Bill > S01547

This bill amends New York state tax law to expand the existing biofuel production tax credit by adding biomethane as a qualifying biofuel. The bill increases the tax credit from 15 cents to 25 cents per gallon specifically for biomethane production, which is defined as biogases emitted from organic wastes breaking down in airless environments. These gases can be produced from sources like landfill gas, solid waste, municipal wastewater, agricultural manure, and other biomass through processes such as anaerobic digestion and thermal gasification. The credit applies to taxpayers in various tax categories (articles nine, nine-A, or twenty-two) and remains capped at $2.5 million per taxpayer per taxable year for up to four consecutive years per biofuel plant. The tax credit is available for taxable years beginning before January 1, 2020, and is designed to incentivize renewable fuel production in New York state by providing a financial benefit to businesses producing biomethane. The bill also makes technical changes to reference the updated section number for the biofuel production credit in various parts of the tax law.

Transportation and Infrastructure

https://www.nysenate.gov/legislation/bills/2025/S1547