Raises the tax rate on corporate income; increases the state conformity to federal taxation of corporate profit shifting; imposes an additional tax on individual business income in response to federal tax benefits for pass-through business income.
Relates to establishing a twenty year retirement plan for members or officers of law enforcement; includes every non-seasonally appointed sworn member or officer of the division of law enforcement in the department of environmental conservation, a forest ranger in the service of the department of environmental conservation, a police officer in the department of environmental conservation, the regional state park police, and university police officers in such twenty year plan.
Relates to the general powers and duties of the canal corporation; requires the canal corporation to cause the locks and lift bridges of the canal system to be operated May first through November fifteenth annually; requires the canal corporation to maintain and preserve the Erie Canal's historic resources; permits certain usage of the canal system's state drydocks, travel lifts, and other facilities for commercial boat companies.
Aligns utility regulation with state climate justice and emission reduction targets; repeals provisions relating to continuation of gas service; repeals provisions relating to the sale of indigenous natural gas for generation of electricity.
Prohibits proceeds from the auction or sale of carbon dioxide emission allowances pursuant to New York's participation in the regional greenhouse gas initiative (RGGI) from being transferred into the state general fund; provides that if such proceeds are transferred to the state general fund, they shall be used for the purposes directed by the RGGI.
Establishes an indirect source review for heavy distribution warehouse operations; requires the department of environmental conservation to conduct a study regarding zero-emissions zones.
Establishes the climate change adaptation cost recovery program to require companies that have contributed significantly to the buildup of climate-warming greenhouse gases in the atmosphere to bear a share of the costs of needed infrastructure investments to adapt to climate change; mandates that projects funded by the program require compliance with prevailing wage requirements; requires that contracts for funded projects contain a provision that the structural iron and structural steel used or supplied in the performance of the contract or any subcontract thereto shall be produced or made in whole or substantial part in the United States, its territories or possessions; makes additional provisions; establishes the climate change adaptation fund.