S 1559 New York Senate · 2025 Regular Session

Enacts the "Affordable NY act"

S 1559, the "Affordable NY Act," increases property tax exemptions for homeowners and adjusts New York's personal income tax brackets. It raises the basic STAR exemption base from $30,000 to $60,000 for all future years and ties the enhanced STAR exemption base to a CPI-W index (multiplied by two for 2025-2026 and beyond). The bill also updates income tax rates, including higher brackets for 2018-2020 taxable years, with specific changes to tax thresholds and percentages. These changes directly affect New York homeowners who qualify for STAR exemptions and residents filing state income tax returns. The bill takes immediate effect upon enactment.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 10, 2025 Last action Mar 13, 2026
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Full legislative history

Actions timeline

Total actions
3
Key actions
1
Committee
3
Mar 13, 2026
Upper · Passed
NOTICE OF COMMITTEE CONSIDERATION - REQUESTED
upper
Jan 7, 2026
Committee
REFERRED TO AGING
upper
Jan 10, 2025
Committee
REFERRED TO AGING
upper
1 primary · 10 co-sponsors

Sponsors