S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5332
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 8, 2019
                                ___________
 
 Introduced  by  M. of A. KOLB -- read once and referred to the Committee
   on Economic Development
 
 AN ACT to amend the economic development law, in relation to  establish-
   ing  an  incentive program for manufacturers that maintain or increase
   employment; and to amend the tax law, in relation to establishing wage
   tax credit incentives for manufacturing firms enrolled in the  program
   (Part A); and to amend the tax law, in relation to increasing the real
   property tax credit for manufacturers (Part B)
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Short title. This act shall be known and may  be  cited  as
 the "manufacturing preservation and enhancement act".
   § 2. Legislative findings and intent. The legislature finds and deter-
 mines  that  historically,  manufacturing firms have helped to build our
 state. Today, manufacturing jobs are an essential part  of  the  state's
 economy. Accordingly, the state should offer programs that foster growth
 in  this  important  sector  of  the  state economy. The purpose of this
 legislation is to establish a tax incentive program that  would  provide
 tax  credits to manufacturing firms that create new jobs in the manufac-
 turing sector over a specified period of time.
   § 3. This act enacts into law major components of legislation  provid-
 ing  for  the creation of the manufacturing preservation and enhancement
 act and increasing the real property tax credit for manufacturers.  Each
 component is wholly contained within a Part identified as Parts A and B.
 The  effective  date for each particular provision contained within such
 Part is set forth in the last section of such Part. Any provision in any
 section contained with a Part, including the effective date of the Part,
 which makes  reference  to  a  section  "of  this  act",  when  used  in
 connection  with  that particular component, shall be deemed to mean and
 refer to the corresponding section of the Part in  which  it  is  found.
 Section  five  of this act sets forth the general effective date of this
 act.
 
