NY A05930

Creates a new tax credit for contractors who purchase liability insurance covering construction site injuries and property damage related to elevation risks under Labor Law sections 240 and 241 (commonly known as the "Scaffold Law")

Tax credit equals the lesser of $10,000 or 25% of qualifying insurance premiums paid for personal injury liability or property damage liability coverage

Requires contractors to complete an approved safety training program that includes fall protection, proper planning, and supervision training, with certification valid for two years

Applies to contractors performing building erection, demolition, repair, alteration, painting, cleaning, or pointing work

Takes effect 180 days after becoming law, with the Superintendent of Financial Services authorized to promulgate regulations for certifying qualifying insurance policies