Establishes a pilot program and tax credits to promote mass timber use in affordable housing projects in New York.

The bill establishes the Build Up New York pilot program to provide grants to municipalities constructing new accessory dwelling units using mass timber. It also creates the Mass Timber for Affordable Housing Program, offering tax credits for using mass timber in new construction or retrofits serving households up to 150% of the area median income. Additionally, it provides tax credits for mass timber production. The pilot program prioritizes projects using mass timber from New York forests with approved management plans.

Establishes a pilot program and tax credits to promote mass timber use in affordable housing projects in New York.

The bill establishes the Build Up New York pilot program to provide grants to municipalities constructing new accessory dwelling units using mass timber. It also creates the Mass Timber for Affordable Housing Program, offering tax credits for using mass timber in new construction or retrofits serving households up to 150% of the area median income. Additionally, it provides tax credits for mass timber production. The pilot program prioritizes projects using mass timber from New York forests with approved management plans.