Budget & Taxes (Tax Incentives)

in committee · New York · Senate Jan 7, 2026

S 6563: Provides an exemption for lifeguard services

This bill exempts lifeguard services from New York's sales and compensating use taxes when provided by qualified lifeguards or aquatic supervisory staff, as defined in existing state regulations. It directly affects lifeguard service providers (such as pools, beaches, or aquatic facilities) and their customers who pay for these services. The key mechanism adds a specific tax exemption to the tax law, removing the sales tax burden on these services. This change applies immediately upon the bill's enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts lifeguard services from sales tax, providing tax relief to providers - direct tax reduction aligning with support indicators.90% confidence

Sub-Topics Sales Tax Tax Incentives

Track

in committee · New York · Assembly Jan 7, 2026

A 4233: Increases the tax exemption amount on clothing and apparel items from one hundred ten dollars to two hundred dollars

This bill raises the sales tax exemption threshold for clothing and footwear from $110 to $200 per item. It directly affects shoppers purchasing individual articles of clothing, shoes, or repair items under $200, as they will no longer pay sales tax on these purchases. The key change updates Section 1115 of the tax law to increase the exemption amount, applying to new items or repairs that become part of clothing. The change takes effect September 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases sales tax exemption for clothing, reducing tax burden on lower-income shoppers purchasing items under $200.95% confidence

Sub-Topics Procurement Sales Tax Tax Incentives

Track

in committee · New York · Assembly Jan 7, 2026

A 4332: Relates to redetermination of a tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities

Permits a redetermination of a tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities upon a permanent decrease in income.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief for seniors/disabled tenants with income decreases via tax abatement redetermination, aligning with lower-income tax relief indicators.95% confidence ✓ HousingSupports HousingPermits tax abatement redetermination for rent-regulated properties occupied by vulnerable tenants when income decreases, maintaining affordability and protecting tenant rights in existing housing.85% confidence

Sub-Topics Tax Incentives Property Taxes Renters

Track

in committee · New York · Assembly Jan 7, 2026

A 1995: Provides an asbestos remediation tax credit

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 50% tax credit for asbestos remediation costs, reducing tax liability for eligible expenses within Erie County.95% confidence

Sub-Topics Tax Credits Tax Incentives

Track

in committee · New York · Assembly Jan 7, 2026

A 3708: Directs a study on establishing a venture capital tax credit for investments to emerging diverse founding member businesses

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesProposes study for venture capital tax credit, a tax relief measure for businesses, aligning with support indicators for tax policy.85% confidence

Sub-Topics Audits & Accountability Tax Credits Tax Incentives

Track

in committee · New York · Assembly Jan 7, 2026

A 4454: Relates to establishing a first permanent payroll employee tax credit

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes a tax credit for businesses, providing direct tax relief and reducing government tax revenue, aligning with tax policy support indicators.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

Track

in committee · New York · Assembly May 7, 2026

A 9036: Authorizes Godschild Outreach Ministries to receive retroactive real property tax exempt status

This bill authorizes Godschild Outreach Ministries, a religious nonprofit organization, to apply for retroactive real property tax exemption on specific parcels in Wyandanch, Babylon, Suffolk County (142 Irving Avenue). It allows the town assessor to accept their application for exemption from general and school taxes covering the 2019-2025 tax years, as if filed on time. If approved by the town board, the organization could receive refunds for taxes paid during those years, with corrections made to the tax rolls. The bill does not change existing tax law but provides a mechanism for this specific entity to seek retroactive relief.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill grants retroactive tax exemption, reducing town revenue for 2019-2025 by allowing refunds, weakening fiscal management.90% confidence

Sub-Topics Property Tax Tax Incentives

Track

in committee · New York · Assembly Jan 7, 2026

A 6695: Relates to amending the low income housing tax credit eligibility requirements

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesAmends tax credit eligibility to require 60% rent-restricted units for low-income households, directing tax incentives toward affordable housing programs.95% confidence ✓ HousingSupports HousingRequires 60% of units to be rent-restricted for ≤125% AMI, strengthening affordability criteria for low-income housing tax credits.92% confidence

Sub-Topics Tax Credits Tax Incentives Affordable Housing Historic Preservation Housing Finance

Track

in committee · New York · Senate Jan 7, 2026

S 695: Relates to authorizing small business tax-deferred savings accounts

Relates to authorizing small business tax-deferred savings accounts for the purpose of improving facilities of such business and for procurement of machinery or equipment.

Topics ✓ Budget & TaxesSupports Budget & TaxesAuthorizes tax-deferred accounts for small businesses, providing tax relief through deferred taxation on business investments.90% confidence

Sub-Topics Business Taxes Procurement Tax Incentives Tags Small Business

Track

in committee · New York · Senate Jun 5, 2026

S 4828: Authorizes certain exemptions from school district real property taxes for volunteer firefighters

S 4828 creates a property tax exemption for volunteer firefighters in New York school districts. It allows enrolled volunteer firefighters (and their spouses) to exempt their primary residence from school district real property taxes, provided they live in the district served by their fire company, own the home as their primary residence, and have served at least five years (or 20+ years for lifetime exemption). The exemption value is capped at $12,000 multiplied by the state equalization rate for the area. School districts must adopt a local law after a public hearing to implement the exemption, and applicants must file with the school district assessor. The bill directly affects qualifying volunteer firefighters residing in the school district where they serve.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates property tax exemption for volunteer firefighters, reducing their tax burden as tax relief for middle-income residents.95% confidence

Sub-Topics Property Tax Tax Incentives

Track