Establishes a tax credit for recycling bivalve mollusk shells, directing DEC to create regulations.

The bill amends the tax law to create a tax credit for recycling bivalve mollusk shells. The credit is computed as the lesser of $1,000 or ten cents per pound of certified shells. To qualify, shells must be donated to entities permitted by the Department of Environmental Conservation for oyster reef restoration. The Department of Environmental Conservation is directed to establish rules and regulations for verifying and certifying recycled shells. The credit applies to taxable years beginning on or after January 1, 2025.

Establishes a tax credit for recycling bivalve mollusk shells, directing DEC to create regulations.

The bill amends the tax law to create a tax credit for recycling bivalve mollusk shells. The credit is computed as the lesser of $1,000 or ten cents per pound of certified shells. To qualify, shells must be donated to entities permitted by the Department of Environmental Conservation for oyster reef restoration. The Department of Environmental Conservation is directed to establish rules and regulations for verifying and certifying recycled shells. The credit applies to taxable years beginning on or after January 1, 2025.