Bill > A04030

This bill amends the tax law to allow taxpayers to receive a refund for any excess tax credit they claim for the rehabilitation of historic barns, if their New York adjusted gross income does not exceed $60,000. If their income exceeds $60,000, the excess credit can be carried over to the following year or years. The bill also clarifies that the rehabilitation credit applies to buildings used for agricultural purposes, and does not apply to barns that were previously used for residential purposes or that are converted to be suitable for residential use.