Budget & Taxes (Tax Incentives)

in committee · New York · Senate Jan 7, 2026

S 5673: Relates to real property subject to an authorization for a real property tax exemption

Relates to real property subject to an authorization for a real property tax exemption in the town of Smithtown, county of Suffolk, with respect to the 2019 and 2020 assessment rolls.

Topics ✗ Budget & TaxesOpposes Budget & TaxesAuthorizes property tax exemption, reducing municipal tax revenue and weakening local fiscal management for Smithtown.90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 30: Requires the return of certain financial assistance provided for a project where the project has material shortfalls or material violations and preventing the use of incentives for projects already in development

Requires the return of all or a part of the financial assistance provided for a project where the project has material shortfalls or material violations; prevents the use of funds, financial incentives, subsidies or tax exemptions for projects already in development.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill restricts tax incentives/subsidies for ongoing projects and requires return of funds for violations, limiting fiscal incentives and government spending flexibility.90% confidence

Sub-Topics Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 271: Defines film zone and excludes the film zone from the additional empire state film production credit

This bill defines a "film zone" as a 25-mile radius around Columbus Circle in Manhattan and excludes this area from eligibility for the Empire State Film Production Credit. It directly affects film productions in Manhattan that would otherwise qualify for the credit, as they can no longer claim the tax benefit for activities within this defined zone. The credit remains available for productions in specified upstate counties and areas outside the film zone, provided they meet budget and location requirements (e.g., $500,000 minimum budget, principal photography in eligible counties). The bill amends tax law to clarify these geographic boundaries for the credit program.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExcludes Manhattan film zone from tax credit, restricting eligibility and reducing available tax benefits for productions.85% confidence

Sub-Topics Tax Incentives

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signed · New York · Senate Oct 16, 2025

S 8161: Authorizes Yeshivas Nachlas Sofrim to receive retroactive real property tax exempt status

This bill allows Yeshivas Nachlas Sofrim Inc. to apply for retroactive property tax exemption on its Ramapo, New York property (66 Highview Road) for 2022-2023 tax years. If approved by the town assessor and Ramapo Town Board, the organization can receive refunds for taxes paid on those years, including cancellation of related penalties or interest. The bill authorizes the town to treat the application as if filed on time, correcting past tax rolls. It directly affects only this specific religious institution and its property tax obligations for the 2022-2023 assessment period.

Topics ✗ Budget & TaxesOpposes Budget & TaxesGrants retroactive property tax exemption, reducing town revenue for a specific entity, weakening budgetary resources by defunding collected taxes.85% confidence

Sub-Topics Property Tax Tax Incentives

in committee · New York · Assembly Jan 7, 2026

A 650: Relates to preventing the use of funds, financial incentives, subsidies or tax exemptions for projects in development

This bill prevents municipal agencies from providing funds, financial incentives, subsidies, or tax exemptions to projects that have already begun active construction (defined as site clearing, excavation, or foundation work). It directly affects developers seeking financial support for projects already underway. The key provision blocks such support unless significant environmental contamination requiring cost increases is discovered during development. The law applies immediately to all relevant municipal funding decisions.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRestricts municipal subsidies and tax exemptions for ongoing projects, limiting government spending on development incentives.95% confidence

Sub-Topics Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 7943: Provides for a real property tax exemption for property owned by certain limited liability companies

Provides for a real property tax exemption for property owned by single-member limited liability companies where such property serves as the primary residence of such member.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProvides tax exemption for LLC primary residences, likely benefiting wealthy property owners and reducing state tax revenue.80% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 5303: Provides motor fuel tax exemption for sales of diesel motor fuel used in vessels used directly in a business providing sport fishing opportunities

Provides motor fuel tax exemption for sales of diesel motor fuel used in vessels used directly in a business providing sport fishing opportunities for hire to the general public from the tax on petroleum businesses and from sales and compensating use taxes.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProvides tax exemption, reducing state revenue and weakening tax base for fiscal management.90% confidence

Sub-Topics Tax Incentives

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passed · New York · Assembly May 14, 2026

A 8013: Authorizes the county of Nassau assessor to accept an application for a real property tax exemption from Winners Chapel International New York

Bill A 8013 authorizes the Nassau County assessor to accept a late application for a real property tax exemption from Winners Chapel International New York. This applies to their property at 306 Fulton Ave. for the 2022, 2023, and 2024 tax assessment rolls. If the application is accepted and approved by the assessor and the Nassau County legislature, the organization could receive the exemption as if they had applied on time. The bill also permits the refund of any taxes already paid and the cancellation of outstanding taxes, fines, or penalties for those years.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill grants tax exemption to specific entity, reducing Nassau County tax revenue and weakening tax base.90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 3159: Relates to disallowing county industrial development agencies from offering incentives in municipalities which have their own industrial development agency

This bill prohibits county industrial development agencies from offering financial incentives (like tax breaks or funding) in any municipality that already has its own dedicated industrial development agency. It directly affects municipalities with established local agencies by preventing overlapping county-level incentives in those areas. The key provision bans county agencies from providing any form of financial assistance, tax incentives, or similar benefits within such municipalities. The law will take effect two years after enactment, creating a clear separation between county and municipal economic development efforts.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRestricts county tax incentives in municipalities with local agencies, limiting fiscal spending on overlapping incentives per bill's ban on financial assistance/tax breaks.90% confidence

Sub-Topics Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 4110: Provides for the application of the veterans' real property tax exemptions in the city of New York

This bill adjusts veterans' property tax exemption limits specifically for New York City (population over 1 million). It reduces maximum exemption amounts for qualifying veterans: from $7,500 to $2,000 for general military service exemptions, and from $8,000 to $3,200 for combat zone exemptions. The bill also lowers the cap for property purchased with veteran recognition funds from $5,000 to $2,000 in NYC. These changes directly affect veterans owning residential property in New York City who qualify for tax exemptions under state law.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces veterans' property tax exemptions in NYC, increasing tax burden for qualifying veterans by lowering exemption caps from $7,500→$2,000 and $8,000→$3,200.95% confidence ✗ VeteransOpposes VeteransReduces veterans' property tax exemptions from $7,500/$8,000 to $2,000/$3,200, directly cutting benefits.95% confidence

Sub-Topics Property Tax Tax Incentives Memorials & Recognition Veteran Education

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