                                  PART A
              

 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06096-01-9

 A. 5332                             2
 
   Section 1.  The economic development law is amended by  adding  a  new
 article 15 to read as follows:
                                ARTICLE 15
              MANUFACTURING PRESERVATION AND ENHANCEMENT ACT
 SECTION 270. DEFINITIONS.
         271. MANUFACTURING PRESERVATION AND ENHANCEMENT PROGRAM.
         272. SPECIAL PROVISIONS RELATING TO CERTIFIED MANUFACTURERS.
         273. REPORTING.
   §  270.  DEFINITIONS. AS USED IN THIS ARTICLE, THE FOLLOWING WORDS AND
 TERMS SHALL HAVE THE FOLLOWING MEANINGS UNLESS THE CONTENT  SHALL  INDI-
 CATE ANOTHER OR DIFFERENT MEANING OR INTENT:
   1. "PROGRAM" SHALL MEAN THE MANUFACTURING PRESERVATION AND ENHANCEMENT
 PROGRAM ESTABLISHED PURSUANT TO THIS ARTICLE.
   2.  "MANUFACTURING FIRM" SHALL MEAN AN ENTERPRISE, INCLUDING CORPORATE
 ENTITIES, PARTNERSHIPS AND SOLE PROPRIETORS, ENGAGED IN THE BUSINESS  OF
 PRODUCTION OF GOODS AND PRODUCTS FROM RAW MATERIALS.
   3.  "BENCHMARK"  SHALL  MEAN  A  SPECIFIC  NUMBER OF ELIGIBLE NEW JOBS
 CREATED IN THE STATE PURSUANT TO THE PROGRAM.
   4. "MEI" SHALL MEAN THE MANUFACTURING ENHANCEMENT INCENTIVE PROGRAM.
   § 271. MANUFACTURING PRESERVATION AND ENHANCEMENT PROGRAM.   1.  THERE
 IS  HEREBY  CREATED A MANUFACTURING PRESERVATION AND ENHANCEMENT PROGRAM
 WITHIN THE DEPARTMENT TO PROVIDE TECHNICAL AND FINANCIAL  ASSISTANCE  IN
 THE  FORM  OF  TAX INCENTIVES TO MANUFACTURING FIRMS THAT MEET SPECIFIED
 BENCHMARKS IN JOB CREATION AS ESTABLISHED BY THE COMMISSIONER.
   2. THE  COMMISSIONER  SHALL  DETERMINE  ELIGIBILITY  REQUIREMENTS  FOR
 PARTICIPATION  IN THE PROGRAM, PROVIDED, HOWEVER, THAT SUCH REQUIREMENTS
 SHALL INCLUDE THE FOLLOWING:
   (A) AN APPLICANT TO THE PROGRAM MAY NOT PARTICIPATE IN THE PROGRAM  IF
 DESIGNATED  AS  A  CERTIFIED  BUSINESS LOCATED IN AN EMPIRE ZONE CREATED
 PURSUANT TO ARTICLE EIGHTEEN-B OF THE GENERAL MUNICIPAL LAW; AND
   (B) AN APPLICANT THAT HAS PREVIOUSLY PARTICIPATED IN THE  PROGRAM  MAY
 NOT REAPPLY FOR PARTICIPATION IN THE PROGRAM UNLESS IT CAN DOCUMENT THAT
 AT  THE TIME OF ITS REAPPLICATION FOR PARTICIPATION, IT HAS MAINTAINED A
 LEVEL OF EMPLOYMENT AT LEAST AS GREAT  AS  THE  HIGHEST  LEVEL  REQUIRED
 DURING ITS PREVIOUS PARTICIPATION IN THE PROGRAM.
   3.  APPLICATIONS  FOR  PARTICIPATION  IN THE MEI SHALL BE SUBMITTED BY
 EACH MANUFACTURING FIRM SEEKING TO PARTICIPATE IN THE PROGRAM, AND SHALL
 BE IN THE FORM AND CONTAIN SUCH  INFORMATION,  EXHIBITS  AND  SUPPORTING
 DATA  AS  THE  COMMISSIONER  MAY  PRESCRIBE. NO APPLICATIONS FOR PARTIC-
 IPATION SHALL BE ACCEPTED  AFTER  DECEMBER  THIRTY-FIRST,  TWO  THOUSAND
 TWENTY-SEVEN.
   4.  MANUFACTURING  FIRMS  INTERESTED IN PARTICIPATING IN THE MEI SHALL
 SUBMIT AN APPLICATION TO THE PROGRAM. THE COMMISSIONER SHALL REVIEW  ALL
 APPLICATIONS  FOR PARTICIPATION IN THE PROGRAM FOR ELIGIBILITY AND SHALL
 REGISTER ELIGIBLE APPLICANTS. THE COMMISSIONER SHALL PROVIDE EACH REGIS-
 TERED APPLICANT WITH BENCHMARKS IN JOB CREATION THAT MUST BE ACHIEVED BY
 THE REGISTERED APPLICANT OVER THE FOLLOWING ONE  YEAR.  SUCH  BENCHMARKS
 SHALL BE CONSISTENT WITH REGULATIONS TO BE PRESCRIBED BY THE COMMISSION-
 ER. ANNUALLY, EACH REGISTERED APPLICANT SHALL SUBMIT TO THE COMMISSIONER
 A  REGISTRATION  STATEMENT, TOGETHER WITH SUCH INFORMATION, EXHIBITS AND
 SUPPORTING DATA AS THE COMMISSIONER MAY REQUIRE. UPON SUBMISSION OF  THE
 SECOND  ANNUAL REGISTRATION STATEMENT, THE COMMISSIONER SHALL REVIEW THE
 REGISTERED APPLICANT'S FILE FOR ELIGIBILITY FOR THE TAX  INCENTIVES.  IF
 THE  REGISTERED  APPLICANT  HAS  MET  THE  REQUIRED  BENCHMARKS  IN  JOB
 CREATION, THE COMMISSIONER SHALL PROVIDE A CERTIFICATE,  VALID  FOR  THE
 SUCCEEDING  FIVE  TAX YEARS, CERTIFYING THAT THE REGISTERED APPLICANT IS

