NY A01892

Establishes a qualified emerging technology company capital tax credit allowing taxpayers to claim credits for investments in emerging technology companies, seed investments, venture capital funds, and seed capital funds

Provides tiered credit percentages: 20% for qualified investments (10% year one, 5% years two-three), 40% for qualified seed investments (20% year one, 10% years two-three), and 20% for qualified fund and seed fund investments (10% year one, 5% years two-three)

Sets annual credit limits of $300,000 for qualified investments, $600,000 for qualified seed investments, $300,000 for qualified fund investments, and $300,000 for qualified seed fund investments per taxpayer

Requires investments to be unsecured, not sold or recovered within 24 months of first claiming the credit, and not made by business owners or related persons

Applies to tax years beginning January 1, 2010 through December 31, 2015, when the credit provisions automatically expire