New York Codes, Rules and Regulations
Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT
Chapter XXII - Start-Up NY Program
Part 220 - Suny Tax-free Areas To Revitalize And Transform Upstate New York (start-up Ny) Program
Section 220.1 - Purpose and general description
Current through Register Vol. 46, No. 12, March 20, 2024
(a) The purpose of these regulations is to establish procedures and guidelines for the SUNY tax free areas to revitalize and transform upstate New York Program ("START-UP NY Program") established by article 21 of the Economic Development Law (EDL). Pursuant to sections 435 and 436 of the EDL, the Commissioner of Economic Development is authorized to promulgate regulations to establish, among other things:
(b) The START-UP NY Program is intended to promote entrepreneurialism and job creation by transforming higher education to create tax-free communities across the State, particularly in upstate New York, to attract high-tech and other start-ups, venture capital, new business and investments from across the world. The START-UP NY Program is intended to help companies, especially high-tech and start-up businesses, to start, grow and stay in New York.