NY A04570

Part A - Investment Tax Credit Expansion: Expands eligibility for the investment tax credit under Tax Law sections 210 and 606 to include tangible property used in any trade or business (clause H), not just specifically enumerated industries like manufacturing, research and development, and film production; applies to taxable years ending on or after January 1, 2013.

Part B - Qualified Emerging Technology Tax Credit Extension: Extends the sunset date of the qualified emerging technology company tax credit from January 1, 2012 to January 1, 2015 under Tax Law sections 210 and 606, and removes restrictions limiting the credit to certain specific activities.

Part C - Angel Tax Credit and Certified Startup Business Enterprises: Creates a new "certified startup business enterprise" designation in General Municipal Law section 959-c for businesses under $5 million in annual revenue engaged in qualifying technology or innovation activities; allows taxpayers to claim a 50 percent tax credit on qualifying angel investments of $100,000 to $2 million under Tax Law sections 210, 606, 1456, and 1511.

Caps on Angel Investment Certification: Limits the commissioner's authority to certify up to $20 million in qualifying angel investments annually for fiscal years 2013-2014, 2014-2015, and 2015-2016.