NY A05215

Expands investment tax credit eligibility to all businesses in New York State by adding a new category (H) for property principally used in any trade or business not otherwise described, effective for taxable years ending on or after January 1, 2015.

Modifies qualified emerging technology company tax rates to 5.7 percent for taxable years beginning January 1, 2015 through December 31, 2015, and zero percent for taxable years beginning January 1, 2016 and after, with requirement that all corporations in a combined report must qualify as such companies.

Establishes "certified startup business enterprise" designation for New York businesses with less than $5 million in annual revenues engaged in qualifying technology or innovation activities (including biotechnology, information technology, advanced materials, electronics, renewable energy, and manufacturing).

Creates angel tax credit equal to 50 percent of qualifying angel investments made to certified startup business enterprises, with individual investments ranging from $100,000 to $2 million per company.

Allocates up to $20 million in qualifying angel investment certification authority for each fiscal year from July 1, 2015 through June 30, 2018, with the Commissioner authorized to set certification requirements and evaluate applications competitively.