Establishes a pilot program for mass timber in affordable housing and tax credits for mass timber use.

The bill establishes the Build Up New York pilot program to provide grants to eligible 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 bill aims to pilot mass timber use in affordable housing, provide tax incentives for mass timber adoption, and spur investment in mass timber production facilities.

Establishes a pilot program for mass timber in affordable housing and tax credits for mass timber use.

The bill establishes the Build Up New York pilot program to provide grants to eligible 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 bill aims to pilot mass timber use in affordable housing, provide tax incentives for mass timber adoption, and spur investment in mass timber production facilities.