Relates to itemized deductions for New York residents

This bill prevents New York residents with an adjusted gross income exceeding ten million dollars from claiming any itemized deduction for charitable contributions on their state tax returns. By amending the state tax law, it removes the ability for high-income individuals to reduce their taxable income by twenty-five percent of their donations, a provision that previously applied to contributions made during specific past years. The change applies immediately to all tax years beginning on or after the effective date, directly impacting the tax liability of wealthy New York taxpayers who make charitable gifts.