Authorizes the trading of existing but unused research and development credits and existing but unused net operating loss deductions to existing corporations and partnerships in return for private assistance; enacts the "Small New York Based High-Technology Business Investment Tax Credit Act".

This bill allows companies in New York to trade their unused research and development tax credits and net operating loss deductions for private investment help. It aims to support small high-tech businesses in the state by providing them with more financial resources to grow. The legislation is named the 'Small New York Based High-Technology Business Investment Tax Credit Act.'

Supporters would argue that this bill encourages innovation and growth among small high-tech businesses in New York, helping them access vital funding that can lead to job creation and economic development. They would highlight the potential for increased collaboration between private investors and local businesses, fostering a thriving tech ecosystem in the state.

Critics may contend that this bill could disproportionately benefit larger corporations and investors at the expense of smaller startups that need support. They might also raise concerns about the potential for misuse of tax credits and deductions, arguing that the legislation does not adequately ensure accountability or transparency in how these resources are traded.