NY Lawmakers introduce bill to expand farmer tax credit

ALBANY, N.Y. (NEWS10)—A new bill sponsored by Republican Senator Jim Tedisco and Democratic Assemblymember Marianne Buttenschon, would expand the state’s 20% investment Tax Credit for farmers to include the cost of housing construction for farm workers. It has gained the support of the New York Farm Bureau.

“Unfortunately, there is a loophole in that program, where farm housing isn’t included,” said Jeff Williams, Director of Public Policy for New York Farm Bureau. “You can house chickens in a barn and get 20% back, but you can’t have employees in high quality housing under this tax credit. This bill fixes that issue.”

Governor Hochul said there’s a lack of housing in New York and has made it clear she wants a deal final state budget. She proposed building 15,000 units of housing on state property. Tedisco thinks this bill could help.

“Solving the housing problem is not going to be solved by a single piece of legislation or a budget. It has to be a holistic approach,” said Tedisco. “This is a piece of the equation to deal with the housing concern we have in New York State.”

Advocates say this legislation is good for the economy.

“New York has lost almost 3,000 farms in the last five years,” said Williams. “We’re so grateful for this refundable investment tax credit. It’s a five-year window where farmers can get 20% back on their investments on their farm operations.”

When asked if lawmakers would like this included in the state budget, Tedisco replied, “This should be a no-brainer for Democrats, Republicans and the like of all of us. So we hope it gets passed sooner than later.”

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