New York 2025-2026 Regular Session

New York Senate Bill S00582

Introduced
1/8/25  
Refer
1/8/25  

Caption

Provides that a green CHIPS project means that the project shall meet certain criteria, including but not limited to, it will create at least 250 new net jobs or make at least 3 billion dollars in qualified investment; makes related provisions.

Summary

Bill S00582 amends the economic development law to define 'Green CHIPS projects' and establish criteria for their eligibility. These projects must be in the semiconductor manufacturing sector and include sustainability measures to reduce greenhouse gas emissions. Additionally, they must provide for federal prevailing wage rates, commit to worker and community investment, and create at least 250 net new jobs or make a minimum investment of $3 billion. The bill also outlines a benefit-cost ratio requirement for these projects.

Impact

The bill will impact state laws by formalizing the definition and requirements for Green CHIPS projects, thus facilitating the growth of the semiconductor industry in New York while ensuring environmental sustainability and community investment. It establishes a framework for financial incentives tied to job creation and investment, potentially leading to economic growth in the region.

Sentiment

The sentiment around the bill appears to be generally positive, as it aligns with current economic development goals and environmental sustainability initiatives. However, there may be concerns regarding the feasibility of meeting the job creation and investment thresholds, which could lead to discussions in future committee meetings.

Contention

Notable points of contention may arise regarding the stringent criteria for job creation and investment, particularly the requirement for creating 250 new jobs and the $3 billion investment threshold. Some stakeholders may argue that these requirements could be too ambitious, potentially limiting participation from smaller companies or startups in the semiconductor sector.

Companion Bills

No companion bills found.

Previously Filed As

NY A11147

Defines community significant projects as a business creating or retaining current jobs as determined by the commissioner, with particular emphasis on employment and/or training of current public housing residents; currently located or to be located in existing leased space of a building in a public housing development in the state; and which makes significant qualified capital investments to start a business, or improve services and working conditions for an existing business, when located in such public housing space and including such projects in the excelsior jobs program.

NY H8195

Provides a tax credit to a taxpayer that makes a qualified investment in a qualified business.

NY S2833

Provides a tax credit to a taxpayer that makes a qualified investment in a qualified business.

NY SB98

Providing a sales tax exemption for the construction or remodeling of a qualified data center in Kansas and the purchase of data center equipment, eligible data center costs and certain labor costs to qualified firms that commit to a minimum investment of at least $250,000,000 and meet new Kansas jobs and other requirements.

NY A10786

Enacts the "regents modernization act" to require the board of regents shall be at all times at least four times more than the number of the then existing judicial districts of the state and shall not be less than fifteen; makes related provisions.

NY S06021

Establishes the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program for qualified rehabilitation expenditures totaling fifty million dollars or more with respect to a certified historic structure that has been vacant, as determined by local code enforcement or other reasonable means, for at least ten of fifteen consecutive years preceding the date of the taxpayer's application for the rehabilitation credit.

NY A10366

Establishes the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program for qualified rehabilitation expenditures totaling fifty million dollars or more with respect to a certified historic structure that has been vacant, as determined by local code enforcement or other reasonable means, for at least ten of fifteen consecutive years preceding the date of the taxpayer's application for the rehabilitation credit.

NY A10560

Requires state agencies that issue requests for proposals to provide notification to elected officials for requests for proposals for projects in excess of ten million dollars.

NY A09298

Enacts the "next-gen civics act" to provide education to students in grades nine through twelve on civic education; provides that such instruction shall include, but not be limited to, a hands-on, project-based curriculum where students shall apply what they learn through activities that include, but are not limited to, mock elections, community projects, and policy simulations.

NY A11237

Requires certain construction project contracts with a value of greater than or equal to five million dollars to include siting of renewable energy systems, qualified energy storage systems, or major electric transmission facilities.

Similar Bills

No similar bills found.