New Bill Proposes Expanded Tax Credit for Farm Worker Housing in State- Growing Support!

Bipartisan Effort in New York Seeks to Close Tax Credit Gap for Farm Worker Housing

New York Lawmakers Seek to Close Tax Credit Gap for Farm Worker Housing

Senator Jim Tedisco and Assemblywoman Marianne Buttenschon of New York have teamed up to present a new bill that aims to increase the state’s investment tax credit for farmers. The bill is bipartisan in nature. The New York Farm Bureau supports this initiative, which aims to expand tax credits to pay for the construction of homes for farm workers. Unlike housing for livestock, farm housing is now exempt from tax benefits due to a loophole.

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New Bill Proposes Expanded Tax Credits for Farm Worker Housing in State- Growing Support! (PHOTO: NerdWallet)

Lawmakers and Governor Align Efforts to Tackle New York’s Housing Crisis

This idea is in line with Governor Kathy Hochul’s attempts to address the state’s housing need. Tedisco emphasized that this bill is only a small component of a larger plan to address New York’s housing problems. In addition to helping farmers, the goal is to stop the alarming state-wide trend of farm closures. Supporters contend that the state can foster the expansion and sustainability of its agriculture industry, which is vital to New York’s economy, by increasing the investment tax credit.

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