(a) Agree to allow the department of taxation and finance to share its
tax information with the department. However, any information shared as
a result of this agreement shall not be available for disclosure or
inspection under the state freedom of information law.
(b) Agree to allow the department of labor to share its tax and
employer information with the department. However, any information
shared as a result of this agreement shall not be available for
disclosure or inspection under the state freedom of information law.
(c) Agree to not participate in the excelsior jobs program, the New
York state empire zones program, or claim any tax credits under the
brownfield cleanup program if admitted into the economic transformation
and facility redevelopment program with regard to the facility (or
facilities) located in the economic transformation area.
(d) Provide the following information to the department upon request:
(i) a plan outlining the schedule for meeting the job and investment
requirements set forth in section four hundred one of this article,
including details on job titles and expected salaries;
(ii) the prior three years of federal and state income or franchise
tax returns, unemployment insurance quarterly returns, real property tax
bills and audited financial statements;
(iii) the amount and description of projected qualified investments
for which it plans to claim the economic transformation and facility
redevelopment investment tax credit;
(iv) the employer identification numbers or social security numbers
for all related persons to the applicant, including those of any members
of a limited liability company or partners in a partnership.
(e) Provide a clear and detailed presentation of all related persons
to the applicant to assure the department that jobs are not being
shifted within the state.
(f) Certify, under penalty of perjury, that it is in substantial
compliance with all environmental, worker protection, and local, state,
and federal tax laws.
(g) Agree, to the extent practicable, to consider for employment
persons displaced by a facility closure.
3. After reviewing a business entity's completed application and
determining that the business entity satisfies the requirements in
subdivision four of section four hundred of this article and will meet
eligibility requirements set forth in section four hundred one of this
article, the department may, at the discretion of the commissioner,
admit the applicant into the program and provide the applicant with a
certificate of eligibility. If a participant does not start construction
on or acquire a qualified investment or create at least one net new job
within one year of the issuance of its certificate of eligibility, the
participant will not be eligible for any of the economic transformation
and facility redevelopment program tax credits.
4. A participant may claim tax credits pursuant to section thirty-five
of the tax law commencing in the first taxable year in which the
participant creates five net new jobs. A participant may claim such
benefits for the next four consecutive taxable years, provided that the
participant demonstrates to the commissioner of taxation and finance
that it continues to maintain five net new jobs. However, in no event
may that benefit period start later than two years after the certificate
of eligibility is issued. The participant may also be eligible for the
economic transformation and facility redevelopment sales tax refund.
* NB Repealed December 31, 2026