 A. 5332                             3
 
 ELIGIBLE FOR TAX CREDITS PURSUANT TO THIS ARTICLE. THE  MEI  CERTIFICATE
 SHALL  INCLUDE  A  DESCRIPTION OF THE PROPERTY ELIGIBLE FOR THE PROPERTY
 TAX BENEFIT AND SHALL SPECIFY THE EMPLOYMENT LEVEL AND TOTAL  AMOUNT  OF
 EMPLOYEE GROSS SALARY ELIGIBLE FOR THE WAGE CREDIT.
   §  272. SPECIAL PROVISIONS RELATING TO CERTIFIED MANUFACTURERS. DURING
 THE FIVE-YEAR CERTIFICATION PERIOD, CERTIFIED MANUFACTURING FIRMS  SHALL
 BE ELIGIBLE TO RECEIVE THE FOLLOWING TAX CREDITS:
   1.    AN  MEI  WAGE  TAX  CREDIT,  WHICH SHALL BE COMPUTED PURSUANT TO
 SECTION EIGHT HUNDRED SIXTY-ONE OF THE TAX LAW; AND
   2. AN MEI ENERGY TAX CREDIT,  WHICH  SHALL  BE  COMPUTED  PURSUANT  TO
 SECTION EIGHT HUNDRED SIXTY-TWO OF THE TAX LAW.
   §  273.  REPORTING.  THE  COMMISSIONER  SHALL,  ON OR BEFORE SEPTEMBER
 FIRST, TWO THOUSAND TWENTY, AND ANNUALLY THEREAFTER, SUBMIT A REPORT  TO
 THE  GOVERNOR, THE TEMPORARY PRESIDENT OF THE SENATE, THE SPEAKER OF THE
 ASSEMBLY, THE MINORITY LEADER OF THE SENATE AND THE MINORITY  LEADER  OF
 THE  ASSEMBLY  ON  THE  OPERATION  AND  ACCOMPLISHMENTS  OF  THE PROGRAM
 PROVIDED FOR PURSUANT TO THIS ARTICLE.
   § 2. The tax law is amended by adding a new article 24-A  to  read  as
 follows:
                               ARTICLE 24-A
              MANUFACTURING PRESERVATION AND ENHANCEMENT ACT
 SECTION 861. MEI WAGE TAX CREDIT.
         862. MEI ENERGY TAX CREDIT.
   §  861.  MEI  WAGE  TAX  CREDIT.  (A)  ALLOWANCE OF CREDIT. A TAXPAYER
 RECEIVING AN MEI CERTIFICATE THAT HAS BEEN ISSUED  PURSUANT  TO  ARTICLE
 FIFTEEN  OF  THE ECONOMIC DEVELOPMENT LAW, AND THAT OR WHO IS SUBJECT TO
 TAXES UNDER ARTICLE NINE-A OR ARTICLE TWENTY-TWO OF THIS CHAPTER,  SHALL
 BE  ALLOWED  A CREDIT AGAINST THE TAXES ASSESSED UNDER ARTICLE NINE-A OR
 ARTICLE TWENTY-TWO OF THIS CHAPTER DURING THE TAX YEARS THAT THE CERTIF-
 ICATE IS VALID. THE CREDIT SHALL BE COMPUTED PURSUANT TO THE  PROVISIONS
 OF SUBSECTION (C) OF THIS SECTION.
   (B) DEFINITIONS. THE TERM "ELIGIBLE WAGES" SHALL MEAN THE TOTAL AMOUNT
 OF  EMPLOYEE  GROSS  SALARY  ELIGIBLE  FOR  THE WAGE TAX CREDIT, AS SUCH
 AMOUNT IS SPECIFIED IN THE MEI CERTIFICATE ISSUED  PURSUANT  TO  ARTICLE
 FIFTEEN OF THE ECONOMIC DEVELOPMENT LAW.
   (C)  COMPUTATION  OF WAGE TAX CREDIT. (1) DURING THE FIRST TAX YEAR OF
 THE FIVE-YEAR PERIOD FOR WHICH A VALID MEI CERTIFICATE HAS  BEEN  ISSUED
 PURSUANT  TO  ARTICLE  FIFTEEN OF THE ECONOMIC DEVELOPMENT LAW, PROVIDED
 THE TAXPAYER HAS MAINTAINED THE EMPLOYMENT AND  ELIGIBLE  WAGE  REQUIRE-
 MENTS SPECIFIED BY THE MEI AS DEFINED IN ARTICLE FIFTEEN OF THE ECONOMIC
 DEVELOPMENT  LAW, THE TAXPAYER SHALL BE ALLOWED A CREDIT OF ONE AND ONE-
 HALF PERCENT OF THE TOTAL AMOUNT OF THE ELIGIBLE WAGES ACTUALLY PAID  BY
 THE TAXPAYER. IF THE TAXPAYER INCREASES EMPLOYMENT DURING THIS TAX YEAR,
 AND  EXCEEDS  THE  LEVEL OF EMPLOYMENT REQUIRED BY THE MEI AS DEFINED IN
 ARTICLE FIFTEEN OF THE ECONOMIC DEVELOPMENT LAW, HIRING AND  MAINTAINING
 ADDITIONAL  EMPLOYEES  AND  PAYING  ADDITIONAL  WAGES OVER AND ABOVE THE
 ELIGIBLE WAGES AMOUNT, THE TAXPAYER SHALL BE ALLOWED AN ADDITIONAL CRED-
 IT OF TWO AND ONE-HALF PERCENT OF THE TOTAL AMOUNT BY  WHICH  THE  WAGES
 ACTUALLY  PAID  AS  A RESULT OF THE INCREASED LEVEL OF EMPLOYMENT EXCEED
 THE ELIGIBLE WAGES.
   (2) DURING THE SECOND TAX YEAR OF THE FIVE-YEAR  PERIOD  FOR  WHICH  A
 VALID MEI CERTIFICATE HAS BEEN ISSUED PURSUANT TO ARTICLE FIFTEEN OF THE
 ECONOMIC  DEVELOPMENT  LAW,  PROVIDED  THE  TAXPAYER  HAS MAINTAINED THE
 EMPLOYMENT AND ELIGIBLE  WAGE  REQUIREMENTS  SPECIFIED  BY  THE  MEI  AS
 DEFINED IN ARTICLE FIFTEEN OF THE ECONOMIC DEVELOPMENT LAW, THE TAXPAYER
 SHALL  BE  ALLOWED  A  CREDIT  OF  ONE AND ONE-HALF PERCENT OF THE TOTAL

