Bill > S06099

This bill establishes a tax credit program for homeowners and businesses in New York who invest in green infrastructure, providing financial incentives for implementing environmentally friendly stormwater management solutions. Under the bill, homeowners can receive a tax credit of up to 50% of green infrastructure construction costs, not exceeding $10,000, and businesses can receive a similar credit up to $10,000, with specific eligibility requirements such as being a New York resident or having a business located in the state for a minimum period. The bill comprehensively defines "green infrastructure" to include various sustainable practices like downspout disconnection, rainwater harvesting, rain gardens, planter boxes, permeable pavements, and green roofs, which help manage stormwater runoff, reduce environmental impact, and provide community benefits. The tax credits are designed to encourage property owners to adopt these eco-friendly infrastructure approaches by offsetting a significant portion of the implementation costs, with provisions for carrying over unused credits and applying them in subsequent tax years. The bill will take effect immediately and apply to taxable years commencing on or after its enactment date.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S6099