A10666 Summary:
| BILL NO | A10666A |
| SAME AS | No same as |
| SPONSOR | Rules (Braunstein) |
| COSPNSR | Meng, Weprin, Simanowitz, DenDekker, Nolan, Miller M |
| MLTSPNSR | |
| Amd S467-a, RPT L; amd S11-1706, NYC Ad Cd | |
| Relates to a partial abatement of real property taxes for condos and co-ops, in a city having a population of one million or more. | |
A10666 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 10666--A IN ASSEMBLY June 13, 2012 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Braunstein, Meng, Weprin, Simanowitz, DenDekker) -- read once and referred to the Committee on Real Property Taxation -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT to amend the real property tax law, in relation to a partial abatement of real property taxes for condominiums and cooperatives, in a city having a population of one million or more, and to amend the administrative code of the city of New York, in relation to certain tax credits The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (a) of subdivision 1 of section 467-a of the real 2 property tax law, as added by chapter 273 of the laws of 1996, is 3 amended to read as follows: 4 (a) "Applicant" means the board of managers of a condominium or the 5 board of directors of a cooperative apartment corporation, provided 6 that, in addition, the commissioner of finance may by rule designate the 7 owner of a dwelling unit as an applicant. 8 § 2. Paragraphs (a) and (b) of subdivision 2 of section 467-a of the 9 real property tax law, as added by chapter 273 of the laws of 1996, are 10 amended to read as follows: 11 (a) In a city having a population of one million or more, dwelling 12 units owned by unit owners who, as of the applicable taxable status 13 date, own no more than three dwelling units in any one property held in 14 the condominium form of ownership, shall be eligible to receive a 15 partial abatement of real property taxes, as set forth in paragraphs (c) 16 [and], (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi- 17 sion; provided, however, that a property held in the condominium form of 18 ownership that is receiving complete or partial real property tax 19 exemption or tax abatement pursuant to any other provision of this chap- 20 ter or any other state or local law, except as provided in paragraph (f) 21 of this subdivision, shall not be eligible to receive a partial abate- 22 ment pursuant to this section; and provided, further, that sponsors EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD16216-02-2A. 10666--A 2 1 shall not be eligible to receive a partial abatement pursuant to this 2 section; and provided, further, that in any fiscal year commencing in 3 calendar year two thousand thirteen or later, no more than a maximum of 4 three dwelling units owned by any unit owner, one of which must be the 5 primary residence of such unit owner, shall be eligible to receive a 6 partial abatement pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4) 7 of this section. 8 (b) In a city having a population of one million or more, dwelling 9 units owned by tenant-stockholders who, as of the applicable taxable 10 status date, own no more than three dwelling units in any one property 11 held in the cooperative form of ownership, shall be eligible to receive 12 a partial abatement of real property taxes, as set forth in paragraphs 13 (c) [and], (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this 14 subdivision; provided, however, that a property held in the cooperative 15 form of ownership that is receiving complete or partial real property 16 tax exemption or tax abatement pursuant to any other provision of this 17 chapter or any other state or local law, except as provided in paragraph 18 (f) of this subdivision, shall not be eligible to receive a partial 19 abatement pursuant to this section; and provided, further, that sponsors 20 shall not be eligible to receive a partial abatement pursuant to this 21 section; and provided, further, that in any fiscal year commencing in 22 calendar year two thousand thirteen or later, no more than a maximum of 23 three dwelling units owned by any tenant-stockholder, one of which must 24 be the primary residence of such tenant-stockholder, shall be eligible 25 to receive a partial abatement pursuant to paragraphs (d-1), (d-2), 26 (d-3) and (d-4) of this section. For purposes of this section, a 27 tenant-stockholder of a cooperative apartment corporation shall be 28 deemed to own the dwelling unit which is represented by his or her 29 shares of stock in such corporation. Any abatement so granted shall be 30 credited by the appropriate taxing authority against the tax due on the 31 property as a whole. The reduction in real property taxes received 32 thereby shall be credited by the cooperative apartment corporation 33 against the amount of such taxes attributable to eligible dwelling units 34 at the time of receipt. 