Economic Transformation and Facility Redevelopment Program Tax Credit: Beginning 2022

Tax Law section 35(d) requires the Tax Department to produce an Economic Transformation and Facility Redevelopment (ETFR) Program Credit Report by July 31 of each year. The program is designed to mitigate the economic consequences in certain communities where the following types of facilities closed:
• Correctional facilities operated by the Department of Corrections and Community Supervision (DCCS)
• Facilities operated by the Office of Children and Family Services (OCFS), and
• Psychiatric facility previously owned by New York State and operated under the Mental Hygiene Law located in the Metropolitan Commuter Transportation District (but outside of New York City)

The program is administered by Empire State Development (ESD) and offers a refundable tax credit with four components to redevelop closed facilities and attract new businesses to the surrounding areas. Taxpayers may claim credit for five consecutive years. The components of the credit are:
• ETFR Jobs Tax Credit Component
• ETFR Investment Tax Credit Component
• ETFR Job Training Tax Credit Component
• ETFR Real Property Tax Credit Component

《税法》第三十五条(d)款规定，税务部门须于每年7月31日前编制一份经济转型与设施重建（ETFR）计划信用报告。该计划旨在缓解特定社区因以下类型设施关闭而引发的经济影响：
• 由矫正与社区监督部（DCCS）运营的矫正设施
• 由儿童和家庭服务办公室（OCFS）运营的设施，以及
• 位于大都市通勤交通区（但不在纽约市范围内）且曾由纽约州拥有并依据心理健康法运营的精神病院。
该计划由帝国州发展局（ESD）负责管理，提供包含四个组成部分的可退还税收抵免，以重建关闭的设施并吸引周边地区的新企业。纳税人可在连续五年内申报信用。信用组成部分包括：
• ETFR就业税收抵免组成部分
• ETFR投资税收抵免组成部分
• ETFR职业培训税收抵免组成部分
• ETFR不动产税收抵免组成部分