Provides that excess investment tax credit amounts may be refundable to operators of a farm operation

This bill allows farm operators whose primary income comes from farming to receive refunds for excess investment tax credits starting in 2025. If a farmer’s tax credit exceeds their tax liability for a year, they can elect to treat the difference as an overpayment refundable under existing tax law. The refund option applies only to credits from specific tax provisions (sections 210-B and 606 of the tax law) and requires the taxpayer’s primary income to be from a farm operation as defined in agriculture law. It does not change credit amounts but provides a new refund mechanism for qualifying farmers. The change takes effect January 1, 2025.