New York Codes, Rules and Regulations
Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT
Chapter XIX - Excelsior Jobs Program
Part 193 - Calculation of the tax credits
Section 193.3 - Excelsior Jobs Program rates for gas or electric service

Universal Citation: 5 NY Comp Codes Rules and Regs ยง 193.3

Current through Register Vol. 46, No. 12, March 20, 2024

(a) Special Excelsior Jobs Program rates for gas or electric service, as further described in subdivision 12-d of section 66 of the Public Service Law, may remain available to participants as defined in this article for a period of up to 10 years commencing in the first taxable year that the participant receives a certificate of tax credit, or the first taxable year listed on its preliminary schedule of benefits, whichever is later. Provided however, if a participant is removed from the Excelsior Jobs Program pursuant to this article, the Excelsior Jobs Program rates may be denied. Notwithstanding any other provision of this section, in the event a Green CHIPS project enters into a phase two, such special excelsior job program rate shall be available to such project for its second ten-year schedule of benefits.

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