NY A10179

Authorizes the superintendent of financial services to certify insurance policies that qualify for a tax credit under Labor Law sections 240 and 241, covering third-party bodily injury and property damage claims from construction site elevation risks.

Establishes a tax credit equal to the lesser of $10,000 or 25 percent of qualifying insurance premiums paid for coverage approved by the superintendent of financial services.

Limits the credit to contractors performing building construction, demolition, repair, alteration, painting, cleaning, or pointing work who obtain a certificate of completion from an approved work and job site safety training program covering fall protection.

Applies the credit against New York State taxes under Article 9 (section 187-s), Article 9-A (section 210-B, subdivision 61), and Article 22 (section 606, subdivision (qqq)), with excess credits treated as tax overpayments refundable without interest.

Takes effect 180 days after becoming law.