New York A 9610: Increases the excelsior research and development tax credit for qualified research and development expenditures attributable to activities conducted in New York state

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A09610 Summary:

BILL NOA09610 

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SAME ASNo Same As

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SPONSORHooks

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COSPNSR

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MLTSPNSR

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Amd §355, Ec Dev L

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Increases the excelsior research and development tax credit maximum from six to twenty percent for qualified research and development expenditures attributable to activities conducted in New York state.

Go to top A09610 Actions:

BILL NOA09610 

&nbsp

01/21/2026referred to economic development

Go to topA09610 Committee&nbspVotes:

Go to topA09610 Floor&nbspVotes:

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

Go to topA09610 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9610

 IN ASSEMBLY

 January 21, 2026
 ___________

 Introduced by M. of A. HOOKS -- read once and referred to the Committee
 on Economic Development

 AN ACT to amend the economic development law, in relation to increasing
 the excelsior research and development tax credit for qualified
 research and development expenditures attributable to activities
 conducted in New York state

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

 1 Section 1. Subdivision 3 of section 355 of the economic development
 2 law, as amended by section 3 of subpart A of part H of chapter 59 of the
 3 laws of 2025, is amended to read as follows:
 4 3. Excelsior research and development tax credit component. A partic-
 5 ipant in the excelsior jobs program shall be eligible to claim a credit
 6 equal to fifty percent of the portion of the participant's federal
 7 research and development tax credit that relates to the participant's
 8 research and development expenditures in New York state during the taxa-
 9 ble year; provided however, if not a green project, the excelsior
 10 research and development tax credit shall not exceed [six] twenty
 11 percent of the qualified research and development expenditures attribut-
 12 able to activities conducted in New York state, or, if a green project
 13 or a Green CHIPS project, the excelsior research and development tax
 14 credit shall not exceed eight percent of the research and development
 15 expenditures attributable to activities conducted in New York state, or
 16 if a semiconductor supply chain project, the excelsior research and
 17 development tax credit shall not exceed seven percent of the qualified
 18 research and development expenditures attributable to activities
 19 conducted in New York state. If the federal research and development
 20 credit has expired, then the research and development expenditures
 21 relating to the federal research and development credit shall be calcu-
 22 lated as if the federal research and development credit structure and
 23 definition in effect in two thousand nine were still in effect. Notwith-
 24 standing any other provision of this chapter to the contrary, research
 25 and development expenditures in this state, including salary or wage
 26 expenses for jobs related to research and development activities in this

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09412-02-6

 A. 9610 2

 1 state, may be used as the basis for the excelsior research and develop-
 2 ment tax credit component and the qualified emerging technology company
 3 facilities, operations and training credit under the tax law.
 4 § 2. This act shall take effect immediately.

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