§ 15. QEZE credit for real property taxes. (a) Allowance of credit. A\ntaxpayer which is a qualified empire zone enterprise (QEZE), or which is\na sole proprietor of a QEZE or a member of a partnership which is a\nQEZE, and which is subject to tax under article nine-A, twenty-two or\nthirty-three of this chapter, shall be allowed a credit against such\ntax, pursuant to the provisions referenced in subdivision (h) of this\nsection, for eligible real property taxes.\n (b) Amount of credit. (1) In the case of a business enterprise which\nis first certified under article eighteen-B of the general municipal law\nbefore April first, two thousand five, the amount of the credit shall be\nequal to the product (or pro rata share of the product, in the case of a\nmember of a partnership) of (i) the benefit period factor, (ii) the\nemployment increase factor and (iii) the eligible real property taxes\npaid or incurred by the QEZE during the taxable year. However the amount\nof the credit may not exceed the credit limitation set forth in\nsubdivision (f) of this section.\n (2) (A) For a business enterprise which is first certified under\narticle eighteen-B of the general municipal law on or after April first,\ntwo thousand five, and notwithstanding any other provision to the\ncontrary, in the case of a business enterprise which was first certified\nbetween August first, two thousand two and March thirty-first, two\nthousand five that conducts its operations on real property that it owns\nor leases that is both located within an empire zone and that is subject\nto a brownfield site cleanup agreement executed prior to January first,\ntwo thousand six in accordance with section 27-1409 of the environmental\nconservation law, the amount of the credit shall be equal to the product\n(or pro rata share of the product, in the case of a member of a\npartnership) of twenty-five percent of the total wages, health benefits\nand retirement benefits paid to or on behalf of net new employees during\nthe taxable year, provided however, that the total amount of the credit\nshall not exceed ten thousand dollars for each such employee. For\npurposes of computing total wages, health benefits and retirement\nbenefits, wages, health benefits and retirement benefits for each\nemployee in excess of forty thousand dollars shall be excluded from such\ncomputation. Provided however, the amount of the credit for a QEZE\ncertified in an empire zone designated under subdivision (b) or (c) of\nsection nine hundred fifty-eight of the general municipal law, except a\nmanufacturer certified in an empire zone designated under section nine\nhundred fifty-eight of the general municipal law, shall be further\nadjusted by the product of the amount determined above and the\ndevelopment zone employment increase factor under subparagraph (B) of\nthis paragraph. Provided further, in addition, the amount of the credit\nmay not exceed the credit amount set forth in subdivision (f-1) of this\nsection.\n (B) Development zone employment increase factor. The development zone\nemployment increase factors are set forth in the following table:\nNet New Employees: DZ Employment Increase Factor:\n1 to 10 0.25\n11 to 49 0.5\n50 to 75 0.75\n76 and above the amount, not to exceed 1.0,\n of new employees divided by 100\n Net new employees. The number of net new employees for a QEZE is equal\nto the excess of the QEZE's employment number in the empire zones with\nrespect to which the QEZE is certified pursuant to article eighteen-B of\nthe general municipal law for the taxable year, over the QEZE's\nemployment number in such zones for the base period.\n (3) For a business enterprise which is first certified under article\neighteen-B of the general municipal law on or after April first, two\nthousand nine, the credit allowed shall be seventy-fi
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