Provides a tax credit for utility bill payments in 2025 and 2026 and establishes a moratorium on certain surcharges until April 1, 2026.
New York S04327 amends the tax law to allow a credit for utility bill payments in taxable years 2025 and 2026, calculated based on the difference between the average monthly utility bill payment in the year the credit is claimed and the average monthly payment in the preceding three years. It also amends the public service law to establish a moratorium on certain utility bill surcharges until April 1, 2026, after which the moratorium will be repealed.
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