N.Y. Social Services Law § 394-d: Child care creation and expansion tax credit

§ 394-d. Child care creation and expansion tax credit. 1. A business

entity in the child care creation and expansion tax credit program that

meets the eligibility requirements of section three hundred

ninety-four-b of this title may be eligible to claim a credit for the

portion of the service year in which the child care program was in

operation, equal to the sum of: (a) the product of the number of infant

child care seats that have been created or expanded and twenty percent

of the child care rate for such infant child care seats and (b) the

product of the number of toddler child care seats that have been created

or expanded and twenty percent of the child care rate for such toddler

child care seats; provided that such infant and toddler child care seats

are child care seats that are occupied. Notwithstanding the preceding

sentence, a credit shall not be allowed for more than twenty-five child

care seats that are occupied, and the amount of such credit may be

reduced as a result of an allocation of available funds, as described in

section three hundred ninety-four-e of this title.

2. The credit shall be allowed as provided in section forty-eight,

subdivision fifty-nine of section two hundred ten-B, subsection (ooo) of

section six hundred six and subdivision (ee) of section fifteen hundred

eleven of the tax law.