 A. 5332                             4
 
 AMOUNT OF THE ELIGIBLE WAGES ACTUALLY PAID BY THE TAXPAYER; HOWEVER,  IF
 THE  TAXPAYER INCREASED EMPLOYMENT IN THE PRECEDING TAX YEAR AND CLAIMED
 THE TWO AND ONE-HALF PERCENT CREDIT FOR EMPLOYMENT AND PAYMENT OF  WAGES
 IN  EXCESS  OF  THE  MEI REQUIREMENTS PURSUANT TO ARTICLE FIFTEEN OF THE
 ECONOMIC DEVELOPMENT LAW, THE TAXPAYER SHALL BE ALLOWED A CREDIT OF  ONE
 AND  ONE-HALF PERCENT OF THE TOTAL AMOUNT OF THE ELIGIBLE WAGES ACTUALLY
 PAID BY THE TAXPAYER DURING THE PRECEDING TAX YEAR, PROVIDED THE TAXPAY-
 ER HAS MAINTAINED THE INCREASED EMPLOYMENT AND  SALARY  LEVELS.  IF  THE
 TAXPAYER  AGAIN  INCREASES EMPLOYMENT, HIRING AND MAINTAINING ADDITIONAL
 EMPLOYEES AND PAYING ADDITIONAL WAGES OVER AND ABOVE  THE  PREVIOUS  TAX
 YEAR'S AMOUNT, THE TAXPAYER SHALL BE ALLOWED AN ADDITIONAL CREDIT OF TWO
 AND  ONE-HALF  PERCENT  OF  THE TOTAL AMOUNT BY WHICH THE WAGES ACTUALLY
 PAID AS A RESULT OF THE INCREASED LEVEL OF EMPLOYMENT EXCEED  THE  WAGES
 SUBJECT TO THE ONE AND ONE-HALF PERCENT CREDIT.
   §  862.  MEI  ENERGY  TAX CREDIT. (A) ALLOWANCE OF CREDIT.  A TAXPAYER
 RECEIVING AN MEI CERTIFICATE HAS BEEN ISSUED PURSUANT TO ARTICLE FIFTEEN
 OF THE ECONOMIC DEVELOPMENT LAW, AND THAT OR WHO  IS  SUBJECT  TO  TAXES
 UNDER  ARTICLE  NINE-A  OR  ARTICLE TWENTY-TWO OF THIS CHAPTER, SHALL BE
 ALLOWED A CREDIT AGAINST THE TAXES  ASSESSED  UNDER  ARTICLE  NINE-A  OR
 ARTICLE TWENTY-TWO OF THIS CHAPTER DURING THE TAX YEARS THAT THE CERTIF-
 ICATE  IS VALID. THE CREDIT SHALL BE COMPUTED PURSUANT TO THE PROVISIONS
 OF SUBSECTION (C) OF THIS SECTION.
   (B) DEFINITION. THE  TERM  "ELIGIBLE  ENERGY  COSTS"  SHALL  MEAN  THE
 AMOUNTS  PAID BY THE TAXPAYER FOR ELECTRICITY, NATURAL GAS, OR ANY OTHER
 ENERGY PRODUCT OR SERVICE WHICH THE TAXPAYER HAS USED IN  THE  OPERATION
 OF  A  MEI  CERTIFIED  MANUFACTURING  FIRM  FACILITY PURSUANT TO ARTICLE
 FIFTEEN OF THE ECONOMIC DEVELOPMENT LAW.
   (C) COMPUTATION OF ENERGY CREDIT. (1) IF THE TAXPAYER HAS PAID  ELIGI-
