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§  44.  Employer-provided  child  care credit. (a) General. A taxpayer
subject to tax under article nine-A, twenty-two, or thirty-three of this
chapter shall be allowed a credit against such tax in an amount equal to
two hundred percent of the portion of the credit that is allowed to  the
taxpayer  under  section  45F  of  the  internal  revenue  code  that is
attributable to (i) qualified child care expenditures paid  or  incurred
with  respect  to  a  qualified  child care facility with a situs in the
state,  and  to  (ii)  qualified  child  care  resource   and   referral
expenditures  paid  or incurred with respect to the taxpayer's employees
working in the state. The credit allowable under  this  subdivision  for
any  taxable year shall not exceed five hundred thousand dollars. If the
entity operating the qualified child care facility is a partnership or a
New York S corporation, then such cap shall be  applied  at  the  entity
level,   so  the  aggregate  credit  allowed  to  all  the  partners  or
shareholders of such entity in a  taxable  year  does  not  exceed  five
hundred thousand dollars.

(b) Credit recapture. If there is a cessation of operation or change in ownership, as defined by section 45F of the internal revenue code relating to a qualified child care facility with a situs in the state, the taxpayer shall add back the applicable recapture percentage of the credit allowed under this section in accordance with the recapture provisions of section 45F of the internal revenue code, but the recapture amount shall be limited to the credit allowed under this section.

(c) Reporting requirements. A taxpayer that has claimed a credit under this section shall notify the commissioner of any cessation of operation, change in ownership, or agreement to assume recapture liability as such terms are defined by section 45F of the internal revenue code, in the form and manner prescribed by the commissioner.

(d) Definitions. The terms "qualified child care expenditures", "qualified child care facility", "qualified child care resource and referral expenditure", "cessation of operation", "change of ownership", and "applicable recapture percentage" shall have the same meanings as in section 45F of the internal revenue code.

(e) Cross-references. For application of the credit provided for in this section, see the following provisions of this chapter:

(1) article 9-A: section 210-B, subdivision 53;

(2) article 22: section 606(i), subsections (i) and (jjj);

(3) article 33: section 1511, subdivision (dd).