Increases the maximum Excelsior Research and Development Tax Credit from six to twenty percent.
This bill amends the economic development law to increase the maximum Excelsior Research and Development Tax Credit from six to twenty percent. This credit applies to research and development expenditures in New York state, with specific provisions for green projects. The bill also allows research and development expenditures to be used as the basis for this credit and the Qualified Emerging Technology Company Facilities, Operations, and Training Credit.
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