2015 New York Laws
TAX - Tax
Article 9 - (Tax) CORPORATION TAX
187-I - Environmental remediation insurance credit.

*  187-i. Environmental remediation insurance credit. 1. Allowance of
  credit. A taxpayer shall be allowed a credit, to be computed as provided
  in  section  twenty-three  of this chapter, against the taxes imposed by
  sections one hundred  eighty-three,  one  hundred  eighty-four  and  one
  hundred  eighty-five of this article. Provided, however, that the amount
  of such credit allowable against the tax imposed by section one  hundred
  eighty-four  of  this  article shall be the excess of the amount of such
  credit over the amount of any credit allowed by this section against the
  tax imposed by section one hundred eighty-three of this article.
2. Application of credit. In no event  shall  the  credit  under  this
  section  be  allowed  in  an amount which will reduce the tax payable to
  less than the applicable  minimum  tax  fixed  by  section  one  hundred
  eighty-three  or  one  hundred eighty-five of this article. If, however,
  the amount of credit allowable under this section for any  taxable  year
  reduces  the  tax to such amount, any amount of credit not deductible in
  such taxable year shall be treated  as  an  overpayment  of  tax  to  be
  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.
* NB Effective until January 1, 2018
*  187-i. Environmental remediation insurance credit. 1. Allowance of
  credit. A taxpayer shall be allowed a credit, to be computed as provided
  in section twenty-three of this chapter, against the  taxes  imposed  by
  sections  one  hundred  eighty-three and one hundred eighty-four of this
  article. Provided, however, that the amount  of  such  credit  allowable
  against  the  tax  imposed  by  section  one hundred eighty-four of this
  article shall be the excess of the amount of such credit over the amount
  of any credit allowed by this section against the tax imposed by section
  one hundred eighty-three of this article.
2. Application of credit. In no event  shall  the  credit  under  this
  section  be  allowed  in  an amount which will reduce the tax payable to
  less than the applicable  minimum  tax  fixed  by  section  one  hundred
  eighty-three  of  this  article.  If,  however,  the  amount  of  credit
  allowable under this section for any taxable year  reduces  the  tax  to
  such  amount,  any  amount of credit not deductible in such taxable year
  shall be treated as an overpayment of tax to be 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.
* NB Effective January 1, 2018