Section 1201-B. Additional credits against taxes administered by cities of one million or more

Any person, corporation or other entity required or  permitted to grant rebates or discounts on bills for electricity, gas or
  steam in accordance with a local law adopted pursuant to  article  two-G
  of  the  general  city  law shall be entitled to a refundable credit for
  such  rebates  and  discounts  made,  to  the  extent  such  credit   is
  specifically authorized by such article of the general city law, against
  the  amount of tax of be paid pursuant to any gross receipts tax imposed
  by a local law adopted pursuant to subdivision  (a)  of  section  twelve
  hundred  one of this chapter. Notwithstanding any other provision of law
  to the contrary, no taxpayer taking a credit as authorized herein  shall
  incur  any  increased  liability  for  any taxes imposed pursuant to the
  authorization contained in chapter seven hundred seventy-two of the laws
  of nineteen hundred sixty-six, as amended, by reason of such credit.