§ 22-628 Authorization to provide relocation assistance credit per employee.
AC § 22-628
(a)An eligible business that relocates shall be allowed to receive a credit against a tax imposed by chapter five, subchapter two, three or three-A of chapter six of title eleven of this code, as described in subdivision (r) of section 11-503, subdivision twenty-four of section 11-604, section 11-643.10, or subdivision twenty-four of section 11-654 of this code.
(b)No eligible business shall be authorized to receive a credit against tax under the provisions of this chapter and of title eleven of this code as described in subdivision (a) of this section, unless the premises with respect to which it is claiming the credit are eligible premises and until it has obtained an initial certification of eligibility from the mayor and an annual certification from 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's taxable year. Each initial certification of eligibility shall include the maximum approved employment shares for the eligible business, which shall not exceed five hundred employment shares. Any written documentation submitted to the mayor in order to obtain any such certification shall be deemed a written instrument for purposes of section 175.00 of the penal law. An application fee for such certification shall be determined by the mayor. No initial certification of eligibility shall be issued to an eligible business on or after July first, two thousand twenty-eight unless: (1) prior to such date such business has purchased, leased or entered into a contract to purchase or lease eligible premises; (2) prior to such date such business submits a preliminary application for an initial certification of eligibility to such mayor with respect to a proposed relocation to such premises; (3) such business enters into a lease or contract to purchase an eligible premises between the date that such business submits such preliminary application and three months thereafter; and (4) such business relocates to such premises not later than thirty-six months from the date of submission of such preliminary application.
(c)Notwithstanding any provision of law to the contrary, the mayor shall not issue an initial certification of eligibility that would cause the program total to exceed three thousand maximum approved employment shares. The mayor shall approve such applications on a first-come, first-serve basis among eligible businesses in accordance with rules promulgated pursuant to subdivision (d) of this section. The mayor shall include on the mayor's website an indication regarding whether the program total has reached three thousand maximum approved employment shares.
(d)The mayor shall be authorized to promulgate rules and regulations to administer and ensure 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.
(e)For the duration of the benefit period, the recipient of a credit shall file an application for an annual certification each year demonstrating such recipient's eligibility for such credit and the average wage and benefits offered to the applicable relocated employees used in determining eligible aggregate employment shares. Such mayor shall have the authority to require that statements filed under this subdivision be filed electronically and that such statements be certified. (2025 N.Y. Laws Ch. 171, 6/26/2025, eff. 7/1/2025)