 BLE  ENERGY  COSTS DURING THE FIRST TAX YEAR OF THE FIVE-YEAR PERIOD FOR
 WHICH A VALID MEI  CERTIFICATE  HAS  BEEN  ISSUED  PURSUANT  TO  ARTICLE
 FIFTEEN OF THE ECONOMIC DEVELOPMENT LAW, PROVIDED THE TAXPAYER HAS MAIN-
 TAINED  THE  EMPLOYMENT AND ELIGIBLE WAGES REQUIREMENTS SPECIFIED BY THE
 MEI AS DEFINED IN ARTICLE FIFTEEN OF THE ECONOMIC DEVELOPMENT  LAW,  THE
 TAXPAYER  SHALL  BE  ALLOWED AN ENERGY CREDIT OF TWENTY-FIVE DOLLARS PER
 EMPLOYEE REQUIRED BY THE MEI  AS  DEFINED  IN  ARTICLE  FIFTEEN  OF  THE
 ECONOMIC  DEVELOPMENT  LAW.  IF THE TAXPAYER INCREASES EMPLOYMENT DURING
 THIS TAX YEAR, AND EXCEEDS THE LEVEL OF EMPLOYMENT REQUIRED BY  THE  MEI
 AS  DEFINED  IN  ARTICLE FIFTEEN OF THE ECONOMIC DEVELOPMENT LAW, HIRING
 AND MAINTAINING ADDITIONAL EMPLOYEES AND PAYING  ADDITIONAL  WAGES  OVER
 AND  ABOVE  THE  ELIGIBLE WAGES AMOUNT, THE TAXPAYER SHALL BE ALLOWED AN
 ADDITIONAL ENERGY CREDIT OF FIFTY DOLLARS PER EACH ADDITIONAL  EMPLOYEE.
 THE  ENERGY  TAX  CREDIT  SHALL NOT EXCEED THE AMOUNT OF ELIGIBLE ENERGY
 COSTS ACTUALLY PAID BY THE TAXPAYER.
   (2) IF THE TAXPAYER HAS PAID ELIGIBLE ENERGY COSTS DURING  THE  SECOND
 TAX  YEAR  OF THE FIVE-YEAR PERIOD FOR WHICH A VALID MEI CERTIFICATE HAS
 BEEN ISSUED PURSUANT TO ARTICLE FIFTEEN OF THE ECONOMIC DEVELOPMENT LAW,
 PROVIDED THE TAXPAYER HAS MAINTAINED THE EMPLOYMENT  AND  ELIGIBLE  WAGE
 REQUIREMENTS  SPECIFIED  BY THE MEI AS DEFINED IN ARTICLE FIFTEEN OF THE
 ECONOMIC DEVELOPMENT LAW, THE TAXPAYER SHALL BE ALLOWED AN ENERGY CREDIT
 OF TWENTY-FIVE DOLLARS PER EMPLOYEE REQUIRED BY THE MEI  AS  DEFINED  IN
 ARTICLE FIFTEEN OF THE ECONOMIC DEVELOPMENT LAW; HOWEVER, IF THE TAXPAY-
 ER  INCREASED  EMPLOYMENT  DURING THE PRECEDING TAX YEAR AND CLAIMED THE
 ADDITIONAL ENERGY TAX CREDIT OF FIFTY DOLLARS PER  ADDITIONAL  EMPLOYEE,
 THE  TAXPAYER  SHALL  BE  ALLOWED  A  CREDIT  OF TWENTY-FIVE DOLLARS PER
 EMPLOYEE UP TO THE NUMBER OF EMPLOYEES CLAIMED IN THE PREVIOUS TAX YEAR,
 PROVIDED THE TAXPAYER HAS MAINTAINED THE INCREASED EMPLOYMENT  AND  WAGE

