2006 New York Code - Qeze Credit For Real Property Taxes For Agricultural Cooperatives.

 
    §  187-j.  QEZE  credit  for  real  property  taxes  for  agricultural
  cooperatives. 1. Allowance of credit. A taxpayer,  subject  to  the  tax
  imposed  by  section one hundred eighty-five of this article, which is a
  qualified empire zone enterprise shall be allowed a credit for  eligible
  real  property  taxes,  to be computed as provided in section fifteen of
  this chapter, against the tax imposed by such section.
    2. Application of credit. The credit allowed under  this  section  for
  any taxable year shall not reduce the tax due for such year to less than
  the  minimum  tax  prescribed  in subdivision two of section one hundred
  eighty-five of this article. If the amount of credit allowed under  this
  section for any taxable year reduces the taxpayer's tax for such year to
  such  amount,  any amount of credit thus not deductible shall be treated
  as an overpayment of tax to be credited or refunded in  accordance  with
  the  provisions  of  section  one  thousand  eighty-six of this chapter.
  Provided, however, the provisions  of  subsection  (c)  of  section  one
  thousand eighty-eight of this chapter notwithstanding, no interest shall
  be paid thereon.