five, in the taxable year prior to its first relocation after such date (such prior year being hereafter referred to as the "base year"), such eligible business maintained one or more aggregate employment shares in such eligible Lower Manhattan area, and
(iii) in the case of a relocation before July first, two thousand five, in the taxable year subsequent to the base year for which the determination of eligible aggregate employment shares is being made, the number of aggregate employment shares in the eligible Lower Manhattan area maintained by the eligible business is less than the number of aggregate employment shares it maintained in such area in the base year reduced by one hundred, provided that in the case of a relocation after June thirtieth, two thousand five, in the taxable year subsequent to the base year for which the determination of eligible aggregate employment shares is being made, the number of aggregate employment shares in the eligible Lower Manhattan area maintained by the eligible business is less than the number of aggregate employment shares it maintained in such area in the base year.
(2) The number of eligible aggregate employment shares determined under this paragraph shall be the number of eligible aggregate employment shares determined pursuant to subdivision (i) of section 22-621 of this chapter without regard to paragraphs one and three of such subdivision (i), less the reduction amount provided for in paragraph three of this subdivision.
(3) For any taxable year, the reduction amount shall be the excess of (i) the number of aggregate employment shares maintained by the eligible business in the eligible Lower Manhattan area in the base year, over (ii) the number of aggregate employment shares maintained by the eligible business in the eligible Lower Manhattan area in the taxable year.
(4) Notwithstanding anything herein to the contrary, the number of eligible aggregate employment shares may be determined pursuant to paragraph two of this subdivision only if the number of such shares determined pursuant to such paragraph two is less than the number of such shares determined pursuant to subdivision (i) of section 22-621 of this chapter.
(5) The mayor, or his or her designee, may exercise the discretion provided for in paragraph one of this subdivision if he or she determines it to be in the best interests of the city, taking into account whether the credit provided for in this section caused the reduction in the number of jobs maintained by the eligible business in the eligible Lower Manhattan area.
(g) 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 22-621 of this chapter. The department shall have the authority to require that statements filed under this subdivision be certified.
(Am. 2015 N.Y. Laws Ch. 20 Pt. A § 37, 6/26/2015, eff. 6/26/2015; Am. 2017 N.Y. Laws Ch. 61, 6/29/2017, eff. 6/29/2017; Am. 2020 N.Y. Laws Ch. 56, 4/3/2020, eff. 4/3/2020)