Relates to the excelsior research and development tax credit

Summary

The bill adds an Excelsior research and development tax credit for companies in the Excelsior jobs program. The credit equals half of the portion of the company’s federal R&D credit that relates to New York‑based R&D spending, but cannot exceed set percentages that differ for green, Green CHIPS, or semiconductor supply‑chain projects. It applies immediately to qualifying R&D costs, including related wages.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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