§ 187-e. Credit for transportation improvement contributions. 1.\nAllowance of credit. A taxpayer shall be allowed a credit, to be\ncomputed as provided in section twenty of this chapter, against the\ntaxes imposed by sections one hundred eighty-three, one hundred\neighty-four and former section one hundred eighty-six of this article.\nProvided, however, that the amount of such credit allowable against the\ntax imposed by section one hundred eighty-four of this article shall be\nthe excess of the amount of such credit over the amount of any credit\nallowed by this section against the tax imposed by section one hundred\neighty-three of this article.\n 2. Application of credit. In no event shall the credit under this\nsection be allowed in an amount which will reduce the tax payable to\nless than the applicable minimum tax fixed by section one hundred\neighty-three or former section one hundred eighty-six of this article.\nIf, however, the amount of credit allowable under this section for any\ntaxable year reduces the tax to such amount, any amount of credit not\nthus deductible in such taxable year shall be treated as an overpayment\nof tax to be credited or refunded in accordance with the provisions of\nsection ten hundred eighty-six of this chapter. Provided, however, the\nprovisions of subsection (c) of section ten hundred eighty-eight of this\nchapter notwithstanding, no interest shall be paid thereon.\n 3. Credit recapture. For provisions requiring recapture of credit, see\nsubdivision (c) of section twenty of this chapter.\n
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