Establishes the New York rural growth fund tax credit and the New York rural growth fund.

The bill establishes the New York rural growth fund tax credit and the New York rural growth fund. It allows individuals who develop a business plan to invest in rural business in New York and have successfully solicited private investors to make capital contributions in support of such business plan to apply to the department of economic development for certification as a rural business growth fund. If approved, tax credits shall be issued in an aggregate amount equal to seventy percent of the eligible investment authority.

Establishes the New York rural growth fund tax credit and the New York rural growth fund.

The bill establishes the New York rural growth fund tax credit and the New York rural growth fund. It allows individuals who develop a business plan to invest in rural business in New York and have successfully solicited private investors to make capital contributions in support of such business plan to apply to the department of economic development for certification as a rural business growth fund. If approved, tax credits shall be issued in an aggregate amount equal to seventy percent of the eligible investment authority.