New York S07262 creates a 30% tax credit for commercial or mixed-use building owners installing automatic swinging door opening systems in medical.

New York S07262 amends the tax law to introduce a 30% retrofit tax credit for owners of commercial or mixed-use buildings that install automatic swinging door opening systems. This credit applies to buildings occupied on a full-time basis by one or more medical offices. The credit is limited to $10,000 per building and can be carried over to subsequent years if it exceeds the taxpayer's tax liability for the year. The credit is effective for taxable years beginning on or after January 1, 2026, and is subject to an annual cap of $500,000 in tax credits.

New York S07262 creates a 30% tax credit for commercial or mixed-use building owners installing automatic swinging door opening systems in medical.

New York S07262 amends the tax law to introduce a 30% retrofit tax credit for owners of commercial or mixed-use buildings that install automatic swinging door opening systems. This credit applies to buildings occupied on a full-time basis by one or more medical offices. The credit is limited to $10,000 per building and can be carried over to subsequent years if it exceeds the taxpayer's tax liability for the year. The credit is effective for taxable years beginning on or after January 1, 2026, and is subject to an annual cap of $500,000 in tax credits.