* § 187-i. Environmental remediation insurance credit. 1. Allowance of\ncredit. A taxpayer shall be allowed a credit, to be computed as provided\nin section twenty-three of this chapter, against the taxes imposed by\nsections one hundred eighty-three, one hundred eighty-four and one\nhundred eighty-five of this article. Provided, however, that the amount\nof such credit allowable 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 allowable under this section for any taxable year\nreduces the tax to such amount, any amount of credit not deductible in\nsuch taxable year shall be treated as an overpayment of tax to be\nrefunded in accordance with the provisions of section one thousand\neighty-six of this chapter. Provided, however, the provisions of\nsubsection (c) of section one thousand eighty-eight of this chapter\nnotwithstanding, no interest shall be paid thereon.\n * NB Effective until January 1, 2018\n * § 187-i. Environmental remediation insurance credit. 1. Allowance of\ncredit. A taxpayer shall be allowed a credit, to be computed as provided\nin section twenty-three of this chapter, against the taxes imposed by\nsections one hundred eighty-three and one hundred eighty-four 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 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\nallowable under this section for any taxable year reduces the tax to\nsuch amount, any amount of credit not deductible in such taxable year\nshall be treated as an overpayment of tax to be refunded in accordance\nwith the provisions of section one thousand eighty-six of this chapter.\nProvided, however, the provisions of subsection (c) of section one\nthousand eighty-eight of this chapter notwithstanding, no interest shall\nbe paid thereon.\n * NB Effective January 1, 2018\n
§ 187-i. Environmental remediation insurance credit. 1. Allowance of\ncredit. A taxpayer shall be allowed a credit, to be computed as provided\nin section twenty-three of this chapter, against the taxes imposed by\nsections one hundred eighty-three and one hundred eighty-four 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 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\nallowable under this section for any taxable year reduces the tax to\nsuch amount, any amount of credit not deductible in such taxable year\nshall be treated as an overpayment of tax to be refunded in accordance\nwith the provisions of section one thousand eighty-six of this chapter.\nProvided, however, the provisions of subsection (c) of section one\nthousand eighty-eight of this chapter notwithstanding, no interest shall\nbe paid thereon.\n
