Establishes an agrivoltaic production tax credit for farmers using solar power and agricultural production simultaneously.

New York S05628 amends the tax law to create an agrivoltaic production tax credit for eligible farmers. This credit applies to farmers managing farm operations within qualified agrivoltaic facilities, which combine solar power generation with agricultural production. The credit is calculated based on the kilowatt hours of electricity produced, a base credit rate, and an agricultural use factor. Eligible farmers must use at least two-thirds of the facility's land area for agricultural production. The credit can be carried over for up to fifteen years and adjusted annually for inflation.

Establishes an agrivoltaic production tax credit for farmers using solar power and agricultural production simultaneously.

New York S05628 amends the tax law to create an agrivoltaic production tax credit for eligible farmers. This credit applies to farmers managing farm operations within qualified agrivoltaic facilities, which combine solar power generation with agricultural production. The credit is calculated based on the kilowatt hours of electricity produced, a base credit rate, and an agricultural use factor. Eligible farmers must use at least two-thirds of the facility's land area for agricultural production. The credit can be carried over for up to fifteen years and adjusted annually for inflation.