§ 1201-a. Credits against taxes administered by cities of one million\nor more. (a) Any utility company subject to the supervision of the\npublic service commission required to grant rebates or discounts on\nbills for energy services or natural gas in accordance with a local law\nadopted pursuant to article two-F of the general city law shall be\nentitled to a credit for such rebates and discounts, as provided in such\narticle of the general city law, against the amount of tax to be paid\npursuant to any gross receipts tax imposed by a local law adopted\npursuant to subdivision (a) of section twelve hundred one of this\nchapter. The amounts of such rebates and discounts shall not be treated\nas affecting or reducing the gross receipts otherwise subject to tax\nunder such gross receipts tax or reducing the amount of tax imposed by\nor pursuant to any authorization contained in this chapter.\n (b) Empire state film production credit. Any city in this state having\na population of one million or more, acting through its local\nlegislative body, is hereby authorized to adopt and amend local laws to\nallow a credit against the general corporation tax and the\nunincorporated business tax imposed pursuant to the authority of chapter\nseven hundred seventy-two of the laws of nineteen hundred sixty-six\nwhich shall be substantially identical to the credit allowed under\nsection twenty-four of this chapter, except that (A) the percentage of\nqualified production costs used to calculate such credit shall be five\npercent, (B) whenever such section twenty-four references the state,\nsuch words shall be read as referencing the city, (C) such credit shall\nbe allowed only to a taxpayer which is a qualified film production\ncompany, and (D) the effective date of such credit shall be July first,\ntwo thousand six. Such credit shall be applied in a manner consistent\nwith the credit allowed under subdivision twenty of section two hundred\nten-B of this chapter except as may be necessary to take into account\ndifferences between the general corporation tax and the unincorporated\nbusiness tax.\n (c) Empire state commercial production credit. Any city in this state\nhaving a population of one million or more, acting through its local\nlegislative body, is hereby authorized to adopt and amend local laws to\nallow a credit against the general corporation tax and the\nunincorporated business tax imposed pursuant to the authority of chapter\nseven hundred seventy-two of the laws of nineteen hundred sixty-six\nwhich shall be substantially identical to the credit allowed under the\nprovisions of section twenty-eight of this chapter, except that (A) the\npercentage of qualified production costs used to calculate such credit\nshall be five percent, (B) whenever such section twenty-eight references\nthe state, such words shall be read as referencing the city, (C) such\ncredit shall be allowed only to a taxpayer that is a qualified\ncommercial production company, and (D) the effective date of such credit\nshall be as provided in local laws. Such credit shall be applied in a\nmanner consistent with the credit allowed under subdivision twenty-three\nof section two hundred ten-B of this chapter except as may be necessary\nto take into account differences between the general corporation tax and\nunincorporated business tax.\n (d) Biotechnology credit. 1. Any city in this state having a\npopulation of one million or more, acting through its local legislative\nbody, is hereby authorized to adopt and amend local laws to allow a\ncredit against the general corporation tax and the unincorporated\nbusiness tax imposed pursuant to the authority of chapter seven hundred\nseventy-two of the laws of nineteen hundred sixty-six which shall be\nsubstantially identical to the credit described in subdivision\ntwenty-one of section 11-654 of the administrative code of the city of\nNew York, against the business corporation tax imposed pursuant to\nchapter sixty of the la
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