Gov. Andrew Cuomo has released the legislation creating his Tax-Free NY proposal.
"This legislation will promote entrepreneurialism and job creation by transforming public higher education as “Tax- Free Communities” across the state, particularly upstate," says the bill memo. "The State University of New York campus system will serve as the framework for entrepreneurial Tax-Free Communities."
A copy of the bill is available below.
The memo adds, "The program will entice companies to bring their ventures to these communities by offering new businesses and expanding businesses that create net new jobs the opportunity to operate completely tax-free – including no income tax for employees, no sales, property or business tax – while partnering with higher education institutions."
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