NY S06138

Amends Tax Law Section 171 to require the Commissioner of Taxation and Finance to issue an annual report by December 31st disclosing aggregate amounts claimed for each tax credit in Chapter 1 of the Tax Law

Report must include only credits claimed by at least three taxpayers, covering returns and reports filed during the immediately preceding state fiscal year

Credits claimed through pass-through entities (entities not subject to entity-level taxation) are counted as a single entity report and do not count toward the three-taxpayer threshold

Reporting requirement is in addition to any other existing reporting requirements under the Tax Law

Act takes effect immediately upon enactment