N.Y.
Economic Development Law Section 443
Application and approval process
1.
A business entity must submit a completed application in such form and with such information as prescribed by the commissioner.2.
As part of such application, each business entity must:(a)
provide such documentation as the commissioner may require in order for the commissioner to determine that the business entity intends to conduct eligible training or procure eligible training for its employees from an approved provider;(b)
agree to allow the department of taxation and finance to share its tax information with the department. However, any information shared as a result of this agreement shall not be available for disclosure or inspection under the state freedom of information law;(c)
agree to allow the department of labor to share its tax and employer information with the department. However, any information shared as a result of this agreement shall not be available for disclosure or inspection under the state freedom of information law;(d)
allow the department and its agents access to any and all books and records the department may require to monitor compliance;(e)
provide a clear and detailed presentation of all related persons to the applicant to assure the department that jobs are not being shifted within the state; and(f)
certify, under penalty of perjury, that it is in substantial compliance with all environmental, worker protection, and local, state, and federal tax laws.3.
The commissioner may approve an application from a business entity upon determining that such business entity meets the eligibility criteria established in § 442 (Eligibility criteria)section four hundred forty-two of this article. Following approval by the commissioner of an application by a business entity to participate in the employee training incentive program, the commissioner shall issue a certificate of tax credit to the business entity upon its demonstrating successful completion of such eligible training to the satisfaction of the commissioner. For eligible training as defined by paragraph (a) of subdivision three of § 441 (Definitions)section four hundred forty-one of this article the amount of the credit shall be equal to fifty percent of eligible training costs, up to a credit of ten thousand dollars per employee receiving eligible training. For eligible training as defined by paragraph (b) of subdivision three of § 441 (Definitions)section four hundred forty-one of this article, the amount of the credit shall be equal to fifty percent of the stipend paid to an intern, up to a credit of three thousand dollars per intern. The tax credits shall be claimed by the qualified employer as specified in subdivision fifty of section two hundred ten-B and subsection (ddd) of Tax Law § 606 (Credits against tax)section six hundred six of the tax law.
Source:
Section 443 — Application and approval process, https://www.nysenate.gov/legislation/laws/COM/443 (updated Apr. 19, 2019; accessed May 4, 2024).
