Relates to production credit for production of biomethane

This bill creates a tax credit for New York producers of biomethane, a renewable fuel made from organic waste (like landfill gas or agricultural manure) processed in anaerobic digesters. It provides a credit of 15 cents per gallon for the first 40,000 gallons of biomethane produced annually per facility, increasing to 25 cents per gallon beyond that threshold. The credit is capped at $2.5 million per facility per year for up to four consecutive years, applying to taxable years beginning before 2020. This directly benefits New York-based biomethane producers by reducing their state tax liability for qualifying production.