35 § 3. Paragraphs (c) and (d) of subdivision 2 of section 467-a of the 36 real property tax law, as amended by chapter 97 of the laws of 2004, 37 subparagraph (xii) of paragraph (c) and subparagraph (xii) of paragraph 38 (d) as amended and subparagraphs (xiii), (xiv), (xv) and (xvi) of para- 39 graph (c) and subparagraphs (xiii), (xiv), (xv) and (xvi) of paragraph 40 (d) as added by chapter 109 of the laws of 2008, are amended to read as 41 follows: 42 (c) [Eligible] In any fiscal year commencing in calendar year nineteen 43 hundred ninety-six through calendar year two thousand twelve, eligible 44 dwelling units in property whose average unit assessed value is less 45 than or equal to fifteen thousand dollars shall receive a partial abate- 46 ment of the real property taxes attributable to or due on such dwelling 47 units, as follows: 48 (i) not to exceed four percent in the fiscal year commencing in calen- 49 dar year nineteen hundred ninety-six; 50 (ii) sixteen percent in the fiscal year commencing in calendar year 51 nineteen hundred ninety-seven; 52 (iii) twenty-five percent in the fiscal year commencing in calendar 53 year nineteen hundred ninety-eight; 54 (iv) twenty-five percent in the fiscal year commencing in calendar 55 year nineteen hundred ninety-nine;A. 10666--A 3 1 (v) twenty-five percent in the fiscal year commencing in calendar year 2 two thousand; 3 (vi) twenty-five percent in the fiscal year commencing in calendar 4 year two thousand one; 5 (vii) twenty-five percent in the fiscal year commencing in calendar 6 year two thousand two; 7 (viii) twenty-five percent in the fiscal year commencing in calendar 8 year two thousand three; 9 (ix) twenty-five percent in the fiscal year commencing in calendar 10 year two thousand four; 11 (x) twenty-five percent in the fiscal year commencing in calendar year 12 two thousand five; 13 (xi) twenty-five percent in the fiscal year commencing in calendar 14 year two thousand six; 15 (xii) twenty-five percent in the fiscal year commencing in calendar 16 year two thousand seven; 17 (xiii) twenty-five percent in the fiscal year commencing in calendar 18 year two thousand eight; 19 (xiv) twenty-five percent in the fiscal year commencing in calendar 20 year two thousand nine; 21 (xv) twenty-five percent in the fiscal year commencing in calendar 22 year two thousand ten; 23 (xvi) twenty-five percent in the fiscal year commencing in calendar 24 year two thousand eleven; 25 (xvii) twenty-five percent in the fiscal year commencing in calendar 26 year two thousand twelve. 27 (d) [Eligible] In any fiscal year commencing in calendar year nineteen 28 hundred ninety-six through calendar year two thousand twelve, eligible 29 dwelling units in property whose average unit assessed value is greater 30 than fifteen thousand dollars shall receive a partial abatement of the 31 real property taxes attributable to or due on such dwelling units, as 32 follows: 33 (i) not to exceed two and three-quarters percent in the fiscal year 34 commencing in calendar year nineteen hundred ninety-six; 35 (ii) ten and three-quarters percent in the fiscal year commencing in 36 calendar year nineteen hundred ninety-seven; 37 (iii) seventeen and one-half percent in the fiscal year commencing in 38 calendar year nineteen hundred ninety-eight; 39 (iv) seventeen and one-half percent in the fiscal year commencing in 40 calendar year nineteen hundred ninety-nine; 41 (v) seventeen and one-half percent in the fiscal year commencing in 42 calendar year two thousand; 43 (vi) seventeen and one-half percent in the fiscal year commencing in 44 calendar year two thousand one; 45 (vii) seventeen and one-half percent in the fiscal year commencing in 46 calendar year two thousand two; 47 (viii) seventeen and one-half percent in the fiscal year commencing in 48 calendar year two thousand three; 49 (ix) seventeen and one-half percent in the fiscal year commencing in 50 calendar year two thousand four; 51 (x) seventeen and one-half percent in the fiscal year commencing in 52 calendar year two thousand five; 53 (xi) seventeen and one-half percent in the fiscal year commencing in 54 calendar year two thousand six; 55 (xii) seventeen and one-half percent in the fiscal year commencing in 56 calendar year two thousand seven;A. 10666--A 4 1 (xiii) seventeen and one-half percent in the fiscal year commencing in 2 calendar year two thousand eight; 3 (xiv) seventeen and one-half percent in the fiscal year commencing in 4 calendar year two thousand nine; 5 (xv) seventeen and one-half percent in the fiscal year commencing in 6 calendar year two thousand ten; 7 (xvi) seventeen and one-half percent in the fiscal year commencing in 8 calendar year two thousand eleven; 9 (xvii) seventeen and one-half percent in the fiscal year commencing in 10 calendar year two thousand twelve. 