N.Y.
Economic Development Law Section 422
Definitions
1.
“Certificate of eligibility” means the document issued by the department to an applicant that has completed an application to be admitted into the empire state jobs retention program and has been accepted into the program by the department. Possession of a certificate of eligibility does not by itself guarantee the eligibility to claim the tax credit.2.
“Certificate of tax credit” means the document issued to a participant by the department, after the department has verified that the participant has met all applicable eligibility criteria in this article. The certificate shall be issued annually if such criteria are satisfied and shall specify the exact amount of each tax credit under this article that a participant may claim, pursuant to § 425 (Empire state jobs retention program credit)section four hundred twenty-five of this article, and shall specify the taxable year in which such credit may be claimed.3.
“Impacted jobs” means jobs at a business enterprise existing the day before an event leading to an emergency declaration by the governor at a location or locations which demonstrate substantial physical damage and economic harm caused by the event for which the emergency declaration was made.4.
“Participant” means a business entity that:(a)
has completed an application prescribed by the department to be admitted into the program;(b)
has been issued a certificate of eligibility by the department;(c)
has demonstrated that it meets the eligibility criteria in section four hundred twenty-three and subdivision two of section four hundred twenty-four of this article; and(d)
has been certified as a participant by the commissioner.5.
“Preliminary schedule of benefits” means the maximum aggregate amount of the tax credit that a participant in the empire state jobs retention program is eligible to receive pursuant to this article. The schedule shall indicate the annual amount of the credit a participant may claim in its six months of eligibility. The preliminary schedule of benefits shall be issued by the department when the department approves the application for admission into the program. The commissioner may amend that schedule, provided that the commissioner complies with the credit caps in § 359 (Cap on tax credit)section three hundred fifty-nine of this chapter.6.
“Related person” means a related person pursuant to subparagraph (c) of paragraph three of subsection (b) of section four hundred sixty-five of the internal revenue code.7.
“Business entity” means a for profit business duly authorized to do business in and in good standing in the state of New York.
Source:
Section 422 — Definitions, https://www.nysenate.gov/legislation/laws/COM/422 (updated May 16, 2025; accessed Jun. 21, 2025).
