This bill creates a $1,500 wage tax credit for New York employers who hire National Guard members, reservists, volunteer firefighters, or volunteer EMS personnel. Employers qualify if these employees have worked for them at least six months. The credit applies to taxable years beginning January 1, 2027, directly reducing state tax liability for qualifying businesses. It specifically targets employers in these public service sectors to offset costs of retaining these workers.
This bill modifies tax credits for residents of cities with over one million people. It adjusts the existing school tax credit by reducing it $20 for every $1,000 of income over $75,000 (single/head of household) or $150,000 (married filing jointly), but never below zero. It also creates a new $300 per child tax credit for qualifying children under 18, phased out by $10 for every $1,000 over $160,000 (head of household) or $320,000 (married filing jointly), with credits prorated for partial-year residency. The credit requires providing a child's Social Security number and applies only to residents of large cities.
Bill A 952 provides a New York State tax credit to volunteer firefighters and ambulance workers. This tax credit is equal to the cost of a fishing license and a small and big game hunting license. The bill amends existing environmental conservation law to include this new provision, directly affecting these volunteers by reducing the cost of these specific licenses through a tax credit.
Provides a personal income tax credit in the amount of any fishing and/or hunting fees paid by members of the United States armed forces in active service.
Establishes a $500 tax credit for the purchase and installation of a security camera system on residential- and commercial-owned properties in a city having a population of one million or more persons.
Provides an asbestos remediation tax credit in Erie county; allows for a fifty percent credit of all eligible costs which are incurred as a result of asbestos remediation, not to exceed $1,000,000.
Directs the comptroller and the commissioner of taxation and finance to undertake a study on the feasibility of establishing a venture capital tax credit for investments to emerging diverse founding member businesses.
Establishes a child care program capital improvement tax credit program for child care programs to provide financial assistance to New York's child care providers to facilitate the enhancement, expansion, and improvement of access to quality child care.
Establishes a first permanent payroll employee tax credit which allows a business to receive a tax credit for the three years following the employment of such business' first permanent payroll employee where such credit equals a portion of the amount it costs to employ such permanent payroll employee.
Amends the low income housing tax credit eligibility requirement to at least sixty percent of residential units be both rent-restricted and occupied by individuals whose income is one hundred twenty-five percent or less of area median gross income.