11 § 4. Subdivision 2 of section 467-a of the real property tax law is 12 amended by adding six new paragraphs (d-1), (d-2), (d-3), (d-4), (d-5) 13 and (d-6) to read as follows: 14 (d-1) In the fiscal years commencing in calendar year two thousand 15 thirteen, two thousand fourteen and two thousand fifteen, eligible 16 dwelling units in property whose average unit assessed value is less 17 than or equal to fifty thousand dollars shall receive a partial abate- 18 ment of the real property taxes attributable to or due on such dwelling 19 units of twenty-five percent, twenty-six and one-half percent and twen- 20 ty-eight and one-tenth percent respectively. 21 (d-2) In the fiscal years commencing in calendar year two thousand 22 thirteen, two thousand fourteen and two thousand fifteen, eligible 23 dwelling units in property whose average unit assessed value is more 24 than fifty thousand dollars, but less than or equal to fifty-five thou- 25 sand dollars, shall receive a partial abatement of the real property 26 taxes attributable to or due on such dwelling units of twenty-two and 27 one-half percent, twenty-three and eight-tenths percent and twenty-five 28 and two-tenths percent respectively. 29 (d-3) In the fiscal years commencing in calendar year two thousand 30 thirteen, two thousand fourteen and two thousand fifteen, eligible 31 dwelling units in property whose average unit assessed value is more 32 than fifty-five thousand dollars, but less than or equal to sixty thou- 33 sand dollars, shall receive a partial abatement of the real property 34 taxes attributable to or due on such dwelling units of twenty percent, 35 twenty-one and two-tenths percent, and twenty-two and five-tenths 36 percent respectively. 37 (d-4) In the fiscal years commencing in calendar year two thousand 38 thirteen, two thousand fourteen and two thousand fifteen, eligible 39 dwelling units in property whose average unit assessed value is more 40 than sixty thousand dollars shall receive a partial abatement of the 41 real property taxes attributable to or due on such dwelling units of 42 seventeen and one-half percent. 43 (d-5) In the fiscal years commencing in calendar year two thousand 44 thirteen and two thousand fourteen, dwelling units that received an 45 abatement pursuant to this section in fiscal year two thousand twelve, 46 which are located in a property that (1) does not contain a unit that is 47 the primary residence of the owner of such units; and (2) has an average 48 unit assessed value that is less than or equal to fifteen thousand 49 dollars shall receive a partial abatement of the real property taxes 50 attributable to or due on such dwelling units of twelve and one half 51 percent, and six and twenty-five hundredths percent respectively. 52 (d-6) In the fiscal years commencing in calendar year two thousand 53 thirteen and two thousand fourteen, dwelling units that received an 54 abatement pursuant to this section in fiscal year two thousand twelve, 55 which are located in a property that (1) does not contain a unit that is 56 the primary residence of the owner of such units; and (2) has an averageA. 10666--A 5 1 unit assessed value that is greater than fifteen thousand dollars shall 2 receive a partial abatement of the real property taxes attributable to 3 or due on such dwelling units of eight and seventy-five hundredths 4 percent, and four and three hundred seventy-five thousandths percent 5 respectively. 6 § 5. Paragraph (e) of subdivision 2 of section 467-a of the real prop- 7 erty tax law, as added by chapter 273 of the laws of 1996, is amended to 8 read as follows: 9 (e) Partial abatement pursuant to paragraphs (c) [and], (d), (d-1), 10 (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivision shall be 11 computed on the net real property taxes attributable to or due on eligi- 12 ble dwelling units after deduction for any exemption on such dwelling 13 units received pursuant to any section listed in paragraph (f) of this 14 subdivision and after deduction of the portion of any abatement received 15 pursuant to section four hundred eighty-nine of this article that is 16 attributable to a dwelling unit in property held in the cooperative form 17 of ownership and after deduction of any abatement received pursuant to 18 section four hundred eighty-nine of this article by a dwelling unit in 19 property held in the condominium form of ownership. 20 § 6. Paragraphs (a), (b) and (c) of subdivision 3 of section 467-a of 21 the real property tax law, paragraphs (a) and (c) as amended by chapter 22 109 of the laws of 2008 and paragraph (b) as added by chapter 273 of the 23 laws of 1996, are amended to read as follows: 24 (a) An application for an abatement pursuant to this section for the 25 fiscal year commencing in calendar year nineteen hundred ninety-six 26 shall be made no later than the fifteenth day of September, nineteen 27 hundred ninety-six. An application for an abatement pursuant to this 28 section for the fiscal year commencing in calendar year nineteen hundred 29 ninety-seven shall be made no later than the first day of April, nine- 30 teen hundred ninety-seven. An application for an abatement pursuant to 31 this section for the fiscal year commencing in calendar year nineteen 32 hundred ninety-eight shall be made no later than