N.Y. Economic Development Law Section 446
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 five million dollars, and shall be allotted from the funds available for tax credits under the excelsior jobs program act pursuant to § 359 (Cap on tax credit)section three hundred fifty-nine of this chapter, provided however, that the portion of this tax credit cap allocated to internship programs in advanced technology shall be not less than two hundred fifty thousand dollars nor more than one million dollars. * NB Repealed December 31, 2028

Source: Section 446 — Cap on tax credit, https://www.­nysenate.­gov/legislation/laws/COM/446 (updated May 16, 2025; accessed Feb. 14, 2026).

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Verified:
Feb. 14, 2026

Last modified:
May 16, 2025

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

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