NY Econ Dev L § 422 (2021)
2021 New York Laws COM - Economic Development Law Article 20 - Empire State Jobs Retention Program 422 - Definitions.

§ 422. Definitions. For the purposes of this article:   1.  "Agriculture"  means  both agricultural production (establishments performing  the  complete  farm  or  ranch  operation,  such   as   farm owner-operators,   tenant   farm   operators,   and  sharecroppers)  and agricultural support (establishments that perform one or more activities associated with farm operation,  such  as  soil  preparation,  planting, harvesting, and management, on a contract or fee basis).   2. "Back office operations" means a business function that may include one  or  more of the following activities: customer service, information technology and data processing, human resources, accounting and  related administrative functions.   3.  "Certificate  of  eligibility"  means  the  document issued by the department to an applicant that  has  completed  an  application  to  be admitted  into  the  empire  state  jobs  retention program and has been accepted into the program by the department. Possession of a certificate of eligibility does not by itself guarantee the eligibility to claim the tax credit.   4. "Certificate  of  tax  credit"  means  the  document  issued  to  a participant  by  the  department, after the department has verified that the participant has met all  applicable  eligibility  criteria  in  this article.  The  certificate shall be issued annually if such criteria are satisfied and shall specify the exact amount of each  tax  credit  under this  article  that  a  participant  may claim, pursuant to section four hundred twenty-five of this article, and shall specify the taxable  year in which such credit may be claimed.   5.  "Distribution  center"  means  a  large  scale  facility involving processing, repackaging and/or movement  of  finished  or  semi-finished goods to retail locations across a multi-state area.   6.  "Financial  services data centers" or "financial services customer back office  operations"  means  operations  that  manage  the  data  or accounts of existing customers or provide product or service information and  support  to  customers  of  financial services companies, including banks, other lenders, securities and commodities  brokers  and  dealers, investment  banks,  portfolio  managers,  trust  offices,  and insurance companies.   7. "Impacted jobs" means jobs existing at a business enterprise  at  a location  or  locations  within  the county declared an emergency by the governor on the day immediately preceding the day  on  which  the  event leading to the emergency declaration by the governor occurred.   8.  "Manufacturing"  means  the  process of working raw materials into products suitable for use or which gives new shapes, new quality or  new combinations  to  matter  which has already gone through some artificial process by the use of machinery, tools,  appliances,  or  other  similar equipment.  "Manufacturing"  does not include an operation that involves only the assembly of components,  provided,  however,  the  assembly  of motor  vehicles  or  other high value-added products shall be considered manufacturing.   9. "Participant" means a business entity that:  (a) has completed an application prescribed by the  department  to  be admitted into the program;  (b) has been issued a certificate of eligibility by the department;  (c) has demonstrated that it meets the eligibility criteria in section four  hundred  twenty-three  and subdivision two of section four hundred twenty-four of this article; and  (d) has been certified as a participant by the commissioner.   10. "Preliminary schedule of benefits"  means  the  maximum  aggregate amount  of  the  tax  credit that a participant in the empire state jobs retention program is eligible to receive pursuant to this  article.  The  schedule  shall  indicate  the annual amount of the credit a participant may claim in each of its  ten  years  of  eligibility.  The  preliminary schedule  of  benefits  shall  be  issued  by  the  department  when the department  approves the application for admission into the program. The commissioner may amend that schedule,  provided  that  the  commissioner complies  with  the  credit  caps in section three hundred fifty-nine of this chapter.   11. "Related person" means a related person pursuant  to  subparagraph (c)  of  paragraph  three  of  subsection  (b)  of  section four hundred sixty-five of the internal revenue code.   12. "Scientific research and development"  means  conducting  research and  experimental  development  in  the  physical, engineering, and life sciences,  including  but  not  limited  to  agriculture,   electronics, environmental,  biology,  botany,  biotechnology,  computers, chemistry, food,  fisheries,  forests,  geology,  health,  mathematics,   medicine, oceanography,  pharmacy, physics, veterinary, and other allied subjects. For the purposes of this article, scientific  research  and  development does not include medical or veterinary laboratory testing facilities.   13.  "Software  development"  means  the  creation  of  coded computer instructions and includes new media as defined by  the  commissioner  in regulations.