Relates to the treatment of excess credits for the rehabilitation of historic barns

This bill creates a 25% tax credit for New York taxpayers who rehabilitate qualifying historic barns used for agricultural purposes. The credit covers 25% of qualified rehabilitation costs paid within five years, but excludes costs already used for other credits and prohibits credit claims for barns converted to residential use or altering historic appearance. If a taxpayer’s income is under $60,000, excess credit amounts are refunded immediately; otherwise, excess credits carry forward to future tax years. The credit applies only to barns meeting specific historic criteria under New York law and takes effect immediately.