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NY A10578
Bill
Status
Introduced
3/13/2026
Primary Sponsor
Alicia Hyndman
Click for details
AI Summary
- Creates a 20% tax credit for small businesses converting from electric or gas to renewable energy in New York State
- Limits eligibility to businesses with no more than 19 full-time equivalent employees, including related members and affiliates
- Excludes home-based sole proprietorships, businesses certified under General Municipal Law Article 18-B, and those receiving Economic Development Law Article 6 awards
- Defines "business related renewable energy usage" as renewable power used for economic activity at the primary business location, separate from shared energy costs
- Allows excess credit amounts to be refunded as overpayments, though no interest will be paid on refunds
Legislative Description
Creates a small business grid renewable energy tax credit; provides the term "business related renewable energy usage" shall refer to renewable power usage used to further the economic activity of the taxpayer at the primary business location that is clearly delimited from any shared renewable energy power usage cost.
Last Action
referred to ways and means
3/13/2026
Committee Referrals
Ways and Means3/13/2026
Full Bill Text
No bill text available