Expansion Of The Investment Tax Credit – A New Move From The New York Lawmakers!

The proposed expansion of the investment tax credit was initiated by the New York lawmakers.

This measure is also aimed to address the state’s housing shortage. (Photo: The Packer)

Proposed Expansion Of The Investment Tax Credit

New York lawmakers have introduced a bipartisan bill to expand the state’s investment tax credit for farmers to include housing costs for farm workers.

This proposal involving the investment tax credit is supported by the New York Farm Bureau and Governor Kathy Hochul.

The expansion proposal of the investment tax credit aims to address a loophole that currently prevents farm housing from receiving tax benefits.

The investment tax credit bill is part of a larger strategy to address the state’s housing shortage and support the agricultural sector by making it more economically viable for farmers to provide quality housing for their workers.

According to a published article by SmartNews, proponents argue that this measure about the investment tax credit is crucial for ensuring the sustainability and growth of farming operations in New York.

Sponsorship By Senator Jim Tedisco And Assemblymember Marianne Buttenschon

In a published article by NEWS10 ABC, Senator Jim Tedisco and Assemblymember Marianne Buttenschon have sponsored a bill to expand the state’s investment tax credit for farmers to include the cost of housing construction for farm workers.

The bill has support from the New York Farm Bureau, who say the current program has a loophole that excludes farm housing.

Governor Hochul has expressed interest in addressing the lack of housing in New York and has proposed building 15,000 units on state property.

Tedisco believes this bill could help address housing concerns in the state. Advocates argue that the legislation is good for the economy, as New York has lost almost 3,000 farms in the last five years.

Tedisco hopes the bill will pass quickly, as he believes it should have bipartisan support.

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