This bill increases the tax credit for purchasing automated external defibrillators (AEDs) from $500 to $1,000 per device. It directly affects taxpayers who buy AEDs for non-resale use, such as businesses, schools, or community organizations. The key change is doubling the credit amount per unit purchased, while maintaining limits that prevent the credit from reducing tax liability below a minimum threshold. The policy applies to taxable years beginning January 1, 2026, and updates multiple sections of the tax law to reflect the higher credit amount.
Establishes the carbon farming certification committee for the purpose of developing a certification framework, determining qualified carbon removal practices eligible for the carbon farming tax credit, and promulgating certification standards for qualified carbon removal practices; provides for the development of educational materials to encourage carbon farming by promoting farming practices which reduce, sequester and mitigate greenhouse gas emissions on land used in support of a farm operation; establishes carbon farming tax credits.
Allows an individual taxpayer to claim a credit against their income tax for excess premium paid during the applicable tax year for flood insurance providing coverage on the taxpayer's primary residence; authorizes the commissioner of taxation and finance to promulgate any necessary rules and regulations.
This bill creates a 25% tax credit for New York taxpayers who rehabilitate qualifying historic barns used for agricultural purposes. The credit covers 25% of qualified rehabilitation costs paid within five years, but excludes costs already used for other credits and prohibits credit claims for barns converted to residential use or altering historic appearance. If a taxpayer’s income is under $60,000, excess credit amounts are refunded immediately; otherwise, excess credits carry forward to future tax years. The credit applies only to barns meeting specific historic criteria under New York law and takes effect immediately.
S 6866 increases the maximum Excelsior R&D tax credit for non-green projects from 6% to 20% of qualifying New York state research and development expenditures. This bill directly affects businesses participating in New York's Excelsior Jobs program that conduct R&D within the state. The key change allows eligible companies to claim a higher tax credit (up to 20%) on their New York-based R&D spending, while maintaining an 8% cap for green projects or Green CHIPS projects. The credit is calculated based on state R&D expenditures, including related wages, and applies to participants in the Excelsior program.
This bill creates a tax credit for employers who contribute to employees' college savings accounts. Employers can claim a credit equal to their contribution (up to $5,000 per employee) toward a "family tuition account" established under New York's Education Law. The credit directly reduces the employer's income tax bill for the year, with any unused portion treated as an overpayment refundable without interest. It applies to contributions made on behalf of employees for college tuition savings, not to employee contributions or other account types.
S 4104 amends New York's tax law to expand eligibility for the green building tax credit by explicitly including residential buildings as qualifying structures. This change directly affects homeowners and developers constructing new residential green buildings who previously may have faced eligibility barriers. The bill modifies Section 19 of the tax law to add "any residential building" to the list of eligible structures, while maintaining existing restrictions on construction in certain wetlands requiring federal or state permits. The policy change simplifies access to the tax credit for residential green building projects without altering the credit's value or application process.
This bill (A 5549) increases New York State's child tax credit for families with children under age four. It raises the credit rate from 33% to 66% of the federal child tax credit amount for qualifying children under four, effectively doubling the state credit for this age group. The change applies to taxpayers filing for 2026 tax returns and directly benefits New York residents with young children who meet federal qualifying criteria. The policy modifies the state tax law without altering federal rules, focusing on targeted financial support for low-to-moderate-income families with infants and toddlers.
Creates an in vitro fertilization treatment tax credit for up to three cycles of in vitro fertilization treatment for expenses related to treatment for infertility.
This bill amends New York's tax law to include residential buildings as eligible for the green building tax credit. It directly affects homeowners and developers constructing residential properties who may now qualify for this tax incentive. The key change adds "any residential building" to the list of eligible structures under the tax credit program, removing previous restrictions that excluded them. This adjustment simplifies eligibility by expanding the definition of qualifying buildings under the existing tax credit framework.
