N.Y. Economic Development Law § 426: Powers and duties of the commissioner

§ 426. Powers and duties of the commissioner. 1. The commissioner

shall promulgate regulations establishing the type of application

process and the eligibility criteria, that will be applied consistent

with the purposes of this article, so as not to exceed thirty million

dollars from the annual cap on tax credits set forth in section three

hundred fifty-nine of this chapter which, notwithstanding any provisions

to the contrary in the state administrative procedure act, may be

adopted on an emergency basis. Such regulations shall include, but not

be limited to, criteria for determining whether a business entity

demonstrates substantial physical damage and economic harm from the

event leading to an emergency declaration by the governor.

2. The commissioner shall, in consultation with the department of

taxation and finance, develop a certificate of tax credit that shall be

issued by the commissioner to participants. Participants may be required

by the commissioner of taxation and finance to include the certificate

of tax credit with their tax return to receive any tax benefits under

this article.

3. The commissioner shall solely determine the eligibility of any

applicant applying for entry into the program and shall remove any

participant from the program for failing to meet any of the requirements

set forth in subdivision two of section four hundred twenty-four of this

article, or for failing to meet the job retention requirements set forth

in section four hundred twenty-three of this article.