Increases the excelsior research and development tax credit

S 6866 increases the maximum Excelsior R&D tax credit for non-green projects from 6% to 20% of qualifying New York state research and development expenditures. This bill directly affects businesses participating in New York's Excelsior Jobs program that conduct R&D within the state. The key change allows eligible companies to claim a higher tax credit (up to 20%) on their New York-based R&D spending, while maintaining an 8% cap for green projects or Green CHIPS projects. The credit is calculated based on state R&D expenditures, including related wages, and applies to participants in the Excelsior program.