Establishes the "Defund Municipalities that Defund the Police Act" which provides for a withholding of a certain amount of state funding for a defunding municipality.
Establishes the position of member of the legislature as a part-time, volunteer position in the service of the state; provides that state legislators shall receive no salary, or any other compensation or benefit from the state; authorizes the payment of travel expenses and per diem for days the legislature is in session, provides that per diem is limited to 30 days per annum; provides that the legislature shall convene in regular session only on Saturdays and Sundays in January and February; accelerates the state budget process so that the state budget is enacted on or before the last Sunday of February each year.
Exempts any purchase made by a civic association used or intended to be used in such civic association's course of business from sales and compensating use tax.
This bill creates a sales and use tax exemption for gift certificates, electronic gift cards, and magnetic gift cards sold by retailers. It defines these products to include physical or digital cards with a banked value redeemable for goods or services (excluding pre-paid phone cards). The exemption applies to the full face value of the card when purchased, meaning retailers wouldn't collect tax on the sale of these items. The law takes effect during the next quarterly sales tax period after it becomes law, requiring the tax commissioner to implement it promptly.
Authorizes the assessor of Richmond county to grant the Silver Lake Foundation Inc. retroactive real property tax exempt status upon an application therefor.
This bill creates a 100% tax deduction for capital gains earned from selling stock or ownership interests in New York corporations or LLCs to employee-owned enterprises (EOEs) located in New York. To qualify, the EOEs must have their commercial base in New York, and if structured as an employee stock ownership plan (ESOP), they must meet federal ESOP requirements. The deduction applies directly to individuals or entities selling business ownership to these qualifying New York-based employee-owned businesses. This policy change specifically modifies tax law to incentivize sales of New York business interests to employee-owned entities meeting defined criteria.
Authorizes the Congregation Khal Mevakshei Hashem, Inc. to receive retroactive real property tax exempt status for the 2024 assessment roll and all of the 2023-2024 school taxes.
This bill adjusts funding for hospitals serving high numbers of low-income and uninsured patients (safety net hospitals). It allocates $139.4 million annually to major public hospitals and $969.9 million to other general hospitals, but applies annual reductions of $150 million (2020-2022) and $275.4 million (2023 onward) to the latter group - unless hospitals qualify as "enhanced safety net hospitals" under specific criteria. To qualify, hospitals must meet metrics like serving at least 45% Medicaid/uninsured patients, operating under financial hardship, or providing critical community services. Starting in 2026, the bill mandates an additional $228.4 million in funding for qualified safety net hospitals to support their operations and maintain services for vulnerable populations.
Exempts railroad rolling stock from sales and compensating use taxes; defines "railroad rolling stock" as a device, which is used exclusively upon stationary rails or tracks to transport goods, commodities, or equipment, including, but not limited to, flat cars, box cars, gondolas, hopper cars, or other freight railroad cars.
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.
