N.Y. Economic Development Law Section 359-F
Powers and duties of the commissioner

1.

The commissioner may promulgate regulations establishing an application process and eligibility criteria, that will be applied consistent with the purposes of this article, so as not to exceed the annual cap on tax credits set forth in § 359-G (Semiconductor research and development tax credit)section three hundred fifty-nine-g of this article which, notwithstanding any provisions to the contrary in the state administrative procedure act, may be adopted on an emergency basis.

2.

The commissioner shall, in consultation with the department of taxation and finance, develop a certificate of tax credit that shall be issued by the commissioner to participants. Participants must include the certificate of tax credit with their tax return to receive any tax benefits under this article.

3.

The commissioner shall solely determine the eligibility of any applicant applying for entry into the program and shall remove any participant from the program for failing to meet any of the requirements set forth in subdivision six of § 359-C (Definitions)section three hundred fifty-nine-c of this article and § 359-D (Eligibility criteria)section three hundred fifty-nine-d of this article.

Source: Section 359-F — Powers and duties of the commissioner, https://www.­nysenate.­gov/legislation/laws/COM/359-F (updated May 16, 2025; accessed May 24, 2025).

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Accessed:
May 24, 2025

Last modified:
May 16, 2025

§ 359-F’s source at nysenate​.gov

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