NY S07609

Allows empire zone enterprises decertified on or after April 1, 2009 to be reinstated if a New York State Supreme Court, Appellate Division determined the decertification was improper.

Entitles reinstated enterprises to receive any empire zone benefits, tax credits, or refunds for tax years beginning on or after January 1, 2009.

Treats claims for tax reductions and refunds as timely filings regardless of when submitted, superseding standard tax law deadlines under section 687 of the tax law.

Extends refund eligibility to shareholders, partners, and members of reinstated entities for overpaid taxes and tax credit refunds from tax years 2009 forward.

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