Establishes the historic preservation tax credit transfer program to incentivize businesses rehabilitating historic properties for affordable housing.

New York A02711 creates the historic preservation tax credit transfer program. It allows businesses to transfer tax credits for rehabilitating historic properties to promote affordable housing. Credits can be transferred to eligible entities, including those with regulatory agreements for affordable housing. The program aims to provide flexibility and incentives for businesses. The commissioner of parks, recreation, and historic preservation oversees the program, including issuing transfer approval certificates and reporting on credit claims.

Establishes the historic preservation tax credit transfer program to incentivize businesses rehabilitating historic properties for affordable housing.

New York A02711 creates the historic preservation tax credit transfer program. It allows businesses to transfer tax credits for rehabilitating historic properties to promote affordable housing. Credits can be transferred to eligible entities, including those with regulatory agreements for affordable housing. The program aims to provide flexibility and incentives for businesses. The commissioner of parks, recreation, and historic preservation oversees the program, including issuing transfer approval certificates and reporting on credit claims.