New York Assembly Bill A06893 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 6893 2025-2026 Regular Sessions  IN ASSEMBLY March 18, 2025 ___________ Introduced by M. of A. PRETLOW -- read once and referred to the Commit- tee on Ways and Means AN ACT to amend the tax law, in relation to qualifying property under brownfield redevelopment tax credits The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Clause (iii) of subparagraph (B) of paragraph 3 of subdivi- 2 sion (b) of section 21 of the tax law, as amended by chapter 420 of the 3 laws of 2006, is amended to read as follows: 4 (iii) has a situs on a qualified site in this state, and is located in 5 a brownfield opportunity area as designated pursuant to section nine 6 hundred seventy-r of the general municipal law, an empire zone as desig- 7 nated pursuant to article eighteen-B of the general municipal law, an 8 environmental zone as defined in paragraph six of this subdivision or an 9 urban renewal area pursuant to article fifteen of the general municipal 10 law; and 11 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10528-01-5