Bill > A04955

This bill establishes a tax credit for homeowners and businesses in New York state who construct permeable surfaces, such as sidewalks, driveways, and parking lots. For homeowners, the credit covers up to 50% of construction costs, not exceeding $5,000, and is available to New York residents who have owned a single or multi-family dwelling for the past 24 months. Similarly, businesses located in New York for at least 36 months can also receive a tax credit of up to 50% of construction costs, with the same $5,000 maximum. A permeable surface is defined as a paving material that allows water and air to move through it, which can help with drainage and reduce runoff. The bill aims to incentivize the installation of environmentally friendly infrastructure that can help manage stormwater more effectively. The tax credit would apply to taxable years starting from the date of enactment, providing an immediate financial benefit to qualifying homeowners and businesses who invest in these sustainable surface solutions.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A4955