BILL NUMBER: S9903
SPONSOR: MATTERA
 
TITLE OF BILL:
An act to amend the public service law and the tax law, in relation to
enacting the credit for rural energy infrastructure act of 2025
 
PURPOSE:
This bill would allow taxpayers to receive credit for investments made
in gas infrastructure in underserved areas
 
SUMMARY OF PROVISIONS:
Section 1: This act shall be known and may be cited as the "credit for
rural energy infrastructure act of 2025".
Section 2: Section 5 of the public service law is amended by adding a
new subdivision 7 to read as follows:
Section 3: Section 210-B of the tax law is amended by adding a new
subdivision 61 to read as follows:
Section 4:Section 606 of the tax law is amended by adding a new
subsection 28 (qqq) to read as follows:
Section 5: Subparagraph (B) of paragraph 1 of subsection (i) of section
606 13 of the tax law is amended by adding a new clause (iii) to read as
14 follows:
Section 6: Effective Date
 
JUSTIFICATION:
Many New Yorkers live in areas where natural gas service is unavailable,
forcing them to rely on heating fuels that produce greater CO2 emissions
than natural gas. This bill would allow taxpayers to receive credit for
investments made in gas infrastructure in underserved areas, enabling
them to build out more infrastructure and provide cleaner energy service
across the state.
 
LEGISLATIVE HISTORY:
New Bill.
 
FISCAL IMPLICATIONS:
To be determined.
 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to taxable 19
years beginning on or after January 1, 2025.

Statutes affected:
S9903: 5 public service law, 210-B tax law, 606 tax law, 606(i) tax law