N.Y. Tax Law § 187-e

§ 187-e. Credit for transportation improvement contributions. * 1.\nAllowance of credit. A taxpayer shall be allowed a credit, to be\ncomputed as provided in section twenty of this chapter, against the\ntaxes imposed by sections one hundred eighty-three, one hundred\neighty-four, one hundred eighty-five and one hundred eighty-six of this\narticle. Provided, however, that the amount of such credit allowable\nagainst the tax imposed by section one hundred eighty-four of this\narticle shall be the excess of the amount of such credit over the amount\nof any credit allowed by this section against the tax imposed by section\none hundred eighty-three of this article.\n * NB Effective until January 1, 2018\n * 1. Allowance of credit. A taxpayer shall be allowed a credit, to be\ncomputed as provided in section twenty of this chapter, against the\ntaxes imposed by sections one hundred eighty-three, one hundred\neighty-four and former section one hundred eighty-six of this article.\nProvided, however, that the amount of such credit allowable against the\ntax imposed by section one hundred eighty-four of this article shall be\nthe excess of the amount of such credit over the amount of any credit\nallowed by this section against the tax imposed by section one hundred\neighty-three of this article.\n * NB Effective January 1, 2018\n * 2. Application of credit. In no event shall the credit under this\nsection be allowed in an amount which will reduce the tax payable to\nless than the applicable minimum tax fixed by section one hundred\neighty-three, one hundred eighty-five or one hundred eighty-six of this\narticle. If, however, the amount of credit allowable under this section\nfor any taxable year reduces the tax to such amount, any amount of\ncredit not thus deductible in such taxable year shall be treated as an\noverpayment of tax to be credited or refunded in accordance with the\nprovisions of section ten hundred eighty-six of this chapter. Provided,\nhowever, the provisions of subsection (c) of section ten hundred\neighty-eight of this chapter notwithstanding, no interest shall be paid\nthereon.\n * NB Effective until January 1, 2018\n * 2. Application of credit. In no event shall the credit under this\nsection be allowed in an amount which will reduce the tax payable to\nless than the applicable minimum tax fixed by section one hundred\neighty-three or former section one hundred eighty-six of this article.\nIf, however, the amount of credit allowable under this section for any\ntaxable year reduces the tax to such amount, any amount of credit not\nthus deductible in such taxable year shall be treated as an overpayment\nof tax to be credited or refunded in accordance with the provisions of\nsection ten hundred eighty-six of this chapter. Provided, however, the\nprovisions of subsection (c) of section ten hundred eighty-eight of this\nchapter notwithstanding, no interest shall be paid thereon.\n * NB Effective January 1, 2018\n 3. Credit recapture. For provisions requiring recapture of credit, see\nsubdivision (c) of section twenty of this chapter.\n