* § 49. Newspaper and broadcast media jobs tax credit. (a) Allowance
of credit. A taxpayer subject to tax under article nine-A or twenty-two
of this chapter shall be allowed a credit against such tax, pursuant to
the provisions referenced in subdivision (e) of this section. The amount
of the credit is equal to the amount determined pursuant to article
twenty-seven of the economic development law. A taxpayer that is a
partner in a partnership, member of a limited liability company or
shareholder in a subchapter S corporation shall be allowed its pro-rata
share of the credit allowed for the partnership, limited liability
company or subchapter S corporation. No cost or expense paid or incurred
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 to claim the newspaper and broadcast
media jobs tax credit the taxpayer shall have been issued a certificate
of tax credit by the department of economic development pursuant to
article twenty-seven of the economic development law, which certificate
shall set forth the amount of the credit that may be claimed for the
taxable year. The taxpayer shall be allowed to claim only the amount
listed on the certificate of tax credit for that taxable year.

(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 department of economic development.

(d) Credit recapture. If a certificate of tax credit issued by the
department of economic development under article twenty-seven of the
economic development law is revoked by such department, 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.

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

(1) article 9-A: section 210-B, subdivision 60.

(2) article 22: section 606, subsection (ppp).

* NB There are two § 49's