Bill > A07127

This bill amends the New York State tax law to expand the existing biofuel production tax credit to include biomethane, a renewable fuel produced from organic waste through anaerobic digestion or thermal gasification. The bill increases the tax credit from 15 cents to 25 cents per gallon specifically for biomethane production, and provides a comprehensive definition of biomethane as biogases emitted from sources like landfill gas, solid waste, municipal wastewater, and agricultural manure. The credit applies to taxpayers in various tax categories (articles nine, nine-A, and twenty-two) and is capped at $2.5 million per taxpayer per taxable year for up to four consecutive years per biofuel plant. The bill defines biomethane as a versatile renewable fuel that can be used in various vehicle applications and is distributed through existing infrastructure. The tax credit is applicable to taxable years beginning before January 1, 2020, and the bill takes effect immediately upon passage, allowing businesses producing biomethane to benefit from the expanded tax incentive.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A7127