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 Jul. 12, 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

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Verified:
Jul. 12, 2025

Last modified:
Apr. 22, 2022

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

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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 Jul. 12, 2025).

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

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