§ 475-a. Additional restaurant return-to-work tax credit. 1. A business entity in the restaurant return-to-work tax credit program that applies for the additional restaurant return-to-work credit pursuant to section four hundred seventy-four of this article may be eligible to claim a credit equal to five thousand dollars per each full-time equivalent net employee increase above ten, not to exceed twenty, as defined in subdivision eight of section four hundred seventy-two of this article. The amount of the business entity's additional restaurant return-to-work tax credit shall be calculated by using the date the business entity chose to calculate its average ending full-time employment as described in subdivision three of section four hundred seventy-two of this article. Provided, however, that in calculating the full-time equivalent net employee increase above ten, the jobs must continue to exist as of March thirty-first, two thousand twenty-two. A business entity in the restaurant return-to-work program that ceased operations on or before March thirty-first, two thousand twenty-two, is not eligible for the credit provided by this section.

2. A business entity, including a partnership, limited liability company and subchapter S corporation, may not receive in excess of fifty thousand dollars in tax credits under this program.

3. The credit shall be allowed as provided in section forty-six-a, subdivision fifty-six-a of section two hundred ten-B and subsection (nnn) of § 606 of the tax law.