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 220.9 - Procedures for amending approved plans seeking designation of tax-free NY areas
Current through Register Vol. 44, No. 38, September 21, 2022
This section applies to any amendments to plans seeking designation of tax-free NY areas that have been approved by the commissioner or the START-UP NY Approval Board.
(a) A sponsor may seek to amend or modify the approved plan at any time. Amendments or modifications shall be submitted in the same manner as the original plan. The amendment must be submitted for approval pursuant to the procedures and requirements set forth in section 220.7 or 220.8 of this Part, whichever is applicable.
(b) Where a business has located and been approved to participate in the START-UP NY Program, amendments or modifications to the sponsor's plan may not violate the terms of any lease with such business in the approved tax-free NY area.
(c) Where a business that has located and been approved to participate in the START-UP NY Program is terminated from the program because it no longer meets the eligibility requirements of the program, and the business chooses not to relocate from the approved tax-free NY area, and the business does not have a lease with the sponsor, the sponsor may seek to amend or modify the plan to allocate an amount of vacant land or space equal to the amount of space occupied by the terminated business.
(d) Any amendments or modifications must be approved pursuant to the procedures and requirements set forth in section 220.7 or 220.8 of this Part, whichever is applicable.
Amended New York State Register November 20, 2019/Volume XLI, Issue 47, eff. 11/20/2019