N.Y. Economic Development Law Law 443 – Application and approval process
§ 443. Application and approval process. 1. A business entity must submit a completed application in such form and with such information as prescribed by the commissioner.
Terms Used In N.Y. Economic Development Law Law 443
- Approved provider: means an entity meeting such criteria as shall be established by the commissioner in rules and regulations promulgated pursuant to this article, that may provide eligible training to employees of a business entity participating in the employee training incentive program; provided that, for internship programs, the business entity shall be an approved provider or an approved provider in contract with such business entity. See N.Y. Economic Development Law Law 441
- Commissioner: means the commissioner of economic development. See N.Y. Economic Development Law Law 441
- Eligible training: means (a) training provided by the business entity or an approved provider that is:
(i) to upgrade, retrain or improve the productivity of employees;
(ii) provided to employees in connection with a significant capital investment by a participating business entity;
(iii) determined by the commissioner to satisfy a business need on the part of a participating business entity;
(iv) not designed to train or upgrade skills as required by a federal or state entity;
(v) not training the completion of which may result in the awarding of a license or certificate required by law in order to perform a job function; and
(vi) not culturally focused training; or
(b) an internship program in advanced technology, life sciences, software development or clean energy approved by the commissioner and provided by the business entity or an approved provider, on or after August first, two thousand fifteen, to provide employment and experience opportunities for current students, recent graduates, and recent members of the armed forces. See N.Y. Economic Development Law Law 441
2. As part of such application, each business entity must:
(a) provide such documentation as the commissioner may require in order for the commissioner to determine that the business entity intends to conduct eligible training or procure eligible training for its employees from an approved provider;
(b) agree to allow the department of taxation and finance to share its tax information with the department. However, any information shared as a result of this agreement shall not be available for disclosure or inspection under the state freedom of information law;
(c) agree to allow the department of labor to share its tax and employer information with the department. However, any information shared as a result of this agreement shall not be available for disclosure or inspection under the state freedom of information law;
(d) allow the department and its agents access to any and all books and records the department may require to monitor compliance;
(e) provide a clear and detailed presentation of all related persons to the applicant to assure the department that jobs are not being shifted within the state; and
(f) certify, under penalty of perjury, that it is in substantial compliance with all environmental, worker protection, and local, state, and federal tax laws.
3. The commissioner may approve an application from a business entity upon determining that such business entity meets the eligibility criteria established in section four hundred forty-two of this article. Following approval by the commissioner of an application by a business entity to participate in the employee training incentive program, the commissioner shall issue a certificate of tax credit to the business entity upon its demonstrating successful completion of such eligible training to the satisfaction of the commissioner. For eligible training as defined by paragraph (a) of subdivision three of section four hundred forty-one of this article the amount of the credit shall be equal to fifty percent of eligible training costs, up to a credit of ten thousand dollars per employee receiving eligible training. For eligible training as defined by paragraph (b) of subdivision three of section four hundred forty-one of this article, the amount of the credit shall be equal to fifty percent of the stipend paid to an intern, up to a credit of three thousand dollars per intern. The tax credits shall be claimed by the qualified employer as specified in subdivision fifty of section two hundred ten-B and subsection (ddd) of § 606 of the tax law.