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

New York Assembly Bill A00364 aims to modify the state's tax law to allow taxpayers with an income below $60,000 to receive a refund for any excess tax credits obtained from rehabilitating historic barns. This change seeks to make the tax benefits more accessible to lower-income individuals who may not have sufficient tax liability to fully utilize the credits otherwise.

Supporters of the bill argue that it promotes the preservation of historic barns by making rehabilitation projects more financially feasible for lower-income property owners. By allowing refunds for unused tax credits, the legislation is seen as a step toward equitable access to preservation incentives, potentially leading to increased restoration efforts and the safeguarding of rural heritage.

Critics express concern that the bill could lead to increased state expenditures due to the refundability of tax credits, potentially impacting the state's budget. There is also apprehension that the measure might not effectively target the most at-risk historic barns or could be exploited by individuals not genuinely committed to preservation efforts.