Establishes a historic wood window rehabilitation and energy retrofit tax credit of up to 25% of the expenditures paid or incurred within the five years preceding the year in which the tax credit is applied.

New York Assembly Bill A00286 proposes a tax credit for property owners who rehabilitate historic wood windows and implement energy-efficient upgrades. The credit covers 25% of qualified expenses incurred within the five years before applying for the credit. Eligible windows must be at least 50 years old and approved by the state historic preservation office. Energy efficiency improvements include repairs like reglazing, weatherstripping, and installing storm windows. The program has an annual cap of $200,000 in total credits, with individual projects limited to $50,000 in expenditures per fiscal year. If the credit exceeds the taxpayer's liability, those with an adjusted gross income up to $60,000 can receive a refund; others can carry the excess forward to future tax years.

Positive media analysis is being generated.

Although direct media critiques of Bill A00286 are lacking, similar programs have faced criticism for potentially favoring wealthier property owners who can afford upfront rehabilitation costs. Detractors also express concerns about the administrative burden of verifying compliance with historic preservation standards and the potential for limited public benefit relative to the tax revenue foregone.