Bill > S05647

This bill establishes a tax credit for small businesses (defined as businesses with 50 or fewer employees) that invest in facility improvements designed to reduce the spread of infectious diseases. The credit allows eligible businesses to receive a tax deduction equal to the amount spent on constructing, installing, building, or equipping new amenities specifically aimed at mitigating disease transmission, with a maximum credit of $5,000 per business location. If the full credit cannot be used in a single tax year due to tax limitations, businesses can carry over the unused portion of the credit for up to three subsequent years. Importantly, businesses cannot claim this credit for expenses that have already been used to claim another tax credit. The bill amends sections of the tax law to incorporate this new credit, and it will take effect on the first day of January following its enactment. The legislation appears to be a response to the need for businesses to adapt their facilities in light of public health concerns, particularly those raised during the COVID-19 pandemic.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S5647