N.Y. Economic Development Law § 359-g: Semiconductor research and development tax credit

§ 359-g. Semiconductor research and development tax credit. 1. A

participant in the semiconductor research and development project

program shall be eligible to claim a credit on qualified investments in

semiconductor research and development projects in New York state. The

amount of such credit shall be equal to fifteen percent of the cost or

other basis for federal income tax purposes of the qualified investment.

2. The total amount of tax credits listed on certificates of tax

credit issued by the commissioner shall be allotted from the funds

available for Green CHIPS tax credits as provided under subdivision four

of section three hundred fifty-nine of this chapter.