N.Y.
Economic Development Law Section 484
Application and approval process
1.
A business entity must submit a complete application as prescribed by the commissioner.2.
The commissioner shall establish procedures and a timeframe for business entities to submit applications. As part of the application, each business entity must:(a)
provide evidence in a form and manner prescribed by the commissioner of their business eligibility;(b)
agree to allow the department of taxation and finance to share the business entity’s tax information with the department. However, any information shared as a result of this program shall not be available for disclosure or inspection under the state freedom of information law;(c)
allow the department and its agents access to any and all books and records the department may require to monitor compliance;(d)
certify, under penalty of perjury, that it is in substantial compliance with all emergency orders or public health regulations currently required of such entity, and local, and state tax laws;(e)
certify, under penalty of perjury, that it did not include any cost paid for with other COVID-19 grant funds as determined by the commissioner in its application for a tax credit under the COVID-19 capital costs tax credit program; and(f)
agree to provide any additional information required by the department relevant to this article.3.
After reviewing a business entity’s completed final application and determining that the business entity meets the eligibility criteria as set forth in this article, the department may issue to that business entity a certificate of tax credit.4.
The business entity must submit its application by September thirtieth, two thousand twenty-three.
Source:
Section 484 — Application and approval process, https://www.nysenate.gov/legislation/laws/COM/484 (updated May 12, 2023; accessed Oct. 26, 2024).
