Establishes a home heating tax credit

Summary

The bill adds a new credit to New York tax law that gives qualified homeowners or renters a $300 credit (single) or $600 credit (married filing jointly) if their income is below set limits. It applies to the 2024 taxable year and expires at the end of 2025. The credit can be refunded if it exceeds the taxpayer’s liability, but no interest is paid on the refund.

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