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.
Establishes the building and fire code adherence tax credit which provides a tax credit to property owners who spend money to update a property to adhere to current applicable building and fire codes.
This bill changes how the state's Earned Income Tax Credit (EITC) is paid to qualifying low-to-moderate income workers. Instead of receiving the full credit as a single lump sum, taxpayers will receive payments in installments based on the credit amount: under $200 is paid in full at once; $200-$2,400 is paid in $200 monthly installments (plus a final partial payment); and over $2,400 is paid equally over 12 months. The bill directly affects individuals who claim the state EITC or enhanced EITC under existing tax law. It takes effect 120 days after enactment, with the tax commissioner authorized to adjust rules for implementation.
This bill creates a New York state tax credit for small businesses hiring disabled workers. Small businesses with 100 or fewer employees can claim a $5,000 credit per disabled employee (up to $25,000 per business annually), provided the employee works 35+ hours weekly for six months and the employer verifies the employee meets the statutory disability definition. The credit is capped at $5 million total per year, with unused credits carried forward for up to three years. It directly affects small business employers in New York who hire eligible disabled residents, aiming to incentivize their employment through tax relief.
Authorizes the pass-through or transfer of the credits for rehabilitation of historic properties; authorizes the allocation of the credit in a separate manner from any federal certified historic tax credit.
Relates to costs and expenses of the department of public service and the public service commission; directs the public service commission to develop a formula to determine the average cost, on a per ratepayer basis, to comply with the provisions set forth in article seventy-five of the environmental conservation law; provides for a ratepayer protection tax credit; repeals certain provisions of the public service law relating to the assessment of costs and expenses of the department of public service and the public service commission.
