New York A05930 authorizes a tax credit for insurance premiums related to building construction, demolition, and repair work.

New York A05930 amends the insurance and tax laws to establish a tax credit for certain insurance premiums. This credit applies to personal injury liability insurance and property damage liability insurance for contractors performing building construction, demolition, and repair work. To qualify, contractors must obtain a certificate of completion from a safety training program approved by the commissioner. The tax credit is limited to the lesser of $10,000 or 25% of the premiums paid.

New York A05930 authorizes a tax credit for insurance premiums related to building construction, demolition, and repair work.

New York A05930 amends the insurance and tax laws to establish a tax credit for certain insurance premiums. This credit applies to personal injury liability insurance and property damage liability insurance for contractors performing building construction, demolition, and repair work. To qualify, contractors must obtain a certificate of completion from a safety training program approved by the commissioner. The tax credit is limited to the lesser of $10,000 or 25% of the premiums paid.