the first day of April, 33 nineteen hundred ninety-eight. An application for an abatement pursuant 34 to this section for the fiscal year commencing in calendar year nineteen 35 hundred ninety-nine shall be made in accordance with this subdivision 36 and subdivision three-a of this section. An application for an abatement 37 pursuant to this section for the fiscal year commencing in calendar year 38 two thousand shall be made no later than the fifteenth day of February, 39 two thousand. An application for an abatement pursuant to this section 40 for the fiscal year commencing in calendar year two thousand one shall 41 be made in accordance with this subdivision and subdivision three-b of 42 this section. An application for an abatement pursuant to this section 43 for the fiscal year commencing in calendar year two thousand two shall 44 be made no later than the fifteenth day of February, two thousand two. 45 An application for an abatement pursuant to this section for the fiscal 46 year commencing in calendar year two thousand three shall be made no 47 later than the fifteenth day of February, two thousand three. An appli- 48 cation for an abatement pursuant to this section for the fiscal year 49 commencing in calendar year two thousand four shall be made in accord- 50 ance with this subdivision and subdivision three-c of this section. An 51 application for an abatement pursuant to this section for the fiscal 52 year commencing in calendar year two thousand five shall be made no 53 later than the fifteenth day of February, two thousand five. An applica- 54 tion for an abatement pursuant to this section for the fiscal year 55 commencing in calendar year two thousand six shall be made no later than 56 the fifteenth day of February, two thousand six. An application for anA. 10666--A 6 1 abatement pursuant to this section for the fiscal year commencing in 2 calendar year two thousand seven shall be made no later than the 3 fifteenth day of February, two thousand seven. An application for abate- 4 ment pursuant to this section for the fiscal year commencing in calendar 5 year two thousand eight shall be made in accordance with this subdivi- 6 sion and subdivision three-d of this section. An application for an 7 abatement pursuant to this section for the fiscal year commencing in 8 calendar year two thousand nine shall be made no later than the 9 fifteenth day of February, two thousand nine. An application for an 10 abatement pursuant to this section for the fiscal year commencing in 11 calendar year two thousand ten shall be made no later than the fifteenth 12 day of February, two thousand ten. An application for an abatement 13 pursuant to this section for the fiscal year commencing in calendar year 14 two thousand eleven shall be made no later than the fifteenth day of 15 February, two thousand eleven. An application for an abatement pursuant 16 to this section for the fiscal year commencing in calendar year two 17 thousand twelve shall be made in accordance with this subdivision and 18 subdivision three-e of this section. The date or dates by which applica- 19 tions for an abatement pursuant to this section shall be made for the 20 fiscal years commencing in calendar years two thousand thirteen, two 21 thousand fourteen and two thousand fifteen shall be established by the 22 commissioner of finance by rule, provided that such date or dates shall 23 not be later than the fifteenth day of February for each such calendar 24 year. 25 (b) An application for an abatement pursuant to this section shall be 26 submitted to the commissioner of finance by the board of managers of a 27 condominium or the board of directors of a cooperative apartment corpo- 28 ration, provided that the commissioner of finance may by rule require 29 the owner of a dwelling unit to submit an application to supplement 30 information contained in the application submitted by the board of 31 managers of a condominium or the board of directors of a cooperative 32 apartment corporation and may by rule apply and adjust, as appropriate, 33 any provisions of this section that relate to applications submitted by 34 such boards to applications submitted by such owners. 35 (c) No abatement pursuant to this section shall be granted unless the 36 applicant files an application for an abatement within the time periods 37 prescribed in paragraph (a) of this subdivision or subdivision three-a, 38 three-b, three-c [or], three-d or three-e of this section, provided, 39 however, that the commissioner of finance may, for good cause shown, 40 extend the time for filing an application. 