Bill > S01826

This bill creates a new tax credit for New York state taxpayers who purchase and install water purification or filtration systems in their residences or businesses located within the state. Specifically, taxpayers can claim a $500 tax credit for each residence or business where they install a new water treatment system. The bill defines a "water purification or filtration system" as a system that removes water impurities through physical, chemical, or biological processes, and which must be installed by a professional. The tax credit is designed to incentivize the installation of water treatment technologies that can improve water quality for homeowners and businesses. The bill will take effect on January 1, 2025, and will apply to taxable years beginning on or after that date, allowing taxpayers to receive a financial benefit for investing in water quality improvement technologies.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S1826