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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateNew York
Effected JurisdictionNew York City
Jurisdiction type: Municipality
Fiscal year ending In2019
Program nameRelocation and Assistance Programs (REAP), Lower Manhattan Relocation and Employment Assistance Program for Eligible Benefits (LMREAP-EB) and Lower Manhattan Relocation and Employment Assistance Program for Special Eligible Benefits (LMREAP-SEB)
Program purpose: Business attraction/retention/expansion
Statutory authority: NYC Administrative Code: Title 11, Chapter 6, Subchapter 3, Part 4, Section 11-643.9, 11-1105.211-1105.3.
Abating jurisdiction(s): New York, New York
Applicable taxesGeneral Corporation Tax; Banking Corporation Tax; Unincorporated Business Tax; Utility Tax
Method of abatement: Tax Credit
Provisions for recapture: (not specified)
Gross revenue loss: $33,000,000
Reimbursement / offset: $0
Net revenue loss: $33,000,000
Type of loss: Active
Additional notes on dislosure(none)