S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7462
                                   I N  S E N A T E
                                     May 22, 2012
                                      ___________
       Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
         printed to be committed to the Committee on Investigations and Govern-
         ment Operations
       AN ACT to amend the tax law, in relation to extending the  authorization
         for  any  city having a population of one million or more to provide a
         biotechnology credit against the general corporation  tax,  unincorpo-
         rated business tax, and banking corporation tax of such city
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph 5 of subdivision d of section 1201-a of  the  tax
    2  law,  as added by chapter 453 of the laws of 2009, is amended to read as
    3  follows:
    4    5. Any local law adopted pursuant to this subdivision may provide  for
    5  a  credit  as  authorized  by  this  subdivision  for a maximum of three
    6  consecutive calendar years, provided, however, that any such credit  may
    7  not  apply to taxable years beginning before January first, two thousand
    8  ten or beginning on or after  January  first,  two  thousand  [thirteen]
    9  SIXTEEN.
   10    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15867-01-2