N.Y. Tax Law § 1201-a

§ 1201-a. Credits against taxes administered by cities of one million\nor more. (a) Any utility company subject to the supervision of the\npublic service commission required to grant rebates or discounts on\nbills for energy services or natural gas in accordance with a local law\nadopted pursuant to article two-F of the general city law shall be\nentitled to a credit for such rebates and discounts, as provided in such\narticle of the general city law, against the amount of tax to be paid\npursuant to any gross receipts tax imposed by a local law adopted\npursuant to subdivision (a) of section twelve hundred one of this\nchapter. The amounts of such rebates and discounts shall not be treated\nas affecting or reducing the gross receipts otherwise subject to tax\nunder such gross receipts tax or reducing the amount of tax imposed by\nor pursuant to any authorization contained in this chapter.\n (b) Empire state film production credit. Any city in this state having\na population of one million or more, acting through its local\nlegislative body, is hereby authorized to adopt and amend local laws to\nallow a credit against the general corporation tax and the\nunincorporated business tax imposed pursuant to the authority of chapter\nseven hundred seventy-two of the laws of nineteen hundred sixty-six\nwhich shall be substantially identical to the credit allowed under\nsection twenty-four of this chapter, except that (A) the percentage of\nqualified production costs used to calculate such credit shall be five\npercent, (B) whenever such section twenty-four references the state,\nsuch words shall be read as referencing the city, (C) such credit shall\nbe allowed only to a taxpayer which is a qualified film production\ncompany, and (D) the effective date of such credit shall be July first,\ntwo thousand six. Such credit shall be applied in a manner consistent\nwith the credit allowed under subdivision twenty of section two hundred\nten-B of this chapter except as may be necessary to take into account\ndifferences between the general corporation tax and the unincorporated\nbusiness tax.\n (c) Empire state commercial production credit. Any city in this state\nhaving a population of one million or more, acting through its local\nlegislative body, is hereby authorized to adopt and amend local laws to\nallow a credit against the general corporation tax and the\nunincorporated business tax imposed pursuant to the authority of chapter\nseven hundred seventy-two of the laws of nineteen hundred sixty-six\nwhich shall be substantially identical to the credit allowed under the\nprovisions of section twenty-eight of this chapter, except that (A) the\npercentage of qualified production costs used to calculate such credit\nshall be five percent, (B) whenever such section twenty-eight references\nthe state, such words shall be read as referencing the city, (C) such\ncredit shall be allowed only to a taxpayer that is a qualified\ncommercial production company, and (D) the effective date of such credit\nshall be as provided in local laws. Such credit shall be applied in a\nmanner consistent with the credit allowed under subdivision twenty-three\nof section two hundred ten-B of this chapter except as may be necessary\nto take into account differences between the general corporation tax and\nunincorporated business tax.\n (d) Biotechnology credit. 1. Any city in this state having a\npopulation of one million or more, acting through its local legislative\nbody, is hereby authorized to adopt and amend local laws to allow a\ncredit against the general corporation tax, unincorporated business tax\nand the banking corporation tax imposed pursuant to the authority of\nchapter seven hundred seventy-two of the laws of nineteen hundred\nsixty-six which shall be substantially identical to the credit allowed\nunder subdivision twelve-G of section two hundred ten of this chapter,\nexcept that (A) whenever subdivision twelve-G of section two hundred ten\nof this chapter references the state, such words shall be read as\nreferencing the city, (B) such credit shall be allowed only to a\ntaxpayer that (1) is a qualified emerging technology company pursuant to\nthe provisions of paragraph (c) of subdivision one of section thirty-one\nhundred two-e of the public authorities law, except that such company\nshall mean a company located in such city, (2) engages in activities\nreferenced in subparagraph five of paragraph (b) of subdivision one of\nsection thirty-one hundred two-e of the public authorities law, and (3)\nmeets the eligibility requirements in paragraph (b) of subdivision\ntwelve-G of section two hundred ten of this chapter, and (C) the\neffective date of such credit shall be as provided in local laws.\nSubject to the limitations set forth in paragraph two of this\nsubdivision, such credit shall be applied in a manner consistent with\nthe credit allowed under subdivision twelve-G of section two hundred ten\nof this chapter except as may be necessary to take into account\ndifferences between article nine-A of this chapter and the general\ncorporation tax, the unincorporated business tax or the banking\ncorporation tax.\n 2. (A) The percentage of the credit allowed to a taxpayer under this\nsubdivision in any calendar year shall be:\n (1) If the average number of individuals employed full-time by a\ntaxpayer in the city during the calendar year in which the credit is\nclaimed is at least one hundred five percent of the taxpayer's base year\nemployment, one hundred percent, except that in no case shall the credit\nallowed under this clause exceed two hundred fifty thousand dollars per\ncalendar year. Provided, however, the increase in base year employment\nshall not apply to a taxpayer allowed a credit under this subdivision\nthat was, (i) located outside of the city, (ii) not doing business, or\n(iii) did not have any employees, in the year preceding the first year\nthat the credit was claimed.\n (2) If the average number of individuals employed full-time by a\ntaxpayer in the city during the calendar year in which the credit is\nclaimed is less than one hundred five percent of the taxpayer's base\nyear employment, fifty percent, except that in no case shall the credit\nallowed under this clause exceed one hundred twenty-five thousand\ndollars per calendar year. In the case of an entity located in the city\nof New York receiving space and business support services by an academic\nincubator facility, as defined in subparagraph (vi) of paragraph (e) of\nsubdivision twelve-G of section two hundred ten of this chapter, if the\naverage number of individuals employed full-time by such facility in the\ncity during the calendar year in which the credit allowed under this\nsubdivision is claimed is less than one hundred five percent of the\ntaxpayer's base year employment, the credit shall be zero.\n (B) For the purposes of this subdivision, "base year employment" means\nthe average number of individuals employed full-time by the taxpayer in\nthe city in the year preceding the first calendar year in which the\ncredit is claimed.\n (C) For the purposes of this subdivision, average number of\nindividuals employed full-time shall be computed by adding the number of\nsuch individuals employed by the taxpayer at the end of each quarter\nduring each calendar year or other applicable period and dividing the\nsum so obtained by the number of such quarters occurring within such\ncalendar year or other applicable period.\n 3. The aggregate amount of tax credits allowed under this subdivision\nin any calendar year shall be up to three million dollars. Such\naggregate amount of credits shall be allocated by the New York city\ndepartment of finance among eligible taxpayers on a pro rata basis.\nTaxpayers eligible for such pro rata allocation shall be determined by\nthe New York city department of finance no later than February\ntwenty-eighth of the succeeding calendar year in which the credit\nprovided in this subdivision is applied.\n 4. The New York city department of finance shall establish by rule by\nOctober thirty-first, two thousand nine, procedures for the allocation\nof tax credits as required by paragraph two of this subdivision. Such\nrules shall include provisions describing the application process, the\ndue dates for such applications, the standards that shall be used to\nevaluate the applications, the documentation that will be provided to\ntaxpayers to substantiate the amount of tax credits allocated to such\ntaxpayers, and such other provisions as deemed necessary and\nappropriate.\n 5. Any local law adopted pursuant to this subdivision may provide for\na credit as authorized by this subdivision for a maximum of three\nconsecutive calendar years, provided, however, that any such credit may\nnot apply to taxable years beginning before January first, two thousand\nten or beginning on or after January first, two thousand nineteen.\n