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NY S08878
Bill
Status
1/13/2026
Primary Sponsor
Gustavo Rivera
Click for details
AI Summary
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Creates a refundable and transferable state tax credit equal to 65% of the fair market value of qualified food donations made to eligible 501(c)(3) nonprofit food assistance organizations
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Provides an additional 100% tax credit for documented transportation and storage expenses directly attributable to food donations
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Caps the total statewide credit at $75 million per fiscal year unless increased by appropriation, with unused credits refundable or transferable to other eligible taxpayers
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Eligible taxpayers include food businesses, farmers, manufacturers, distributors, wholesalers, retailers, and other entities engaged in food sale, manufacture, or distribution in New York
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Requires the Department of Taxation and Finance to establish an electronic reporting platform and publish annual reports on credits claimed, pounds of food diverted from waste, and estimated meals provided
Legislative Description
Enacts the "New York state food rescue tax credit act" in relation to providing a tax credit for certain businesses that donate food to eligible nonprofit food assistance organizations.
Last Action
PRINT NUMBER 8878A
3/6/2026