Semiconductor research and development tax credit

§ 359-g. Semiconductor research and development tax credit. 1. A\nparticipant in the semiconductor research and development project\nprogram shall be eligible to claim a credit on qualified investments in\nsemiconductor research and development projects in New York state. The\namount of such credit shall be equal to fifteen percent of the cost or\nother basis for federal income tax purposes of the qualified investment.\n 2. The total amount of tax credits listed on certificates of tax\ncredit issued by the commissioner shall be allotted from the funds\navailable for Green CHIPS tax credits as provided under subdivision four\nof section three hundred fifty-nine of this chapter.\n