Establishes a tax credit for hydroelectric power costs in New York State.

The bill introduces a tax credit for costs related to licensing or relicensing fees for hydroelectric power, applicable to taxpayers under articles nine, nine-a, twenty-two, or thirty-three of the tax law. The credit is set at fifty percent of the cost of any licensing or relicensing fees assessed by any state or federal agency. The credit can be carried over to subsequent years if it reduces the tax payable to less than the applicable minimum tax. The bill amends sections 50, 187-s, 210-B, 606, and 1511 of the tax law to include this new credit.

Establishes a tax credit for hydroelectric power costs in New York State.

The bill introduces a tax credit for costs related to licensing or relicensing fees for hydroelectric power, applicable to taxpayers under articles nine, nine-a, twenty-two, or thirty-three of the tax law. The credit is set at fifty percent of the cost of any licensing or relicensing fees assessed by any state or federal agency. The credit can be carried over to subsequent years if it reduces the tax payable to less than the applicable minimum tax. The bill amends sections 50, 187-s, 210-B, 606, and 1511 of the tax law to include this new credit.