N.Y. Economic Development Law Section 429
Cap on tax credit

The total amount of tax credits listed on certificates of tax credit issued by the commissioner for any taxable year may not exceed the limitations set forth in § 359 (Cap on tax credit)section three hundred fifty-nine of this chapter, and shall be allotted from the funds available for tax credits under the excelsior jobs program act.

Source: Section 429 — Cap on tax credit, https://www.­nysenate.­gov/legislation/laws/COM/429 (updated Sep. 22, 2014; accessed Jan. 3, 2026).

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Verified:
Jan. 3, 2026

Last modified:
Sep. 22, 2014

§ 429. Cap on tax credit's source at nysenate​.gov

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