§ 359-g. Semiconductor research and development tax credit. 1. A
participant in the semiconductor research and development project
program shall be eligible to claim a credit on qualified investments in
semiconductor research and development projects in New York state. The
amount of such credit shall be equal to fifteen percent of the cost or
other basis for federal income tax purposes of the qualified investment.

2. The total amount of tax credits listed on certificates of tax
credit issued by the commissioner shall be allotted from the funds
available for Green CHIPS tax credits as provided under subdivision four
of section three hundred fifty-nine of this chapter.