NY A10223

Allows empire zone enterprises decertified on or after April 1, 2009 to claim any benefits, tax credits, or refunds owed for tax years beginning January 1, 2009 or later if reinstated following a New York State Supreme Court, Appellate Division determination that the decertification was improper.

Deems any claims for tax reduction and refunds made by reinstated entities or their shareholders, partners, or members as timely filed regardless of when submitted, overriding standard tax law limitations.

Requires payment of any overpayment of tax or refund of tax credits owed to qualifying reinstated entities.

Takes effect immediately and applies only to taxable years beginning on or after January 1, 2009.