2023 New York Laws › COM - Economic Development Law › Article 17 - Excelsior Jobs Program Act › 359 - Cap on Tax Credit.

§ 359. Cap on tax credit. 1. Except with respect to tax credits issued
  to  Green  CHIPS  projects  as  articulated  in subdivision four of this
  section, the total amount of tax credits issued by the commissioner  for
  any  taxable  year  may  not  exceed  the  limitations set forth in this
  subdivision. Except with respect to tax credits issued  to  Green  CHIPS
  projects as articulated in subdivision four of this section, one-half of
  any  amount of tax credits not awarded for a particular taxable year may
  be used by the commissioner to award  tax  credits  in  another  taxable
  year.
 
  Credit components in the aggregate           With respect to taxable
  shall not exceed:                            years beginning in:
$ 50 million                               2011
$ 100 million                              2012
$ 150 million                              2013
$ 200 million                              2014
$ 250 million                              2015
$ 183 million                              2016
$ 183 million                              2017
$ 183 million                              2018
$ 183 million                              2019
$ 183 million                              2020
$ 183 million                              2021
$ 133 million                              2022
$ 83 million                               2023
$ 36 million                               2024
$ 200 million                              2025
$ 200 million                              2026
$ 200 million                              2027
$ 200 million                              2028
$ 200 million                              2029
2. Twenty-five percent of tax credits shall be allocated to businesses
  accepted  into  the  program  under  subdivision  four  of section three
  hundred fifty-three of this article  and  seventy-five  percent  of  tax
  credits shall be allocated to businesses accepted into the program under
  subdivision three of section three hundred fifty-three of this article.
3.  Provided,  however,  if by September thirtieth of a calendar year,
  the department has not allocated the full amount of credits available in
  that year to either: (i) businesses  accepted  into  the  program  under
  subdivision four of section three hundred fifty-three of this article or
  (ii)  businesses  accepted  into  the program under subdivision three of
  section three hundred fifty-three of this article, the commissioner  may
  allocate  any  remaining  tax  credits  to businesses referenced in this
  paragraph as needed; provided, however, that under no circumstances  may
  the  aggregate  statutory  cap  for  all  program years be exceeded. One
  hundred percent of the unawarded amounts remaining at  the  end  of  two
  thousand   twenty-nine   may   be   allocated   in   subsequent   years,
  notwithstanding the fifty percent  limitation  on  any  amounts  of  tax
  credits  not  awarded  in  taxable years two thousand eleven through two
  thousand twenty-nine. Provided, however, no tax credits may  be  allowed
  for  taxable  years  beginning  on  or after January first, two thousand
  forty.
4. The total amount of tax credits issued by the commissioner for  the
  taxable  years  two  thousand  twenty-two  to two thousand forty-one for
  Green CHIPS projects shall not exceed five hundred million per year. One
  hundred percent  of  any  amount  of  tax  credits  not  awarded  for  a

  particular  taxable  year  may  be used by the commissioner to award tax
  credits in another taxable year. Notwithstanding  the  foregoing,  Green
  CHIPS  projects  may be allowed to claim credits for taxable years up to
  January first, two thousand fifty.