BILL NUMBER: S23
SPONSOR: TEDISCO
 
TITLE OF BILL:
An act to amend the tax law, in relation to expanding a certain tax
credit for farmers to include the cost of construction housing for farm
workers
 
PURPOSE OR GENERAL IDEA OF BILL:
To expand a certain tax credit for farmers to include the cost of
construction of housing for farm workers.
 
SUMMARY OF PROVISIONS:
§ 1. Subparagraph (i) of paragraph (b) of subdivision 1 of section 210-B
of the tax law, as amended by section 2 of part P of chapter 59 of the
laws of 2017, is amended to connote that "For purposes of the credit
allowed by clause (i) of this subparagraph, for a tax payer that is an
eligible farmer as provided in paragraph one-a of this subsection, the
eligible cost of goods shall include the cost of standard construction
materials and labor used in construction of residential housing occupied
farm workers employed by the taxpayer to provide labor in the production
of the qualifying product produced by the taxpayer, provided such costs
satisfy the requirements of this subparagraph."
§ 2. Subparagraph (A) of paragraph 2 of subsedtion (a) of section 606 of
the tax law, as amended by section 3 of part P of chapter 59 of the laws
of 2017, is amended to add the same provision.
 
JUSTIFICATION:
While Businesses that make investments in buildings, machinery, or
equipment receive the Investment Tax Credit (ITC), the tax code is
silent on this credit being applied to buildings, machinery, and equip-
ment dedicated to the building of residential housing for farm workers.
This measure provides clarity in the law and enables farms to utilize
this credit in the construction of residential housing for farm workers,
and simultaneously addresses the housing shortage that exists in New
York State.
 
PRIOR LEGISLATIVE HISTORY:
03/13/24: S.8804 REFERRED TO BUDGET AND REVENUE
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
Minimal.
 
EFFECTIVE DATE:
This act shall take effect on the first of January next succeeding the
date upon which it shall have become a law and shall apply to tax years
commencing on and after such effective date. Effective immediately, the
addition, amendment and/or repeal of any rule or re gulation necessary
for the implementation of this act on its effective date are authorized
to be made and completed on or before such effective date.

Statutes affected:
S23: 210-B tax law, 210-B(1) tax law, 606 tax law, 606(a) tax law