Expands eligibility for tax abatement for rent-controlled and rent regulated property occupied by persons with disabilities to include individuals who do not meet the non-medical qualifications for SSDI and SSI but, by reason of the individual's disability, the individual is not able to engage in substantial gainful activity as that term is defined by the federal social security administration.
Authorizes recoupment by the state or any political subdivision of financial incentives such as awards, loans, grants or tax abatements, awarded businesses for purposes of job training, job creation or retention, or the development of business operations, upon recipient's failure to complete the terms of the incentive.
Provides a resident taxpayer an additional personal income tax exemption for each dependent who is 65 years of age or older and who is residing with the taxpayer; requires the office for the aging to biennially report to the governor and legislature concerning the effects of such additional tax exemption on programs offered under the auspices or with the support, direct or indirect, of the office for the aging.
Provides a tax exemption for real property owned by a person in active military service of the United States and their spouse to the extent of fifteen percent of the assessed value of such property.
Provides for direct-pay tax abatement credits for solar electric generating systems and electric energy storage systems in connection with eligible buildings; provides such eligible properties shall include: 501(c)(3) corporations, associations, organizations or trusts and income-restricted affordable housing properties.
Establishes a sales tax exemption for certain products purchased for less than five hundred dollars commencing on the fourth Friday in November and ending on the twenty-sixth day of December.
Establishes a qualified transportation fringe benefits program; allows for an itemized deduction for the full amount of expenses for any qualified transportation benefit provided to an employee of the taxpayer.
This bill creates a tax exemption for sales and installation of geothermal heat pump systems in both residential and commercial buildings. It exempts from sales tax the equipment and installation services for systems that use ground or groundwater for heating, cooling, and hot water - excluding recreational facilities. The exemption applies to residential systems (defined in new paragraph 47) and commercial systems (defined in new subdivision mm) under New York's tax law. Local governments may choose whether to apply these exemptions, as the bill modifies existing tax code provisions to include them.
This bill expands property tax exemptions for disabled veterans by removing the requirement that they must have served during a "period of war." It directly affects veterans with a 60% or higher service-connected disability rating from the U.S. Department of Veterans Affairs, regardless of when they served. The key mechanism amends the legal definition of "veteran" to include these individuals without needing proof of wartime service. This change ensures eligible disabled veterans qualify for the tax break based solely on their disability rating and honorable service, effective for property tax assessments starting August 30, 2008.
This bill (A 6893) amends New York's tax law to expand eligibility for brownfield redevelopment tax credits. It allows properties in specific designated areas - including brownfield opportunity areas (per General Municipal Law §970-r), empire zones, environmental zones, and urban renewal areas - to qualify for these credits. The change modifies Section 21 of the tax law to include these locations as qualifying sites for the credits. This directly affects developers and businesses redeveloping contaminated or underused properties in these designated zones. The policy change simplifies access to tax incentives for brownfield cleanup and redevelopment projects.
