Plugged In @ Hinman Straub – September 18, 2020
What’s Inside
- Governor Awards Economic Development Funds
- New Jersey Announces Agreement on Millionaire’s Tax
- New York Issues Proposed Regulations on Renewable Siting
- Plastic Bag Ban Enforcement to Begin
- Special Enrollment Period for New York State of Health Extended
- Durst Nominated REBNY Chair
- Political Updates
- Reminders, and Links
- Coming Up
Governor Awards Economic Development Funds
The Governor announced winners of the GENIUS NY economic development competition this week, with the $1 million first prize going to Geopipe, a 3D modeling start-up from New York City. The GENIUS NY program is a competition focused on unmanned systems, cross-connected platforms and other technology-based sectors. The accelerator is funded by Empire State Development and housed at CenterState CEO’s Tech Garden incubator in downtown Syracuse, NY. Five finalists are selected from a competitive pool of submissions each year. The accelerator provides startups the tools needed for success, including stipends and award money, resources, programming, mentors and connections. This is the fourth round of funding provided through the GENIUS NY program. This year, the program award $3 million total. Other start-ups receiving awards this year include BotsAndUs from the United Kingdom, Droneseed from Seattle, Washington, Eget Liber from Syracuse and Skyy Network from Australia. Each were awarded an investment of $500,000 and will be required to operate their business in Central New York for at least one year.
Governor Cuomo said:
“The GENIUS NY competition is transforming the landscape of Central New York as it continues to attract next generation of innovative entrepreneurs. The state’s continued investment in unmanned aerial system businesses is helping to ensure that New York remains the leader in this important industry and bringing quality jobs and growth to the Central New York region.”
New Jersey Announces Agreement on Millionaire’s Tax
New Jersey Governor Phil Murphy announced an agreement to increase taxes on the wealthy to address pandemic related budget shortfalls. According to reports, New Jersey’s marginal tax rate would increase from 8.97% to 10.75% on income over $1 million. The deal also includes a rebate of up to $500 for lower and middle-income residents. Governor Cuomo has resisted calls to increase New York’s tax rate on top earners, citing fears of mobility leading to outward migration of top income earners. Robert Mujica, the Governor’s Budget Director, released a statement pushing back on the renewed calls for tax increases.
New York State Budget Director Robert Mujica said:
“There is much discussion about the state and nation’s economic condition and the options available to New York State. Let’s make sure the discussions are informed. New Jersey has announced they will pass a millionaire’s tax that raises the tax rate on millionaires to 10.75 percent. Some have suggested New York raise the top tax rate for billionaires and millionaires to 12 percent. The overwhelming majority of billionaires and millionaires in this state live or work in New York City. The combined state and city income tax rate is already 12.6 percent — which is higher than New Jersey’s new top rate or a proposed 12 percent ‘billionaire/millionaire tax rate.”
New York Issues Proposed Regulations on Renewable Siting
The Department of State issued proposed regulations that would implement the Accelerated Renewable Energy Growth and Community Benefit Act (Act), enacted as part of the 2020-21 fiscal year budget (TED Part JJJ). The Act is intended to speed up the permitting and construction of renewable energy projects and accelerate renewable transmission delivery. The newly created Office of Renewable Energy Permitting will streamline the process for siting of large-scale renewable energy projects in the state. “Build Ready” sites will be pre-approved, permitted and auctioned to developers to prioritize the re-use of abandoned commercial sites, brownfields, landfills, former industrial sites, and otherwise underutilized sites.
The proposed regulations, released this week for public comment, will encourage local governments and communities to participate in the permitting process by requiring project applicants to consult with local governments and community members before filing an application, provide public notices at various milestones throughout the permitting process and make application materials available in both electronic and paper format. Draft siting permits will be subject to public review and comment and adjudicatory hearings will be required when significant and substantive issues are identified. Additionally, for each project, municipalities and community intervenors will have access to funds that will assist them in reviewing the project.
Plastic Bag Ban Enforcement to Begin
According to reports, enforcement on New York’s plastic bag ban will begin on October 19, 2020. The law went in to effect on March 1, 2020, but has not been enforced by the state as part of an agreement between parties in a lawsuit brought by Pol-Pak Industries Inc. In August, the Court issued a decision upholding the law and most of the regulations issued by the Department of Environmental Conservation. Beginning October 19, any retailer or “person required to collect tax” must not distribute any plastic carryout bags to its customers unless such bags are exempt bags as provided for in the Bag Waste Reduction Law.
Special Enrollment Period for New York State of Health Extended
The Governor announced that the Special Enrollment Period for uninsured New Yorkers will again be extended, this time through December 31, 2020. New Yorkers can apply for coverage through NY State of Health or directly through insurers. Individuals who enroll in Qualified Health Plans through NY State of Health or directly through insurers by October 15, 2020 will have a choice of coverage start date of either October 1, 2020 or November 1, 2020. Those enrolling between October 16 and December 15, 2020 will have a choice of coverage start date of November 1 or December 1, 2020. Those enrolling between December 16 and December 31, 2020 would get a January 1, 2021 coverage start date.
Durst Nominated REBNY Chair
Douglas Durst, Chair of the Durst Organization, was nominated to be the next chair of the Real Estate Board of New York. Durst will succeed current chair Bill Rudin. Durst is a director of REBNY and serves on its Executive Committee, Board of Governors and Management Division Owner/Labor Coordinating Committee. He also serves on the board of The New School, The Trust for Public Land and Project for Public Spaces.
Douglas Durst said in a statement:
“It is an honor to be nominated for this position by Bill Rudin and the former REBNY chairs and to be entrusted with the stewardship of our industry’s efforts for an economic recovery that is equitable for all New Yorkers. The Durst Organization has more than 105 years of history in New York City and has thrived through two World Wars, the Great Depression, the fiscal crises of the 1970s, terrorist attacks, the Great Recession and this is not even our first pandemic – we survived the influenza pandemic of 1918. That history and experience leave me uniquely prepared for the opportunity to bring a long-term perspective and optimism to REBNY because even when New York seems down, it always comes back.”
Political Update
State Senator Jamaal Bailey frontrunner to become next Bronx Democratic County Chair.
Endorsements
Coalition of New York’s police unions unite to endorse Senate Republican candidates.
Reminder and Links
City & State NY’s Winners and Losers here.
City & State NY’s Higher Education Power 50 here.
State of Politics: Should Early Retirement Incentives be on the Table here.
The City: NYC Unemployment Pain Far Worse Than Nation’s in Lagging Pandemic Recovery here.
Long Island realtors deny discriminatory practices in Senate Hearing.
Coming Up
JCOPE will hold its next meeting on September 22.
The Assembly will hold a public hearing on the impact of COVID-19 on state-funded student financial aid and access opportunity programs on September 22.
The Senate will hold a public hearing on the impact of COVID-19 on prisons and jails on September 22.
The Senate will hold a roundtable discussion on the impact of the Coronavirus on MWBEs on September 24.
The Senate will hold a public hearing on access to capital for small businesses during the COVID-19 pandemic on October 14.
The Public Service Commission will hold its next meeting on October 15.
The Board of Regents will hold their next meeting on October 19 and 20.
The Assembly will hold a public hearing on the Department of Transportation Capital Program on October 23.