N.Y. Economic Development Law § 443: Application and approval process

* § 443. Application and approval process. 1. A business entity must

submit a completed application in such form and with such information as

prescribed by the commissioner.

2. As part of such application, each business entity must:

(a) provide such documentation as the commissioner may require in

order for the commissioner to determine that the business entity intends

to conduct eligible training or procure eligible training for its

employees from an approved provider;

(b) agree to allow the department of taxation and finance to share its

tax information with the department. However, any information shared as

a result of this agreement shall not be available for disclosure or

inspection under the state freedom of information law;

(c) agree to allow the department of labor to share its tax and

employer information with the department. However, any information

shared as a result of this agreement shall not be available for

disclosure or inspection under the state freedom of information law;

(d) allow the department and its agents access to any and all books

and records the department may require to monitor compliance;

(e) provide a clear and detailed presentation of all related persons

to the applicant to assure the department that jobs are not being

shifted within the state; and

(f) certify, under penalty of perjury, that it is in substantial

compliance with all environmental, worker protection, and local, state,

and federal tax laws.

3. The commissioner may approve an application from a business entity

upon determining that such business entity meets the eligibility

criteria established in section four hundred forty-two of this article.

Following approval by the commissioner of an application by a business

entity to participate in the employee training incentive program, the

commissioner shall issue a certificate of tax credit to the business

entity upon its demonstrating successful completion of such eligible

training to the satisfaction of the commissioner. For eligible training

as defined by paragraph (a) of subdivision three of section four hundred

forty-one of this article the amount of the credit shall be equal to

fifty percent of eligible training costs, up to a credit of ten thousand

dollars per employee receiving eligible training. For eligible training

as defined by paragraph (b) of subdivision three of section four hundred

forty-one of this article, the amount of the credit shall be equal to

fifty percent of the stipend paid to an intern, up to a credit of three

thousand dollars per intern. The tax credits shall be claimed by the

qualified employer as specified in subdivision fifty of section two

hundred ten-B and subsection (ddd) of section six hundred six of the tax

law.

* NB Repealed December 31, 2028