Establishes a tax credit for homeowners and businesses to build permeable surfaces.
Summary
A04955 would create a new personal and business tax credit for the construction of permeable surfaces in New York. Homeowners could claim a credit equal to up to 50 percent of construction costs, capped at $5,000, for installing permeable paving as part of their real property. Eligible surfaces include items such as sidewalks, driveways, and parking lots, so long as they are designed to allow the movement of water and air through the paving materials.
The bill also extends the credit to businesses that build a permeable surface adjacent to or within 1,000 feet of their property. To qualify, a business must have its principal place of business in New York and must have been located in the state for the prior 36 months. The measure applies to taxable years beginning on or after its effective date, and it would take effect immediately upon enactment.
Impact
The bill would amend section 606 of the Tax Law by adding a new refundable or nonrefundable credit provision for qualifying homeowners and businesses that install permeable paving. It would create a new state tax incentive tied to stormwater-friendly infrastructure and green building practices, potentially reducing tax liability for eligible taxpayers while encouraging private investment in surfaces that improve water infiltration and air movement. The affected parties are New York resident homeowners and in-state businesses meeting the bill’s residency and location requirements.
Sentiment
No committee transcript or vote history is available, so there is no recorded debate or formal vote sentiment to assess. Based on the bill’s structure and caption, the measure appears generally pro-environment and pro-property-improvement, with an emphasis on incentivizing sustainable construction. The absence of recorded opposition or amendments in the provided materials means the overall sentiment cannot be measured beyond the bill’s stated policy goals.
Contention
The main potential points of contention are the fiscal cost of the tax credit, the $5,000 cap per taxpayer, and the eligibility restrictions that limit benefits to New York residents and businesses with a prior in-state presence. Another possible issue is whether the credit would meaningfully drive adoption of permeable surfaces or primarily subsidize projects that would have been built anyway. No specific objections, supporters, or negotiated compromises are documented in the provided record.
Establishes the build up New York pilot program to provide grants to eligible municipalities that construct new accessory dwelling unit housing projects built on top of existing buildings that utilize mass timber and serve certain households; establishes the mass timber for affordable housing program to provide tax credits for eligible taxpayers who use mass timber in certain new construction or major retrofits of existing buildings that primarily serve households up to one hundred fifty percent of the area median income; establishes tax credits for mass timber production.
Establishes the build up New York pilot program to provide grants to eligible municipalities that construct new accessory dwelling unit housing projects built on top of existing buildings that utilize mass timber and serve certain households; establishes the mass timber for affordable housing program to provide tax credits for eligible taxpayers who use mass timber in certain new construction or major retrofits of existing buildings that primarily serve households up to one hundred fifty percent of the area median income; establishes tax credits for mass timber production.
Establishes State purchasing preference for pervious pavement material; provides CBT tax credit to certain taxpayers that purchase pervious pavement material for municipal, county, or State construction or improvement projects.
Relates to permits granted in coastal erosion hazard areas; provides that as a condition of any permit issued in a coastal erosion hazard area, the department of environmental conservation shall require green infrastructure to help reduce stormwater runoff and mitigate coastal erosion.