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: | 2020 |
Program name: | Industrial Incentive Program - Sales Tax Abatement |
Program purpose: | General Economic Development |
Statutory authority: | Industrial Development Act of 1969 as governed by Article 18: A of the General Municipal Law |
Abating jurisdiction(s): | City of New York |
Applicable taxes: | State and Local Sales Tax |
Method of abatement: | Tax Exemption |
Provisions for recapture: | Non-compliance with lease provisions authorizes benefit recapture |
Gross revenue loss: | $750,000 |
Reimbursement / offset: | $0 |
Net revenue loss: | $750,000 |
Type of loss: | Active |
Additional notes on dislosure: | (none) |