Establishes a sustainable aviation fuel tax credit and eligibility criteria for such tax credit.

The bill establishes a sustainable aviation fuel tax credit in New York state. To be eligible, the fuel must achieve at least a fifty percent lifecycle greenhouse gas emissions reduction compared to petroleum-based jet fuel. The credit is available to taxpayers who have been issued a certificate of tax credit by the New York state energy research and development authority. The credit amount is determined by the reduction in carbon dioxide equivalent emissions, with a maximum of two dollars per gallon.

Establishes a sustainable aviation fuel tax credit and eligibility criteria for such tax credit.

The bill establishes a sustainable aviation fuel tax credit in New York state. To be eligible, the fuel must achieve at least a fifty percent lifecycle greenhouse gas emissions reduction compared to petroleum-based jet fuel. The credit is available to taxpayers who have been issued a certificate of tax credit by the New York state energy research and development authority. The credit amount is determined by the reduction in carbon dioxide equivalent emissions, with a maximum of two dollars per gallon.