NY A10366

Bill

Establishes the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program for qualified rehabilitation expenditures totaling fifty million dollars or more with respect to a certified historic structure that has been vacant, as determined by local code enforcement or other reasonable means, for at least ten of fifteen consecutive years preceding the date of the taxpayer's application for the rehabilitation credit.

Introduced
03/02/2026

In Committee
05/20/2026

Crossed Over

Passed

Dead

Introduced Session

2025-2026 General Assembly

Bill Summary

AN ACT to amend the tax law and the parks, recreation and historic preservation law, in relation to establishing the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program

AI Summary

This bill establishes new tax credits for historic rehabilitation projects, specifically creating a "large projects historic rehabilitation tax credit" and a "white elephant" housing historic rehabilitation projects tax credit program. A "white elephant project" is defined as a certified historic structure that has been vacant for at least ten out of the fifteen years preceding the application for the credit, and requires qualified rehabilitation expenditures of $50 million or more. The bill also extends the sunset date for existing historic rehabilitation tax credits from January 1, 2030, to January 1, 2037, and makes other technical amendments related to these tax credits.

Committee Categories

Budget and Finance, Business and Industry

Sponsors (14)

Pamela Hunter (D)*, Didi Barrett (D), Pat Burke (D), William Conrad (D), Dana Levenberg (D), Donna Lupardo (D), Karen McMahon (D), Jonathan Rivera (D), Angelo Santabarbara (D), Nader Sayegh (D), Maryjane Shimsky (D), Sarahana Shrestha (D), Al Stirpe (D), Carrie Woerner (D),

Last Action

print number 10366a (on 05/28/2026)

Official Document

https://www.nysenate.gov/legislation/bills/2025/A10366

(2 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.nysenate.gov/legislation/bills/2025/A10366
BillText	https://assembly.state.ny.us/leg/?default_fld=&bn=A10366&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A10366A
BillText	https://assembly.state.ny.us/leg/?default_fld=&bn=A10366&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A10366

Bill	Bill Name	Last Action	Type
A02889	Establishes the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program for qualified rehabilitation expenditures totaling fifty million dollars or more with respect to a certified historic structure that has been vacant, as determined by local code enforcement or other reasonable means, for at least ten of fifteen consecutive years preceding the date of the taxpayer's application for the rehabilitation credit.	referred to ways and means	Reintroduced
S06021	Establishes the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program for qualified rehabilitation expenditures totaling fifty million dollars or more with respect to a certified historic structure that has been vacant, as determined by local code enforcement or other reasonable means, for at least ten of fifteen consecutive years preceding the date of the taxpayer's application for the rehabilitation credit.	PRINT NUMBER 6021B	Same As

Bill > A10366

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (14)

Last Action

Official Document

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