New York State Senator Ken LaValle and Assemblyman Fred Thiele, Jr., today announced that a bill the two Legislators sponsored (S.7229-B/A.9533-B) creating a hospitality business investment real property tax exemption was signed into law on Friday, November 21st as Chapter 470 of the Laws of 2014.

As Assemblyman Thiele explained, “Southampton Town Councilman Stan Glinka came to us with concern over the short supply of suitable hotels, motels and similar hospitality-related businesses in the Town of Southampton. As such we were able to craft and pass legislation to expand and improve the Towns supply of hospitality enterprises.”

Senator LaValle noted, “This new law will enable Southampton to better accommodate its thriving, growing tourism industry.” He continued, “In addition to increasing accommodations, the tax exemption will also attract professionals affiliated with the Hospitality Industry, and spur economic growth for the area, which will benefit both homeowners and businesses.”

Southampton Town Councilman Stan Glinka said, ““I was delighted to hear that the Hospitality Business Tax Exemption was signed into law” said Southampton Town Councilman Stan Glinka. “Thanks to the great efforts of Assemblyman Thiele and Senator LaValle, Southampton Town has been given the tools necessary to grant this tax relief and ensure that our important hospitality industry is thriving and competitive. The Town must now act to put the exemption into effect on the local level and Councilwoman Christine Preston Scalera and I will be co-sponsoring legislation to do just that in the coming weeks.”

Southampton Town Councilwoman Christine Scalera expressed her thanks to Assemblyman Thiele and Senator LaValle for this state legislation noting that “this law will only serve to help the community as a whole both in terms of revenue and beautification. I’m always excited for opportunities to lessen the tax burden on our small businesses while encouraging re-investment in the community.”