New York legislation · 2025-2026 General Assembly
New York A10366: Establishes the white elephant housing historic rehabilitation projects tax credit program
Status: In committee, May 28, 2026
Establishes the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program for qualified rehabilitation expenditures totaling fifty million dollars or more with respect to a certified historic structure that has been vacant, as determined by local code enforcement or other reasonable means, for at least ten of fifteen consecutive years preceding the date of the taxpayer's application for the rehabilitation credit.
What the bill says
An act to amend the tax law and the parks, recreation and historic preservation law, in relation to establishing the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program.
From the amended text, May 28, 2026:
AN ACT to amend the tax law and the parks, recreation and historic preservation law, in relation to establishing the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS: Section 1. Subsection (oo) of section 606 of the tax law, as amended by section 2 of part E of chapter 59 of the laws of 2025, is amended to read as follows: (oo) Credit for rehabilitation of historic properties. (1) (A) For taxable years beginning on or after January first, two thousand ten and before January first, two thousand [thirty] THIRTY-SEVEN, a taxpayer, or a transferee of such a taxpayer as described in paragraph seven of this subsection, shall be allowed a credit as hereinafter provided, against the tax imposed by this article, in an amount equal to: (I) one hundred percent of the amount of credit allowed the taxpayer with respect to a certified historic structure, and one hundred fifty percent of the amount of credit allowed the taxpayer with respect to a certified historic structure that is a small project, under internal revenue code section 47(c)(3), determined without regard to ratably allocating the credit over a five year period as required by subsection …
Sponsors
- Pamela Hunter (D, 128) · primary sponsor
- Carrie Woerner (D, 113)
- Albert Stirpe (D, 127)
- Didi Barrett (D, 106)
- Patrick Burke (D, 142)
- William Conrad (D, 140)
- Jonathan Rivera (D, 149)
- Karen McMahon (D, 146)
- Nader Sayegh (D, 90)
- Sarahana Shrestha (D, 103)
- Donna Lupardo (D, 123)
- Angelo Santabarbara (D, 111)
Latest actions
- : PRINT NUMBER 10366A
- : AMEND AND RECOMMIT TO WAYS AND MEANS
- : REPORTED REFERRED TO WAYS AND MEANS
- : 1ST REPORT CAL.477
- : REFERRED TO TOURISM, PARKS, ARTS AND SPORTS DEVELOPMENT
- : REFERRED TO JUDICIARY
- : RETURNED TO SENATE
- : DIED IN ASSEMBLY
- : ORDERED TO THIRD READING RULES CAL.261
- : SUBSTITUTED FOR A3121
Votes
- Assembly Tourism, Arts And Sports Development Committee: Favorable refer to committee Ways and Means (May 20, 2026): 20 yea, 0 nay, passed
Subjects: Tax Law
Common questions
- What is A10366?
- A10366 is a bill in the New York Legislature (2025-2026 General Assembly): Establishes the white elephant housing historic rehabilitation projects tax credit program.
- What does A10366 do?
- In its own words: An act to amend the tax law and the parks, recreation and historic preservation law, in relation to establishing the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program.
- What is the status of A10366?
- In committee as of May 28, 2026. Latest action: PRINT NUMBER 10366A (May 28, 2026).
- Who sponsored A10366?
- Pamela Hunter (D, 128), with 11 co-sponsors.
- Where is the official record for A10366?
- On the New York Legislature website: https://www.nysenate.gov/legislation/bills/2025/A10366
Source: official New York record. Tracked by Delilah, AI for legislation across all 50 states and Congress.