N.Y. Economic Development Law Section 489
Cap on tax credit

The total amount of tax credits listed on certificates of tax credit issued by the commissioner pursuant to this article may not exceed two hundred fifty million dollars.

Source: Section 489 — Cap on tax credit, https://www.nysenate.gov/legislation/laws/COM/489 (updated Apr. 22, 2022; accessed Nov. 22, 2025).

480
Short title 481
Statement of legislative findings and declaration 482
Definitions 483
Eligibility criteria 484
Application and approval process 485
COVID-19 capital costs tax credit 486
Powers and duties of the commissioner 487
Maintenance of records 488
Reporting 489
Cap on tax credit

Up to date

Verified:
Nov. 22, 2025

Last modified:
Apr. 22, 2022

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

Link Style

Stay Connected

Join thousands of people who receive monthly site updates.

Get Legal Help

The New York State Bar Association runs a service for finding an attorney in good standing. Initial consultations are usually free or discounted: Lawyer Referral Service

Committed to Public Service

We will always provide free access to the current law. In addition, we provide special support for non-profit, educational, and government users. Through social entrepreneurship, we’re lowering the cost of legal services and increasing citizen access.

Navigate

California:	Codes
Colorado:	C.R.S.
Florida:	Statutes
Nevada:	NRS
New York:	Laws
Oregon:	OAR, ORS
Texas:	Statutes
World:	Rome Statute, International Dictionary

Location: https://newyork.public.law/laws/n.y._economic_development_law_section_489

Original Source: Section 489 — Cap on tax credit, https://www.nysenate.gov/legislation/laws/COM/489 (last accessed Nov. 22, 2025).

N.Y. Economic Development Law Section 489 Cap on tax credit

N.Y. Economic Development Law Section 489
Cap on tax credit