 A. 5332                             5
 
 LEVELS.  IF  THE  TAXPAYER AGAIN INCREASES EMPLOYMENT, HIRING ADDITIONAL
 EMPLOYEES AND PAYING ADDITIONAL WAGES OVER AND ABOVE  THE  PREVIOUS  TAX
 YEAR'S  AMOUNTS,  THE  TAXPAYER SHALL BE ALLOWED AN ADDITIONAL CREDIT OF
 FIFTY DOLLARS FOR EACH ADDITIONAL EMPLOYEE HIRED DURING THE SECOND YEAR.
 THE  ENERGY  TAX  CREDIT  SHALL NOT EXCEED THE AMOUNT OF ELIGIBLE ENERGY
 COSTS ACTUALLY PAID BY THE TAXPAYER.
   § 3. Section 210-B of the tax law is amended by adding two new  subdi-
 visions 53 and 54 to read as follows:
   53. MEI WAGE TAX CREDIT.  (A) ALLOWANCE OF CREDIT. A TAXPAYER SHALL BE
 ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTICLE, TO BE COMPUTED
 AS  PROVIDED IN SECTION EIGHT HUNDRED SIXTY-ONE OF THIS CHAPTER, AGAINST
 THE TAX IMPOSED BY THIS ARTICLE.
   (B) CARRYOVERS. THE CREDIT ALLOWED  UNDER  THIS  SUBDIVISION  FOR  ANY
 TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE
 AMOUNT  PRESCRIBED  IN  PARAGRAPH  (D) OF SUBDIVISION ONE OF SECTION TWO
 HUNDRED TEN OF THIS ARTICLE; PROVIDED, HOWEVER, IF THE  AMOUNT  OF  THIS
 CREDIT  ALLOWABLE UNDER THIS SECTION FOR ANY TAXABLE YEAR REDUCES TAX TO
 SUCH AMOUNT, ANY AMOUNT OF THE CREDIT NOT  DEDUCTIBLE  IN  SUCH  TAXABLE
 YEAR  MAY  BE  CARRIED  OVER  TO  THE FOLLOWING YEAR OR YEARS AND MAY BE
 DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   54. MEI ENERGY TAX CREDIT. (A) ALLOWANCE OF CREDIT. A  TAXPAYER  SHALL
 BE  ALLOWED  A  CREDIT  AGAINST  THE  TAX IMPOSED BY THIS ARTICLE, TO BE
 COMPUTED AS PROVIDED IN SECTION EIGHT HUNDRED SIXTY-TWO OF THIS CHAPTER,
 AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (B) CARRYOVERS. THE CREDIT ALLOWED  UNDER  THIS  SUBDIVISION  FOR  ANY
 TAXABLE YEAR SHALL NOT REDUCE THE TAX DUE FOR SUCH YEAR TO LESS THAN THE
 AMOUNT  PRESCRIBED  IN  PARAGRAPH  (D) OF SUBDIVISION ONE OF SECTION TWO
 HUNDRED TEN OF THIS ARTICLE; PROVIDED, HOWEVER, IF THE  AMOUNT  OF  THIS
 CREDIT  ALLOWABLE UNDER THIS SECTION FOR ANY TAXABLE YEAR REDUCES TAX TO
 SUCH AMOUNT, ANY AMOUNT OF THE CREDIT NOT  DEDUCTIBLE  IN  SUCH  TAXABLE
 YEAR  MAY  BE  CARRIED  OVER TO THE FOLLOWING YEAR   OR YEARS AND MAY BE
 DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
   § 4. Subparagraph (B) of paragraph 1 of subsection (i) of section  606
 of  the tax law is amended by adding two new clauses (xliv) and (xlv) to
 read as follows:
 
