Here’s the bill memo on Gov. Andrew Cuomo’s proposal to allow for tax-free zones for businesses who locate near college campuses.
It’s unclear what changes have been made in the final version. Cuomo is expected to release more details later today.
Businesses would get 10 years of paying no taxes, including income taxes. High-income employees would have to pay some income taxes in years five through 10.
The program is focused on upstate New York, but it does include provisions to allow for some development in New York City and it suburbs, including Westchester.