Search

Each renewable energy generator of one megawatt or more may earn an income tax credit (personal or corporate) of 2.7 cents (on average) per kilowatt-hour for the first 400,000 megawatt-hours of electricity produced for ten consecutive years, beginning with the first year of production. This credit is fully refundable.

Initial investments typically range in size from $500,000 to $1.5 million. All investments by the Fund require at least a 2:1 match from private sources at the time of investment.

Biofuels production credit allows for $.15/gallon after first 40,000 gallons produced, capped at $2.5 million per entity per year per plant for up to no more than four consecutive years.

The program provides four types of tax credits: Excelsior Jobs Tax Credit: 6.85% of the gross wages paid for each net new job created in the state; Excelsior Investment Tax Credit: 2% of qualified investments; Excelsior Research and Development tax credit: 50% of the federal R&D credit, capped at 6% of research expenditures attributable to activities conducted in the state; and Excelsior Real Property Tax Credit: available to firms locating in certain distressed areas and firms in targeted industries that meet higher employment and investment thresholds (e.g., Regionally Significant Projects).

This program provides up to $500,000 of project costs, with 50% co-funding. Project funding is budgeted in advance by program topic and specific in each "Program Opportunity Notice". The program money is allocated among the chosen projects. New York State lenders provide loans with an interest rate of 4.5%. The average cost of a project being funded is up to $200,000.

Credits are equal to a percentage of certified remediation or redevelopment costs. Redevelopment credits are limited to $35 million ($45 million if used for manufacturing activities)

Applicants may request a maximum of $40,000 and must provide at least a 50% cash match.

Pollution control and abatement equipment for manufacturing is exempt from sales and use tax, but is subject to a 1% privilege tax, capped at a maximum of $80 per article. In addition, chemicals purchased by manufacturers to be used in air or stream pollution abatement equipment or processes are exempt from sales and use tax, but are subject to a 1% privilege tax, capped at a maximum of $80 per article.

This program provides an income tax credit equal to 10% per year for 5 years of costs to establish, adapt, or retrofit a facility to produce or blend at least 2% biodiesel or green diesel fuel. Any credit in excess of the current year's liability may be carried forward 5 taxable years. The credit is limited to a cumulative credit of $250,000 for all taxable years. A licensed fuel supplier who blends at least 5% biodiesel or green diesel fuel is allowed an income tax credit of 5 cents per gallon of fuel. Excess credit may be carried forward 5 taxable years. A seller of biodiesel or green diesel fuel having at least a 2% blend is allowed an income tax credit equal to 10% per year for 5 years of the seller's direct costs to adapt or add equipment to their facility to enable them to sell the biodiesel or green diesel blend.

Interest buy down of 5.0% below the note rate.