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Tax Incentives – New York Lawmakers Propose Bill to Boost Farmer Tax Credit

Bipartisan Effort Aims to Bridge Housing Gap for New York Farm Workers

Bipartisan Bill in New York State Seeks to Expand Tax Credit for Farm Worker Housing

ALBANY, N.Y. (NEWS10) – A new bipartisan bill, championed by Republican Senator Jim Tedisco and Democratic Assembly member Marianne Buttenschon, is making waves in New York State. The proposed legislation aims to expand the existing investment Tax Incentives for farmers, now including the cost of building housing for farm workers. This move has garnered support from the New York Farm Bureau, as it addresses a crucial gap in the current program which excludes farm housing from eligible expenses.

Jeff Williams, the Director of Public Policy for the New York Farm Bureau, highlighted the disparity noting that while barns for chickens qualify for the tax credit, decent housing for farm employees does not. Governor Hochul has emphasized the pressing need for more housing in New York, proposing the construction of 15,000 units on state property. Senator Tedisco sees this bill as part of a broader strategy to tackle the housing crisis, stressing the importance of a comprehensive approach.

READ ALSO: Child Care Tax Credit Bill Progresses – House Takes A Leap Forward!

Legislation Offers Economic Boost Amidst Farm Losses and Housing Concerns

Advocates argue that the legislation not only benefits farmers but also contributes to the states economy. With nearly 3,000 farms lost in the last five years the refundable investment tax credit provides a much needed boost to farm operations. Senator Tedisco is optimistic about bipartisan support for the bill urging swift passage to address the housing concerns impacting New York State.

READ ALSO: Tax Refund Triumph: Florida Leads WKRG Coverage Area In Generous Returns

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