This bill creates the Vacant Rental Improvement Program, providing grants of up to $75,000 per unit to owners of small rental buildings (five or fewer units) located outside New York City. It requires renovated units to be leased at affordable rates - defined as 80% of area median income - for a 10-year period, with new owners inheriting the affordability requirement. The program prioritizes vacant units or those with code violations and establishes a dedicated "rental improvement fund" for financing. Owners who violate the lease terms risk full repayment of grants.
Includes not-for-profit corporations and public television or radio corporations in the definition of business entity; allows such entities to claim the newspaper and broadcast media jobs tax credit.
Establishes the block by block homeownership program to provide capital subsidies for the purpose of constructing, preserving, and rehabilitating one- to two- family dwellings throughout the state, outside of NYC.
Relates to the imposition of sales and compensating use taxes with respect to certain aircraft; repeals provisions relating to the exemption from sales and compensating use taxes of general aviation aircraft, and machinery or equipment to be installed on such aircraft.
This bill repeals two specific tax provisions related to vessels: subdivision (jj) of section 1115 and subdivision 13 of section 1118 of the tax law. These provisions, added in 2015, imposed sales and compensating use taxes on certain vessels. The repeal directly affects businesses or individuals subject to these taxes by removing the requirement to pay them. The change takes effect June 1, 2025, eliminating the existing tax rules without creating new obligations.
This bill increases the sales tax exemption threshold for clothing and footwear from $110 to $200 per item. It means shoppers will not pay sales tax on individual clothing items, shoes, or repair components costing less than $200. The change applies to new purchases and items used to repair clothing. The law will take effect on September 1, 2025.
S 7798 makes technical adjustments to New York State's 2025-26 aid to localities budget, specifically reallocating $90 million from the General Fund to the "Underserved Communities and Civic Engagement Program." The bill directs funding to seven specific nonprofit organizations, including the Asian American Foundation, New York Urban League, and Catholic Charities Community Services, for services like housing assistance, workforce training, and healthcare in underserved areas. This is a procedural budget modification with no new policy changes, simply adjusting existing allocations. The bill became law on May 23, 2025, and applies immediately to the 2025-26 fiscal year.
Bill S 3003 appropriates specific amounts of money for the "Aid to Localities Budget," providing financial support to local governments for the fiscal year beginning April 1, 2025. It also reappropriates unspent funds from prior years and allows for the allocation of federal grants. A key provision grants the budget director authority to withhold these funds if a general fund imbalance of $2 billion or more is projected for fiscal year 2025-26. However, certain payments like public assistance, debt service, and those mandated by federal law or court orders are exempt from these potential withholdings. The bill outlines a process for notification and legislative review if such withholdings are initiated.
Bill A 3000, titled the State Operations Budget, appropriates funds for the ongoing operations of state government for the fiscal year beginning April 1, 2025. It allocates new money and reappropriates unspent funds from previous years to support various state agencies and their functions. A key provision allows the budget director to temporarily withhold certain payments if the state projects a general fund imbalance of $2 billion or more. However, specific payments like public assistance, debt service, and those mandated by federal law or court orders are exempt from these potential withholdings. The legislature is also given a period to propose an alternative plan before any withholdings take effect.
Bill S 3004, titled "CAPITAL PROJECTS BUDGET," appropriates and reappropriates funds for various state capital projects, including comprehensive construction programs, for the fiscal year beginning April 1, 2025. These funds are made available to public officers for designated projects, requiring a certificate of approval from the budget director before payment. A key provision allows the budget director to withhold these appropriated amounts if a general fund imbalance of $2 billion or more is projected for fiscal year 2025-26, after depleting a transaction risk reserve. However, certain payments like public assistance, debt service, and those required by federal law or court orders are exempt from these potential withholdings, and the legislature can propose an alternative plan.
