New York § 959-B - 959-BClean energy enterprises

§ 959-B. 959-BClean energy enterprises

§ 959-b. Clean energy enterprises. (a) For purposes of this section, "clean energy enterprise" shall mean any business primarily engaged in research, development or manufacturing of renewable energy or energy efficiency technologies or products; provided, however, that an initial clean coal electric generating facility capable of capturing carbon dioxide for sequestration or capable of being retrofitted to capture carbon dioxide for sequestration shall constitute an eligible business for purposes of this section. A business is primarily engaged in research, development or manufacturing of renewable energy or energy efficiency technologies or products if eighty percent or more of its property in New York is utilized for such purposes. (b) The commissioner of economic development shall serve as the sole certification officer for businesses seeking certification as a clean energy enterprise. The commissioner of economic development, after consultation with the executive director of the New York state energy research and development authority, shall promulgate regulations governing (i) criteria of eligibility for designation of a clean energy enterprise, (ii) the application process, and (iii) the certification by the commissioner of economic development as to the eligibility of business enterprises for benefits referred to in section nine hundred sixty-six of this article. A business so certified shall be deemed to be eligible for such benefits as if such business were located in an investment zone as defined in paragraph (i) of subdivision (d) of section nine hundred fifty-seven of this article. No such certification shall be made after June thirtieth, two thousand ten. (c) Such enterprise shall be exempt from the requirements of paragraph (iii) of subdivision (a) of section nine hundred fifty-eight, sections nine hundred sixty-one, nine hundred sixty-two and nine hundred sixty-three of this article.