§ 48. Child care creation and expansion tax credit. (a) Allowance of
credit. 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,
pursuant to the provisions referenced in subdivision (f) of this
section. The amount of the credit is equal to the amount determined
pursuant to section three hundred ninety-four-d of the social services
law and shall be claimed in the taxable year that includes the last day
of the service year for which the credit is calculated. No cost or
expense paid or incurred by the taxpayer that is included as part of the
calculation of this credit shall be the basis of any other tax credit
allowed under this chapter.

(b) Eligibility. To be eligible for the child care creation and
expansion tax credit, the taxpayer shall have been issued a certificate
of tax credit by the office of children and family services pursuant to
section three hundred ninety-four-c of the social services law. A
taxpayer that is a partner in a partnership, member of a limited
liability company or shareholder in a subchapter S corporation that has
received a certificate of tax credit shall be allowed its pro rata share
of the credit earned by the partnership, limited liability company or
subchapter S corporation.

(c) Tax return requirement. The taxpayer shall be required to attach
to its tax return in the form prescribed by the commissioner, proof of
receipt of its certificate of tax credit issued by the commissioner of
the office of children and family services.

(d) Information sharing. Notwithstanding any provision of this
chapter, employees of the office of children and family services and the
department shall be allowed and are directed to share and exchange:

(1) information regarding the credit applied for, allowed or claimed
pursuant to this section and taxpayers that are applying for the credit
or that are claiming the credit; and

(2) information contained in or derived from credit claim forms
submitted to the department. Except as provided in paragraph one of this
subdivision, all information exchanged between the office of children
and family services and the department shall not be subject to
disclosure or inspection under the state's freedom of information law.

(e) Credit recapture. If a certificate of tax credit issued by the
office of children and family services under title one-A of article six
of the social services law is revoked by such office, the amount of
credit described in this section and claimed by the taxpayer prior to
that revocation shall be added back to tax in the taxable year in which
any such revocation becomes final.

(f) 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 59;

(2) article 22: section 606, subsection (ooo);

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