N.Y. Economic Development Law Section 506
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 twenty 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.

Source: Section 506 — Cap on tax credit, https://www.­nysenate.­gov/legislation/laws/COM/506 (updated May 16, 2025; accessed Aug. 9, 2025).

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Aug. 9, 2025

Last modified:
May 16, 2025

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

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