41 § 7. Section 467-a of the real property tax law is amended by adding a 42 new subdivision 3-e to read as follows: 43 3-e. (a) An applicant whose property did not receive an abatement 44 pursuant to this section for the fiscal year commencing in calendar year 45 two thousand eleven shall submit an application for an abatement pursu- 46 ant to this section for the fiscal year commencing in calendar year two 47 thousand twelve no later than sixty days following the effective date of 48 the chapter of the laws of two thousand twelve that added this subdivi- 49 sion. 50 (b) The abatement for the fiscal year commencing in calendar year two 51 thousand twelve of a cooperative apartment corporation that received an 52 abatement pursuant to this section for the fiscal year commencing in 53 calendar year two thousand eleven and that submitted an information 54 return on or before February fifteenth, two thousand twelve, that 55 included an election by the board of directors of such cooperative 56 apartment corporation that such information return be deemed an applica-A. 10666--A 7 1 tion for an abatement pursuant to this section for such fiscal year, 2 shall be based on the information contained in such information return. 3 (c) The abatement for the fiscal year commencing in calendar year two 4 thousand twelve of a cooperative apartment corporation that received an 5 abatement pursuant to this section for the fiscal year commencing in 6 calendar year two thousand eleven and that submitted an information 7 return on or before February fifteenth, two thousand twelve, that did 8 not include an election by the board of directors of such cooperative 9 apartment corporation that such information return be deemed an applica- 10 tion for an abatement pursuant to this section for such fiscal year, 11 shall be based on the information contained in the application submitted 12 in two thousand eleven or on the information contained in such informa- 13 tion return, or both, provided that nothing in this paragraph shall 14 authorize or require the commissioner of finance to grant an abatement 15 with respect to a property or a dwelling unit that is not eligible as of 16 the applicable taxable status date for the fiscal year commencing in 17 calendar year two thousand twelve. 18 (d) The board of managers of a condominium that received an abatement 19 pursuant to this section for the fiscal year commencing in calendar year 20 two thousand eleven shall submit an application for an abatement pursu- 21 ant to this section for the fiscal year commencing in calendar year two 22 thousand twelve no later than sixty days following the effective date of 23 the chapter of the laws of two thousand twelve that added this subdivi- 24 sion. If such board of managers does not submit such application within 25 sixty days following the effective date of the chapter of the laws of 26 two thousand twelve that added this subdivision, then the abatement for 27 the fiscal year commencing in calendar year two thousand twelve for such 28 condominium shall be based on the information contained in the applica- 29 tion submitted in two thousand eleven, provided that nothing in this 30 paragraph shall authorize or require the commissioner of finance to 31 grant an abatement with respect to a property or a dwelling unit that is 32 not eligible as of the applicable taxable status date for the fiscal 33 year commencing in calendar year two thousand twelve. 34 § 8. Subdivision 8 of section 467-a of the real property tax law, as 35 amended by chapter 453 of the laws of 2011, is amended to read as 36 follows: 37 8. Except to the extent that the owner of a dwelling unit of a proper- 38 ty situated in a city having a population of one million or more may 39 request a redacted copy of any application or statements pertaining to 40 such dwelling unit, as provided in subdivision four of this section, the 41 information contained in applications or statements in connection there- 42 with filed with the commissioner of finance pursuant to subdivision 43 three, three-a, three-b [or], three-c, three-d or three-e of this 44 section shall not be subject to disclosure under article six of the 45 public officers law. 46 § 9. Section 11-1706 of the administrative code of the city of New 47 York is amended by adding a new subdivision (f) to read as follows: 48 (f) Credit for general corporation tax paid. (1) A city resident 49 individual, estate or trust whose city adjusted gross income includes a 50 pro rata share of income, loss and deductions described in paragraph one 51 of subsection (a) of section thirteen hundred sixty-six of the internal 52 revenue code, from one or more New York S corporations as defined in 53 subdivision one-A of section two hundred eight of the tax law, or from 54 one or more QSSSs as defined in subdivision one-B of section two hundred 55 eight of the tax law, that are exempt QSSSs by reason of clause (A) of 56 subparagraph one of paragraph (k) of subdivision nine of section twoA. 10666--A 8 1 hundred eight of the tax law, on which a tax is imposed by subchapter 2 two of chapter six of this title, shall be allowed a credit as provided 3 in paragraph two of this subdivision against the tax otherwise due under 4 sections 11-1701, 11-1703, 11-1704 and 11-1704.1 of this chapter. 