NY S09903

Establishes a tax credit for qualified taxpayers who make contributions toward new gas pipeline construction in unserved areas (census blocks where at least 90% of households lack gas service access).

Credit amount equals the qualified customer contribution in aid of construction, calculated using a formula based on total construction costs divided among participating customers, minus a subsidy based on average cost per mile of pipeline construction.

Allows taxpayers to claim the credit annually over a five-year period (one-fifth per year), with excess credits treated as refundable overpayments.

Defines qualified taxpayers as small business corporations under federal tax code for corporate tax purposes and individuals with adjusted gross income of $250,000 or less for personal income tax purposes.

Directs the Public Service Commission to establish rules for verifying unserved areas using gas service mapping data at the time a project is proposed, effective for taxable years beginning January 1, 2025.