(b) As used in section 11(a)(6)(c) of the Tax Law, a business shall be deemed predominantly engaged in professional services provided by accountants, lawyers or physicians if:

1. (1) over 40 percent of the revenues of such business for the preceding fiscal year; or
2. (2) if a new enterprise, over 40 percent of its projected revenues for its first fiscal year, taken as a whole are derived from such professional services.

(d) A qualified investment, as used in section 11(a)(9) of the Tax Law, shall not include:

1. (1) an investment in any affiliate of the certified capital company (except any follow-on investment in a qualified business that was not an affiliate of the certified capital company at the time of the first investment in said business by a certified capital company);
2. (2) any debt investment that is evidenced solely by any loan receivable or note receivable which has a stated final maturity date of less than one year from the origination date of the loan or note; or
3. (3) any equity investment which the certified capital company may require the qualified business to redeem or repurchase within one year from the date of investment.