Establishes local labor requirements for real property tax business investment exemptions in New York.

New York S04785 amends the real property tax law to establish local labor requirements for real property tax business investment exemptions. It mandates that 85% of workers hired by a contractor or developer for a project must be from the same county or an adjoining county, or from the state of New York if necessary. Exemptions can be granted if local or state labor is unavailable, specialized skills are required, or cost differentials significantly increase project costs.

Establishes local labor requirements for real property tax business investment exemptions in New York.

New York S04785 amends the real property tax law to establish local labor requirements for real property tax business investment exemptions. It mandates that 85% of workers hired by a contractor or developer for a project must be from the same county or an adjoining county, or from the state of New York if necessary. Exemptions can be granted if local or state labor is unavailable, specialized skills are required, or cost differentials significantly increase project costs.