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.
State or Territory: | New York |
Effected Jurisdiction: | New York City |
Jurisdiction type: | Municipality |
Fiscal year ending In: | 2018 |
Program name: | Relocation and Assistance Program (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: | New York State Real Property Tax Law: Laws of 2015, Chapter 20 (Part A, §65) |
Abating jurisdiction(s): | City of New York |
Applicable taxes: | General Corporation Tax; Banking Corporation Tax; Unincorporated Business Tax; Utility Tax |
Method of abatement: | Tax Credit |
Provisions for recapture: | (no provisions for recapture) |
Gross revenue loss: | $32,000,000 |
Reimbursement / offset: | $0 |
Net revenue loss: | $32,000,000 |
Type of loss: | Active |
Additional notes on dislosure: | (none) |