Section 49 - [Multiple versions] 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).Added by New York Laws 2024, ch. 56,Sec. AAA-3, eff. 4/20/2024, op. to tax years beginning on or after 1/1/2025 and ending before 1/1/2028.