New York Governor Andrew M. Cuomo in the 2013-2014 state executive budget and management plan proposed a five year extension to the state’s Historic Commercial Properties Rehabilitation tax credit program. The extension would provide assurance to developers who are rehabilitating historic commercial property, or are considering doing so, by extending the existing $5 million per project tax credit and would make the credit refundable beginning in tax year 2015. The proposal was introduced in the New York State Assembly on January 22, 2013 as A. 3009 and in the State Senate as S.B. 2609; the Assembly version of the bill was referred to the Assembly Committee on Ways and Means and the Senate version has been referred to the Senate Committee on Finance.

Click here to read the full NY State Executive Budget.
Click here to read A. 3009.
Click here to read S.B. 2609.