5 (2)(A) Subject to the limitations set forth in subparagraphs (B) and 6 (C) of this paragraph, the credit allowed to a taxpayer for a taxable 7 year under this subdivision shall be determined as follows: 8 (i) For taxable years beginning on or after January first, two thou- 9 sand fourteen: 10 (I) If the city taxable income is thirty-five thousand dollars or 11 less, the amount of the credit shall be one hundred percent of the 12 amount determined in paragraph three of this subdivision. 13 (II) If the city taxable income is greater than thirty-five thousand 14 dollars but less than sixty thousand dollars, the amount of the credit 15 shall be a percentage of the amount determined in paragraph three of 16 this subdivision, such percentage to be determined by subtracting from 17 one hundred percent, a percentage determined by subtracting thirty-five 18 thousand dollars from city taxable income, dividing the result by twen- 19 ty-five thousand dollars and multiplying by one hundred percent. 20 (III) If the city taxable income is two hundred sixty thousand dollars 21 or greater, no credit shall be allowed. 22 (B) Notwithstanding anything to the contrary in subparagraph (A) of 23 this paragraph, the credit allowed to a taxpayer for a taxable year 24 under this subdivision shall not exceed the sum of the taxes that would 25 otherwise be imposed by sections 11-1701, 11-1703, 11-1704 and 11-1704.1 26 of this chapter on such taxpayer for such taxable year after the allow- 27 ance of any other credits allowed by subdivisions (a) and (b) of this 28 section, and subdivision (c) of this section, as added by chapter four 29 hundred eighty-one of the laws of nineteen hundred ninety-seven and 30 subsequently amended, and section 11-1721 of this chapter. 31 (C) Notwithstanding anything to the contrary in subparagraph (A) of 32 this paragraph, no credit shall be allowed for any amount of tax 33 imposed, or credit allowed, by subchapter two of chapter six of this 34 title on, or to, a combined group of corporations including a New York S 35 corporation or an exempt QSSS, except where the combined group consists 36 exclusively of one or more New York S corporations and one or more 37 exempt QSSSs of such corporations as described in paragraph one of this 38 subdivision, provided that each of the New York S corporations included 39 in the group is wholly owned by the same interests and in the same 40 proportions as each other New York S corporation included in the group. 41 (3) Subject to the provisions of subparagraph (B) of this paragraph 42 and subparagraph (C) of paragraph two of this subdivision, the amount 43 determined in this paragraph is the sum of the taxpayer's pro rata share 44 of the amounts determined in subparagraph (A) of this paragraph for each 45 New York S corporation, or exempt QSSS, described in paragraph one of 46 this subsection, a pro rata share of whose income, loss and deductions 47 described in paragraph one of subsection (a) of section thirteen hundred 48 sixty-six of the internal revenue code, is included in the taxpayer's 49 city adjusted gross income. 50 (A) The amount determined in this subparagraph is the sum of: 51 (i) the taxes imposed by subchapter two of chapter six of this title 52 on such corporation, or a combined group including such corporation, for 53 its taxable year ending within or with the taxable year of the taxpayer 54 and paid by such corporation, or combined group; and 55 (ii) the amount of any credit or credits taken by such corporation, or 56 a combined group including such corporation, under subdivision eighteenA. 10666--A 9 1 of section 11-604 of this title for its taxable year ending within or 2 with the taxable year of the taxpayer. 3 (B) For purposes of this subdivision, the taxpayer's pro rata share of 4 the amount in subparagraph (A) of this paragraph for the taxable year 5 shall be the amount determined with respect to the taxpayer: 6 (i) by assigning an equal portion of the amount in subparagraph (A) of 7 this paragraph to each day of the corporation's taxable year on which 8 the corporation has shares outstanding, 9 (ii) then by dividing that portion pro rata among the shares outstand- 10 ing on that day; provided, however, 11 (iii) if the taxable year of such corporation for purposes of chapter 12 six of this title is different from its New York S year or S short year 13 as defined in subdivision one-A of section two hundred eight of the tax 14 law, or subsection (f) of section fourteen hundred fifty of the tax law, 15 only those portions that are assigned to days of the taxable year that 16 are also days of the New York S year or S short year shall be taken into 17 account in determining the shareholder's pro rata share of the amount 18 determined in subparagraph (A) of this paragraph. 19 § 10. If any provision of section nine of this act is adjudged by any 20 court of competent jurisdiction to be invalid or unconstitutional, the 21 credit provided for in such sections shall not be allowed for any tax 22 period or periods with respect to which such judgment is in effect. 23 § 11. This act shall take effect immediately.