§ 25-dd. Definitions. When used in this article, the following terms\nshall have the following meanings:\n (a) "Eligible business" means any person subject to a tax imposed\nunder a local law enacted pursuant to part two or three of section one,\nor section two, of chapter seven hundred seventy-two of the laws of\nnineteen hundred sixty-six or a gross receipts tax imposed under a local\nlaw enacted pursuant to subdivision (a) of section twelve hundred one of\nthe tax law, that: (1) has been conducting substantial business\noperations at one or more business locations outside the city of New\nYork for the twenty-four consecutive months immediately preceding the\ntaxable year during which such eligible business relocates as defined in\nsubdivision (j) of this section but has not maintained employment shares\nat premises in the city of New York at any time during the period\nbeginning January first, two thousand two and ending on the date it\nenters into a lease or a contract to purchase the premises that will\nqualify as eligible premises pursuant to this article; and (2) on or\nafter July first, two thousand three relocates as defined in subdivision\n(j) of this section all or part of such business operations.\n (b) "Person" includes any individual, partnership, association,\njoint-stock company, corporation, estate or trust, limited liability\ncompany, and any combination of the foregoing.\n (c) "Retail activity" means any activity which consists predominately\nof the sale, other than through the mail, or by the telephone or by\nmeans of the internet, of tangible personal property to any person, for\nany purpose unrelated to the trade or business of such person, or which\nconsists predominately of the selling of services to individuals which\ngenerally involve the physical, mental and/or spiritual care of such\nindividuals, or the physical care of the personal property of any person\nunrelated to the trade or business of such person, or which consists\npredominately of the provision of retail banking services.\n (d) "Hotel services" means any services which consist predominately of\nthe lodging of guests at a building or a portion thereof which is\nregularly used and kept open for such services. The term "hotel\nservices" shall include the lodging of guests at an apartment hotel, a\nmotel, boarding house or club, whether or not meals are served.\n (e) "Eligible premises" means: (1) nonresidential premises which are\nwholly contained in real property which is certified as eligible to\nreceive benefits pursuant to a local law enacted in accordance with\ntitle two-C or title two-D of article four of the real property tax law,\nprovided that such premises have been improved by construction or\nrenovation, that expenditures have been made after June thirtieth, two\nthousand three, or in the case of a relocation by a special eligible\nbusiness, after June thirtieth, two thousand five, for improvements to\nsuch real property in excess of fifty per centum or, in the case of\nindustrial property, in excess of twenty-five per centum, of the value\nat which such real property was assessed for tax purposes for the tax\nyear in which such improvements commenced and such expenditures have\nbeen made within thirty-six months or, in the case of expenditures for\nsuch improvements to such real property in excess of fifty million\ndollars within seventy-two months from such commencement and, provided\nfurther, that such real property is located in the eligible Lower\nManhattan area, and provided further, that in the case of a special\neligible business, a lease or contract to purchase such premises is\nfirst entered into by the special eligible business after June\nthirtieth, two thousand five;\n (2) nonresidential premises which are: (i) wholly contained in or\nsituated on real property which has been leased from an industrial\ndevelopment agency established pursuant to article eighteen-A of the\ngeneral municipal law, provided that such
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