Provides for relocation and employment assistance credits in cities with a population of one million or more.

New York S08063 amends the general city law and administrative code to authorize credits for relocation and employment assistance in cities with a population of one million or more. Eligible businesses must relocate to premises in these cities and obtain certifications from the mayor. Credits are based on the number of eligible aggregate employment shares maintained. Credits cannot be carried over to succeeding taxable years and are subject to certain limitations and definitions. The act takes effect July 1, 2025, with certain provisions expiring January 1, 2031.

Provides for relocation and employment assistance credits in cities with a population of one million or more.

New York S08063 amends the general city law and administrative code to authorize credits for relocation and employment assistance in cities with a population of one million or more. Eligible businesses must relocate to premises in these cities and obtain certifications from the mayor. Credits are based on the number of eligible aggregate employment shares maintained. Credits cannot be carried over to succeeding taxable years and are subject to certain limitations and definitions. The act takes effect July 1, 2025, with certain provisions expiring January 1, 2031.