Establishes the historic preservation tax credit transfer program to incentivize businesses rehabilitating historic properties for affordable housing.

New York S04267 creates the historic preservation tax credit transfer program to provide flexibility and incentives for businesses rehabilitating historic properties. This program aims to promote the development of affordable housing. Eligible businesses can transfer tax credits to other businesses, including non-profit intermediaries, facilitating the rehabilitation of historic properties. The bill outlines eligibility criteria, the process for transferring credits, and the responsibilities of the commissioner of parks, recreation, and historic preservation.

Establishes the historic preservation tax credit transfer program to incentivize businesses rehabilitating historic properties for affordable housing.

New York S04267 creates the historic preservation tax credit transfer program to provide flexibility and incentives for businesses rehabilitating historic properties. This program aims to promote the development of affordable housing. Eligible businesses can transfer tax credits to other businesses, including non-profit intermediaries, facilitating the rehabilitation of historic properties. The bill outlines eligibility criteria, the process for transferring credits, and the responsibilities of the commissioner of parks, recreation, and historic preservation.