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S 4008 New York Senate · 2025 Regular Session

Authorizes the trading of existing but unused research and development credits and existing but unused net operating loss deductions to existing entities

Summary
Authorizes the trading of existing but unused research and development credits and existing but unused net operating loss deductions to existing corporations and partnerships in return for private assistance; enacts the "Small New York Based High-Technology Business Investment Tax Credit Act".
Issues: ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for high-tech businesses, enabling tax relief and investment incentives through unused credits, aligning with fiscal policy goals.95% confidence ✓ TechnologySupports TechnologyCreates tax credit for high-tech businesses via 'Small New York Based High-Technology Business Investment Tax Credit Act', directly funding technology sector growth.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 31, 2025 Last action Jan 7, 2026
Floor votes

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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
2
Jan 7, 2026
Committee
REFERRED TO BUDGET AND REVENUE
upper
Jan 31, 2025
Committee
REFERRED TO BUDGET AND REVENUE
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Kevin Parker
Kevin Parker
DDemocratic/Working Families
NY
21