Bill > S00851

This bill establishes a housing infrastructure tax credit that allows taxpayers to claim up to 10 percent of costs for infrastructure projects related to new home or multiple dwelling construction. The credit applies to specific infrastructure investments such as electric lines, gas lines, sewer lines, septic systems, water lines, and wells for new construction projects started on or after January 1, 2026, and completed by December 30, 2031. The tax credit is available to taxpayers under article nine-A (business corporations), article twenty-two (personal income tax), and other tax law sections, providing a financial incentive for developers and property owners to invest in infrastructure for new residential developments. By offering this tax credit, the bill aims to encourage housing development and support the expansion of residential infrastructure across New York State during the specified time period.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S851