NY local food and products sourcing tax credit

This bill creates a tax credit for New York businesses that source a significant portion of their products locally. It directly affects businesses subject to New York's income tax (Article 9 or 9-A) that sell food or goods, provided they source 20% to 100% of their net sales from New York producers. The credit amount varies based on the percentage of local sourcing: $1,500 for 20%, up to $25,000 for 100% local sourcing, with no carryover of unused credits to future years. Businesses must submit a report with their tax return detailing local producer names, locations, purchase amounts, and units bought.