New York A 11147: Relates to defining community significant projects and including such projects in the excelsior jobs program

Bill Text

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A11147 Summary:

BILL NOA11147 

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SAME ASNo Same As

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SPONSORHyndman

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COSPNSR

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MLTSPNSR

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Amd §§352, 353 & 355, Ec Dev L

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Defines community significant projects as a business creating or retaining current jobs as determined by the commissioner, with particular emphasis on employment and/or training of current public housing residents; currently located or to be located in existing leased space of a building in a public housing development in the state; and which makes significant qualified capital investments to start a business, or improve services and working conditions for an existing business, when located in such public housing space and including such projects in the excelsior jobs program.

Go to top A11147 Actions:

BILL NOA11147 

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04/27/2026referred to economic development

Go to topA11147 Committee&nbspVotes:

Go to topA11147 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA11147 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 11147

 IN ASSEMBLY

 April 27, 2026
 ___________

 Introduced by M. of A. HYNDMAN -- read once and referred to the Commit-
 tee on Economic Development

 AN ACT to amend the economic development law, in relation to defining
 community significant projects and including such projects in the
 excelsior jobs program

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivisions 17 and 20-a of section 352 of the economic
 2 development law, subdivision 17 as amended by section 1 of part K and
 3 subdivision 20-a as added by section 1 of part ZZ of chapter 59 of the
 4 laws of 2017, are amended and a new subdivision 18-a is added to read as
 5 follows:
 6 17. "Qualified investment" means an investment in tangible property
 7 (including a building or a structural component of a building) owned by
 8 a business enterprise which:
 9 (a) is depreciable pursuant to section one hundred sixty-seven of the
 10 internal revenue code;
 11 (b) has a useful life of four years or more;
 12 (c) is acquired by purchase as defined in section one hundred seven-
 13 ty-nine (d) of the internal revenue code;
 14 (d) has a situs in this state; [and]
 15 (e) is placed in service in the state on or after the date the certif-
 16 icate of eligibility is issued to the business enterprise; and
 17 (f) demolition and remediation of costs incurred and paid in the
 18 leased building by the business enterprise in a public housing develop-
 19 ment in the state, as determined by the commissioner.
 20 18-a. "Community significant project" means (a) a business creating or
 21 retaining current jobs as determined by the commissioner, with partic-
 22 ular emphasis on employment and/or training of current public housing
 23 residents; (b) currently located or to be located in existing leased
 24 space of a building in a public housing development in the state that is
 25 owned and operated by a public housing authority created under article
 26 thirteen of the public housing law; (c) which makes significant quali-
 27 fied capital investments to start a business, or improve services and

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00624-03-6

 A. 11147 2

 1 working conditions for an existing business, when located in such public
 2 housing space; and (d) creates at least five new net jobs or retaining
 3 current jobs or makes qualified capital investments to such space of a
 4 building. The commissioner shall promulgate regulations pursuant to
 5 section three hundred fifty-six of this article to determine what addi-
 6 tional criteria a business must meet to be eligible as a community
 7 significant project, including, but not limited to, incentivizing child
 8 care providers and other businesses that support the needs of the work-
 9 force residing in such public housing and the social and health needs of
 10 residents in such public housing, ensuring that residents are not
 11 displaced and ensuring that services or programs being offered to public
 12 housing residents by either a public housing authority or an entity
 13 already onsite, are not displaced in order to locate or expand a