Bill > S01178

This bill enacts the Credit for Rural Energy Infrastructure Act of 2025, which establishes a tax credit program designed to expand natural gas infrastructure in unserved rural areas. The bill allows two types of qualified taxpayers - small business corporations and individuals with an adjusted gross income of $250,000 or less - to receive tax credits for customer contributions toward new gas pipeline construction in areas where 90% or more of households lack gas service. The credit can be claimed annually over five years, with the amount calculated based on qualified construction expenses, average construction costs per mile, and the number of residents and small businesses participating. The Public Service Commission will be responsible for verifying unserved areas and helping determine reasonable construction costs. If the tax credit exceeds the taxpayer's annual tax liability, the excess will be refunded. The bill aims to incentivize and support the expansion of energy infrastructure in rural communities by providing financial assistance to both service providers and customers willing to invest in new gas pipeline networks. The tax credits will take effect for taxable years beginning on or after January 1, 2026.

Transportation and Infrastructure

https://www.nysenate.gov/legislation/bills/2025/S1178