New York § 496 Powers and duties of the commissioner

New York Statutes

§ 496 — Powers and duties of the commissioner

New York § 496

Law COMEconomic Development Law

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N.Y. Economic Development Law § 496 (2026).

Text

§ 496. Powers and duties of the commissioner.

1.The commissioner\nshall promulgate regulations establishing an application process and\neligibility criteria, that will be applied consistent with the purposes\nof this article, so as not to exceed the annual cap on tax credits set\nforth in section four hundred ninety-five of this article which,\nnotwithstanding any provisions to the contrary in the state\nadministrative procedure act, may be adopted on an emergency basis.\n 2. The commissioner shall, in consultation with the department of\ntaxation and finance, develop a certificate of tax credit that shall be\nissued by the commissioner to eligible businesses. Such certificate\nshall contain such information as required by the department of taxation\nand finance.\n 3. The commissioner

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§ 496. Powers and duties of the commissioner. 1. The commissioner\nshall promulgate regulations establishing an application process and\neligibility criteria, that will be applied consistent with the purposes\nof this article, so as not to exceed the annual cap on tax credits set\nforth in section four hundred ninety-five of this article which,\nnotwithstanding any provisions to the contrary in the state\nadministrative procedure act, may be adopted on an emergency basis.\n 2. The commissioner shall, in consultation with the department of\ntaxation and finance, develop a certificate of tax credit that shall be\nissued by the commissioner to eligible businesses. Such certificate\nshall contain such information as required by the department of taxation\nand finance.\n 3. The commissioner shall solely determine the eligibility of any\napplicant applying for entry into the program and shall remove any\nbusiness entity from the program for failing to meet any of the\nrequirements set forth in section four hundred ninety-three of this\narticle, or for failing to meet the requirements set forth in\nsubdivision one of section four hundred ninety-four of this article.\n