 (XLIV) MEI WAGE TAX CREDIT UNDER     AMOUNT OF MEI WAGE TAX CREDIT
 SUBSECTION (JJJ)                     UNDER SUBDIVISION FIFTY THREE OF
                                      SECTION TWO HUNDRED TEN-B
 
 (XLV) MEI ENERGY TAX CREDIT UNDER    AMOUNT OF MEI ENERGY TAX CREDIT
 SUBSECTION (KKK)                     UNDER SUBDIVISION FIFTY-FOUR OF
                                      SECTION TWO HUNDRED TEN-B
   § 5. Section 606  of  the  tax  law  is  amended  by  adding  two  new
 subsections (jjj) and (kkk) to read as follows:
   (JJJ)  MEI  WAGE TAX CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER SHALL
 BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION EIGHT HUNDRED
 SIXTY-ONE OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (2) APPLICATION OF CREDIT. IF THE AMOUNT OF THE CREDIT  ALLOWED  UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR
 SUCH  YEAR,  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 ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST
 SHALL BE PAID THEREON.

 A. 5332                             6
 
   (KKK) MEI ENERGY TAX CREDIT. (1) ALLOWANCE OF CREDIT. A TAXPAYER SHALL
 BE ALLOWED A CREDIT, TO BE COMPUTED AS PROVIDED IN SECTION EIGHT HUNDRED
 SIXTY-TWO OF THIS CHAPTER, AGAINST THE TAX IMPOSED BY THIS ARTICLE.
   (2)  APPLICATION  OF CREDIT. IF THE AMOUNT OF THE CREDIT ALLOWED UNDER
 THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR
 SUCH YEAR, 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 ARTICLE, PROVIDED, HOWEVER, THAT NO  INTEREST
 SHALL BE PAID THEREON.
   § 6. This act shall take effect on the one hundred eightieth day after
 it shall have become a law and shall apply to taxable years beginning on
 or  after January 1, 2020 and before January 1, 2027; provided, however,
 that the addition, amendment and/or repeal of  any  rule  or  regulation
 necessary  for  the implementation of this act on its effective date are
 authorized and directed to be made on or before such date.
 
                                  PART B
 
   Section 1. Paragraph (a) of subdivision 43 of section 210-B of the tax
 law, as added by section 17 of part A of chapter 59 of the laws of 2014,
 is amended to read as follows:
   (a) A qualified New York manufacturer, as defined in subparagraph (vi)
 of paragraph (a) of subdivision one of section two hundred ten  of  this
 article, will be allowed a credit equal to [twenty] FIFTY percent of the
 real  property  tax  it  paid  during the taxable year for real property
 owned by such manufacturer in New York which was principally used during
 the taxable year for manufacturing to the extent not deducted in  deter-
 mining    entire net income. This credit will not be allowed if the real
 property taxes that are the basis for this credit are  included  in  the
 calculation of another credit claimed by the taxpayer.
   §  2. Paragraph 1 of subsection (xx) of section 606 of the tax law, as
 amended by section 8 of part I of chapter 59 of the  laws  of  2015,  is
 amended to read as follows:
   (1)  A  qualified New York manufacturer will be allowed a credit equal
 to [twenty] FIFTY percent of the real property tax it  paid  during  the
 taxable  year  for  real property owned by such manufacturer in New York
 which was principally used during the taxable year for manufacturing  to
 the  extent  not  deducted  in computing New York adjusted gross income.
 This credit will not be allowed if the real property taxes that are  the
 basis  for this credit are included in the calculation of another credit
 claimed by the taxpayer.
   § 3. This act shall take effect immediately and  shall  apply  to  tax
 years beginning on or after January 1, 2020.
   § 4. Severability clause. If any clause, sentence, paragraph, subdivi-
 sion,  section  or  part  of  this act shall be adjudged by any court of
 competent jurisdiction to be invalid, such judgment  shall  not  affect,
 impair,  or  invalidate  the remainder thereof, but shall be confined in
 its operation to the clause, sentence, paragraph,  subdivision,  section
 or part thereof directly involved in the controversy in which such judg-
 ment shall have been rendered. It is hereby declared to be the intent of
 the  legislature  that  this  act  would  have been enacted even if such
 invalid provisions had not been included herein.
   § 5. This act shall take effect immediately, provided,  however,  that
 the  applicable effective date of Part A and Part B of this act shall be
 as specifically set forth in the last section of such Parts.