New York A 10247: Relates to the employment of veterans with disabilities

Bill Text

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A10247 Summary:

BILL NOA10247 

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SAME ASNo Same As

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SPONSORMikulin

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COSPNSR

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MLTSPNSR

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Amd §355, Ec Dev L

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Enacts the "empire innovation act"; provides that a participant in the excelsior jobs program shall be eligible to claim a credit equal to the portion of the full cost of the participant's research and development expenses incurred that relates to the participant's research and development expenditures in New York state during the taxable year; provided however, if the participant receives a federal research and development tax credit calculated on the full cost of the participant's research and development expenses that relates to the participant's research and development expenditures in New York state during the taxable year, then said participant shall only be eligible to claim a credit equal to fifty percent of the portion of the participant's federal research and development tax credit that relates to the participant's research and development expenditures in New York state during the taxable year.

Go to top A10247 Actions:

BILL NOA10247 

&nbsp

02/12/2026referred to economic development

Go to topA10247 Committee&nbspVotes:

Go to topA10247 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA10247 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10247

 IN ASSEMBLY

 February 12, 2026
 ___________

 Introduced by M. of A. MIKULIN -- read once and referred to the Commit-
 tee on Economic Development

 AN ACT to amend the economic development law, in relation to the excels-
 ior research and development tax credit

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. This act shall be known and may be cited as the "empire
 2 innovation act".
 3 § 2. Subdivision 3 of section 355 of the economic development law, as
 4 amended by section 3 of subpart A of part H of chapter 59 of the laws of
 5 2025, is amended to read as follows:
 6 3. Excelsior research and development tax credit component. A partic-
 7 ipant in the excelsior jobs program shall be eligible to claim a credit
 8 equal to [fifty percent of] the portion of the [participant's federal
 9 research and development tax credit that relates to the participant's
 10 research and development expenditures in New York state during the taxa-
 11 ble year; provided however,] full cost of the participant's research and
 12 development expenses incurred that relates to the participant's research
 13 and development expenditures in New York state during the taxable year;
 14 provided however, if the participant receives a federal research and
 15 development tax credit calculated on the full cost of the participant's
 16 research and development expenses that relates to the participant's
 17 research and development expenditures in New York state during the taxa-
 18 ble year, then said participant shall only be eligible to claim a credit
 19 equal to fifty percent of the portion of the participant's federal
 20 research and development tax credit that relates to the participant's
 21 research and development expenditures in New York state during the taxa-
 22 ble year; if not a green project, the excelsior research and development
 23 tax credit shall not exceed six percent of the qualified research and
 24 development expenditures attributable to activities conducted in New
 25 York state, or, if a green project or a Green CHIPS project, the excels-
 26 ior research and development tax credit shall not exceed eight percent
 27 of the research and development expenditures attributable to activities
 28 conducted in New York state, or if a semiconductor supply chain project,

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01204-02-6

 A. 10247 2

 1 the excelsior research and development tax credit shall not exceed seven
 2 percent of the qualified research and development expenditures attribut-
 3 able to activities conducted in New York state. If the federal research
 4 and development credit has expired, then the research and development
 5 expenditures relating to the federal research and development credit
 6 shall be calculated as if the fede