N.Y. Tax Law § 187-c: Biofuel production credit

§ 187-c. Biofuel production credit. A taxpayer shall be allowed a

credit to be computed as provided in section twenty-eight of this

chapter, as added by part X of chapter sixty-two of the laws of two

thousand six, against the tax imposed by this article. Provided,

however, that the amount of such credit allowed against the tax imposed

by section one hundred eighty-four of this article shall be the excess

of the amount of such credit over the amount of any credit allowed by

this section against the tax imposed by section one hundred eighty-three

of this article. In no event shall the credit under this section be

allowed in an amount which will reduce the tax payable to less than the

applicable minimum tax fixed by section one hundred eighty-three of this

article. If, however, the amount of the credit allowed under this

section for any taxable year reduces the tax to such amount, the excess

shall be treated as an overpayment of tax to be credited or refunded in

accordance with the provisions of section six hundred eighty-six of this

chapter. Provided, however, the provisions of subsection (c) of section

one thousand eighty-eight of this chapter notwithstanding, no interest

shall be paid thereon. The tax credit allowed pursuant to this section

shall apply to taxable years beginning before January first, two

thousand twenty.