Internal prototype — noindexed, not linked from public navigation yet.

Statutes » New York » COM Law » Article 26

N.Y. COM Law § 486

This is the official text of N.Y. COM Law § 486, part of New York’s COM Law — part of the compiled statutory law of New York, published by the state as "COM Law." Browse the sections below, each linked to its official government source.

Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.

Powers and duties of the commissioner

Official statutory text

§ 486. Powers and duties of the commissioner. 1. The commissioner may\npromulgate regulations establishing an application process and\neligibility criteria, that will be applied consistent with the purposes\nof this article, so as not to exceed the annual cap on tax credits set\nforth in section four hundred eighty-nine of this article which,\nnotwithstanding any provisions to the contrary in the state\nadministrative procedure act, may be adopted on an emergency basis.\n 2. The commissioner shall, in consultation with the department of\ntaxation and finance, develop a certificate of tax credit that shall be\nissued by the commissioner to eligible businesses. Such certificate\nshall contain such information as required by the department of taxation\nand finance.\n 3. The commissioner shall solely determine the eligibility of any\napplicant applying for entry into the program and shall remove any\nbusiness entity from the program for failing to meet any of the\nrequirements set forth in section four hundred eighty-three of this\narticle, or for failing to meet the requirements set forth in\nsubdivision one of section four hundred eighty-four of this article.\n

Status: in_force · Read it on the official government site

Need a lawyer in New York?

Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.