New York S04797 establishes a manufacturing development zone program with tax credits for businesses.
New York S04797 creates a manufacturing development zone program to encourage businesses engaged in manufacturing outside the state to invest in New York. Political subdivisions can apply to designate areas as manufacturing development zones. Businesses in these zones can receive property and income tax credits. The program includes limits on the number of zones and expansions. The bill also outlines the application process and the role of the commissioner of economic development.
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