NY A00799

Establishes a tax credit for business firms that contribute capital to municipalities for new construction or renovation of "universal playgrounds" designed to be accessible to children with physical, sensory, or developmental disabilities.

Defines "universal playground" as a playground meeting all federal accessibility standards and designed so that children with disabilities can effectively utilize at least 70 percent of the playground's play activities.

Limits aggregate capital contributions to any single municipality or local authority to $150,000 per fiscal year, with municipalities unable to receive more than $150,000 in contributed capital in any one fiscal year.

Caps total tax credits statewide at $20 million per fiscal year, with no more than 50 percent of credits allowed for playground projects in cities with populations of one million or more.

Allows unused tax credits to be carried forward or backward up to five years, and prohibits financial institutions and businesses engaged in their ordinary course of business from claiming the credit.