(b) No eligible business shall be authorized to receive a credit 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 an 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 that
may qualify for obtaining a tax credit for the eligible business'
taxable year. 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 such 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-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 twenty-five-y of this article 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 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 of such city or an 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-y
of this article.
(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 under a local law enacted pursuant to this article
against a gross receipts tax imposed under a local law enacted pursuant
to subdivision (a) of section twelve hundred one of the tax law, unless
such eligible business elects to take the credit authorized by this
section against the tax imposed under such local law on an application
filed with respect to the first relocation of such business that
qualifies or will qualify under a local law enacted pursuant to this
article, with the mayor of such city 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 the credit authorized
by this section 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) Notwithstanding any other provisions of this article, 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 twenty-five-y of this article. 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 eligible premises to which the eligible business relocated.
No such certification shall be issued after the end of the period
provided for in subdivision (a) of this section 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 twenty-five-y of this article, 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
twenty-five-y of this article, 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
twenty-five-y for the purpose of attributing shares pursuant to
subdivision (o) of section twenty-five-y of this article to relocations
as defined in subdivision (j) of such section twenty-five-y 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 twenty-five-dd of this chapter,
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
twenty-five-y of this article 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
twenty-five-y of this article.
(5) The mayor, or his or her designee, shall 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, a recipient of a credit
under any local law enacted pursuant to this article 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
article. The department shall have the authority to require that
statements filed under this subdivision be certified.