N.Y. COM Law § 359

§ 359. Cap on tax credit. The total amount of tax credits listed on\ncertificates of tax credit issued by the commissioner for any taxable\nyear may not exceed the limitations set forth in this section. One-half\nof any amount of tax credits not awarded for a particular taxable year\nin years two thousand eleven through two thousand twenty-four may be\nused by the commissioner to award tax credits in another taxable year.\nCredit components in the aggregate With respect to taxable\nshall not exceed: years beginning in:\n $ 50 million 2011\n $ 100 million 2012\n $ 150 million 2013\n $ 200 million 2014\n $ 250 million 2015\n $ 183 million 2016\n $ 183 million 2017\n $ 183 million 2018\n $ 183 million 2019\n $ 183 million 2020\n $ 183 million 2021\n $ 133 million 2022\n $ 83 million 2023\n $ 36 million 2024\n Twenty-five percent of tax credits shall be allocated to businesses\naccepted into the program under subdivision four of section three\nhundred fifty-three of this article and seventy-five percent of tax\ncredits shall be allocated to businesses accepted into the program under\nsubdivision three of section three hundred fifty-three of this article.\n Provided, however, if by September thirtieth of a calendar year, the\ndepartment has not allocated the full amount of credits available in\nthat year to either: (i) businesses accepted into the program under\nsubdivision four of section three hundred fifty-three of this article or\n(ii) businesses accepted into the program under subdivision three of\nsection three hundred fifty-three of this article, the commissioner may\nallocate any remaining tax credits to businesses referenced in this\nparagraph as needed; provided, however, that under no circumstances may\nthe aggregate statutory cap for all program years be exceeded. One\nhundred percent of the unawarded amounts remaining at the end of two\nthousand twenty-four may be allocated in subsequent years,\nnotwithstanding the fifty percent limitation on any amounts of tax\ncredits not awarded in taxable years two thousand eleven through two\nthousand twenty-four. Provided, however, no tax credits may be allowed\nfor taxable years beginning on or after January first, two thousand\ntwenty-seven.\n