* § 187-h. Remediated brownfield credit for real property taxes for\nqualified sites. 1. Allowance of credit. A taxpayer shall be allowed a\ncredit, to be computed as provided in subdivision (b) of section\ntwenty-two of this chapter, against the taxes imposed by sections one\nhundred eighty-three, one hundred eighty-four and one hundred\neighty-five of this article. Provided, however, that the amount of such\ncredit allowed against the tax imposed by section one hundred\neighty-four of this article shall be the excess of the amount of such\ncredit over the amount of any credit allowed by this section against the\ntax imposed by section one hundred eighty-three of this article.\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 one hundred eighty-five of this article. If, however,\nthe amount of credit allowed under this section for any taxable year\nreduces the tax to such amount, any amount of credit not thus deductible\nin such taxable year shall be treated as an overpayment of tax to be\ncredited or refunded in accordance with the provisions of section ten\nhundred eighty-six of this chapter. Provided, however, the provisions of\nsubsection (c) of section ten hundred eighty-eight of this chapter\nnotwithstanding, no interest shall be paid thereon.\n * NB Effective until January 1, 2018\n * § 187-h. Remediated brownfield credit for real property taxes for\nqualified sites. 1. Allowance of credit. A taxpayer shall be allowed a\ncredit, to be computed as provided in subdivision (b) of section\ntwenty-two of this chapter, against the taxes imposed by sections one\nhundred eighty-three and one hundred eighty-four of this article.\nProvided, however, that the amount of such credit allowed 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 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 of this article. If, however, the amount of credit allowed\nunder this section for any taxable year reduces the tax to such amount,\nany amount of credit not thus deductible in such taxable year shall be\ntreated as an overpayment of tax to be credited or refunded in\naccordance with the provisions of section ten hundred eighty-six of this\nchapter. Provided, however, the provisions of subsection (c) of section\nten hundred eighty-eight of this chapter notwithstanding, no interest\nshall be paid thereon.\n * NB Effective January 1, 2018\n
§ 187-h. Remediated brownfield credit for real property taxes for\nqualified sites. 1. Allowance of credit. A taxpayer shall be allowed a\ncredit, to be computed as provided in subdivision (b) of section\ntwenty-two of this chapter, against the taxes imposed by sections one\nhundred eighty-three and one hundred eighty-four of this article.\nProvided, however, that the amount of such credit allowed 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 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 of this article. If, however, the amount of credit allowed\nunder this section for any taxable year reduces the tax to such amount,\nany amount of credit not thus deductible in such taxable year shall be\ntreated as an overpayment of tax to be credited or refunded in\naccordance with the provisions of section ten hundred eighty-six of this\nchapter. Provided, however, the provisions of subsection (c) of section\nten hundred eighty-eight of this chapter notwithstanding, no interest\nshall be paid thereon.\n
