Bill > A00161

This bill establishes a forestry stewardship and habitat conservation credit for personal income and business franchise taxes. The key provisions are: 1. Taxpayers who own land committed to forestry stewardship or habitat conservation through an agreement with the Department of Environmental Conservation are allowed a credit for 25% of the real property taxes paid on such land, up to $10,000 per year. 2. The land must be at least 25 contiguous acres and determined to be valuable habitat or suitable for fish/wildlife-related recreation. 3. The agreement with the Department must be for a minimum of 5 years and include requirements for either a forest certification program or a habitat conservation plan. 4. The credit can be claimed in addition to other real property tax credits, but the total credits cannot exceed the total taxes paid. 5. Any unused credit amount can be treated as an overpayment and refunded, but no interest will be paid. This credit is intended to incentivize private landowners to maintain forested lands and conserve wildlife habitats across New York State.