Bill > A00286

This bill establishes a tax credit for historic wood window rehabilitation and energy retrofits in New York State, allowing taxpayers to claim a 25% credit for qualified expenditures made within the five years preceding the tax credit application. The credit applies to wood windows that are at least 50 years old and must be evaluated and approved by the state historic preservation office. Energy efficiency upgrades include repairs like reglazing, weatherstripping, and installing storm windows while maintaining the window's historic integrity. The total annual tax credit allocation is limited to $200,000, with individual property owners (residential or commercial) capped at $50,000 per fiscal year. Credits will be awarded on a first-come, first-served basis. For taxpayers with a New York adjusted gross income of $60,000 or less, any excess credit will be refunded, while those earning more can carry the excess credit forward to future tax years. This legislation aims to incentivize the preservation and energy-efficient restoration of historic wood windows, promoting both cultural heritage and energy conservation.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A286