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Assembly Bill A9610

2025-2026 Legislative Session

Increases the excelsior research and development tax credit for qualified research and development expenditures attributable to activities conducted in New York state

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Current Bill Status - In Assembly Committee

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2025-A9610 (ACTIVE) - Details

Current Committee:
Assembly Economic Development
Law Section:
Economic Development Law
Laws Affected:
Amd §355, Ec Dev L

2025-A9610 (ACTIVE) - Summary

Increases the excelsior research and development tax credit maximum from six to twenty percent for qualified research and development expenditures attributable to activities conducted in New York state.

2025-A9610 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9610
 
                           I N  A S S E M B L Y
 
                             January 21, 2026
                                ___________
 
 Introduced  by M. of A. HOOKS -- read once and referred to the Committee
   on Economic Development
 
 AN ACT to amend the economic development law, in relation to  increasing
   the  excelsior  research  and  development  tax  credit  for qualified
   research  and  development  expenditures  attributable  to  activities
   conducted in New York state

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 3 of section 355 of  the  economic  development
 law, as amended by section 3 of subpart A of part H of chapter 59 of the
 laws of 2025, is amended to read as follows:
   3.  Excelsior research and development tax credit component. A partic-
 ipant in the excelsior jobs program shall be eligible to claim a  credit
 equal  to  fifty  percent  of  the  portion of the participant's federal
 research and development tax credit that relates  to  the  participant's
 research and development expenditures in New York state during the taxa-
 ble  year;  provided  however,  if  not  a  green project, the excelsior
 research and development  tax  credit  shall  not  exceed  [six]  TWENTY
 percent of the qualified research and development expenditures attribut-
 able  to  activities conducted in New York state, or, if a green project
 or a Green CHIPS project, the excelsior  research  and  development  tax
 credit  shall  not  exceed eight percent of the research and development
 expenditures attributable to activities conducted in New York state,  or
 if  a  semiconductor  supply  chain  project, the excelsior research and
 development tax credit shall not exceed seven percent of  the  qualified
 research   and   development  expenditures  attributable  to  activities
 conducted in New York state. If the  federal  research  and  development
 credit  has  expired,  then  the  research  and development expenditures
 relating to the federal research and development credit shall be  calcu-
 lated  as  if  the federal research and development credit structure and
 definition in effect in two thousand nine were still in effect. Notwith-
 standing any other provision of this chapter to the  contrary,  research
 and  development  expenditures  in  this state, including salary or wage
 expenses for jobs related to research and development activities in this
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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