Bill > S05181

This bill establishes a forestry stewardship and habitat conservation credit for personal income and business franchise taxes. The key provisions are: 1. Allows a tax credit for 25% of the real property taxes paid on land that is committed to forestry stewardship or habitat conservation under an agreement with the Department of Environmental Conservation for at least 5 years. 2. Creates a New York State Forestry Stewardship and Habitat Conservation Program to provide for forested lands and conserve land as wildlife, fish, shellfish, or crustacea habitat. 3. Allows landowners to apply to have their eligible tracts of at least 25 contiguous acres included in the program. 4. Authorizes the Department of Environmental Conservation to enter into agreements with landowners for forestry stewardship, habitat conservation, or both, with specific requirements. 5. Caps the credit at $10,000 per year, and allows any excess credit to be treated as an overpayment to be refunded.