(a) An eligible business that relocates as defined in subdivision (j) of section 22-623 of this chapter or a special eligible business that relocates as defined in subdivision (m) of section 22-623 of this chapter 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 (l) of section 11-503, subdivision nineteen of section 11-604, subdivision nineteen of section 11-654, section 11-643.9 or section 11-1105.3 of the code.
(b) No eligible business or special eligible business shall be authorized to receive a credit against 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 or special eligible business that may qualify for obtaining a tax credit for the eligible business' taxable year. No special eligible business shall be authorized to receive a credit against tax under the provisions of this chapter and of title eleven of the code unless the number of relocated employee base shares calculated pursuant to subdivision (o) of section 22-623 of this chapter 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 22-623, and two hundred fifty employment shares. 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 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 premises in the eligible Lower Manhattan area or a parcel on which will be constructed such premises;
(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 22-623 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 premises; and
(4) such business relocates to such premises 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) 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 22-623 of this chapter.
(d) An eligible business or 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 the gross receipts tax imposed under chapter eleven of title eleven of the code unless such eligible business or special eligible business elects to take the credit authorized by this section against the tax imposed by such chapter on its application filed 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) 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 22-623 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 § 38, 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)