* § 49. Newspaper and broadcast media jobs tax credit. (a) Allowance
of credit. A taxpayer subject to tax under article nine-A or twenty-two
of this chapter shall be allowed a credit against such tax, pursuant to
the provisions referenced in subdivision (e) of this section. The amount
of the credit is equal to the amount determined pursuant to article
twenty-seven of the economic development law and shall be based on the
certificates of tax credit issued to eligible businesses owned by the
taxpayer or by an entity of which the taxpayer is a partner or
shareholder. A taxpayer that is a partner in a partnership, member of a
limited liability company or shareholder in a subchapter S corporation
shall be allowed its pro-rata share of the credit allowed for the
partnership, limited liability company or subchapter S corporation. No
cost or expense paid or incurred that is included as part of the
calculation of this credit shall be the basis of any other tax credit
allowed under this chapter.

(b) Eligibility. To be eligible to claim the newspaper and broadcast
media jobs tax credit the eligible businesses owned by the taxpayer or
by an entity of which the taxpayer is a partner or shareholder shall
have been issued a certificate of tax credit by the department of
economic development pursuant to article twenty-seven of the economic
development law, which certificate or certificates shall set forth the
amount of the credit that may be claimed for the taxable year. The
taxpayer shall be allowed to claim only the amount or amounts listed on
the certificate or certificates of tax credit issued to eligible
businesses owned by the taxpayer or by an entity of which the taxpayer
is a partner or shareholder for that taxable year.

(c) Tax return requirement. The taxpayer shall be required to attach
to its tax return, in the form prescribed by the commissioner, proof of
receipt of its certificate or certificates of tax credit issued by the
commissioner of the department of economic development.

(d) Credit recapture. If a certificate of tax credit issued by the
department of economic development under article twenty-seven of the
economic development law is revoked by such department, the amount of
credit described in this section and claimed by the taxpayer prior to
that revocation shall be added back to tax in the taxable year in which
any such revocation becomes final.

(e) Cross references. For application of the credit provided in this
section see the following provisions of this chapter:

(1) article 9-A: section 210-B, subdivision 60.

(2) article 22: section 606, subsection (ppp).

* NB There are two § 49's