2012 New York Consolidated Laws
TAX - Tax
Article 1 - (1 - 37) SHORT TITLE; DEFINITIONS; MISCELLANEOUS
34*2 - Temporary deferral payout credits.

 
    * §  34.    Temporary  deferral  payout  credits.  1.  The  amounts of
  nonrefundable credits that are deferred pursuant to section thirty-three
  of this article in taxable years beginning on or  after  January  first,
  two  thousand  ten and before January first, two thousand thirteen shall
  be  accumulated  and  constitute  the  taxpayer's   temporary   deferral
  nonrefundable payout credit. The taxpayer may first claim this credit in
  the  taxable  year  beginning  on  or  after January first, two thousand
  thirteen and before January first, two thousand fourteen.  The  taxpayer
  shall  be allowed to claim this credit until the accumulated amounts are
  exhausted. The credit shall be allowed against  the  taxpayer's  tax  as
  provided  in  the  provisions referenced in paragraph (a) of subdivision
  three of this section.
    2. The amounts of refundable credits that  are  deferred  pursuant  to
  section  thirty-three  of  this article in taxable years beginning on or
  after January first, two thousand ten  and  before  January  first,  two
  thousand  thirteen  shall  be  accumulated and constitute the taxpayer's
  temporary  deferral  refundable  payout  credit.  In  the  taxable  year
  beginning  on  or  after January first, two thousand thirteen and before
  January first, two thousand fourteen, the taxpayer shall be  allowed  to
  claim  a credit equal to fifty percent of the amount accumulated. In the
  taxable year beginning on or after January first, two thousand  fourteen
  and  before  January  first, two thousand fifteen, the taxpayer shall be
  allowed to claim a credit equal to seventy-five percent of  the  balance
  of  the  amount  accumulated.  In the taxable year beginning on or after
  January first, two  thousand  fifteen  and  before  January  first,  two
  thousand  sixteen, the taxpayer shall be allowed to claim a credit equal
  to the remaining balance of the amount accumulated. The credit shall  be
  allowed  against  the  taxpayer's  tax  as  provided  in  the provisions
  referenced in paragraph (b) of subdivision three of this section.
    3. (a) For application of the temporary deferral nonrefundable  payout
  credit, see the following provisions of this chapter:
    (1) Article 9: section 187-0
    (2) Article 9-A: section 210(41)
    (3) Article 22: section 606(qq)
    (4) Article 32: section 1456(v)
    (5) Article 33: section 1511(y)
    (b)  For  application  of  the  temporary  deferral  refundable payout
  credit, see the following provisions of this chapter:
    (1) Article 9: section 187-p
    (2) Article 9-A: section 210(42)
    (3) Article 22: section 606(rr)
    (4) Article 32: section 1456(w)
    (5) Article 33: section 1511(z)
    * NB There are 2 § 34's