This bill creates a federal tax deduction of up to $1,000 for individuals who pay for fertility preservation services, such as collecting, freezing, and storing eggs (ova). It directly affects people undergoing fertility treatments who incur these costs. The deduction applies to expenses included in federal adjusted gross income, limited to the $1,000 maximum per year. The provision takes effect for taxable years beginning January 1, 2025.
This bill imposes an 8.5% tax on ticket sales for all combative sports events in New York, including boxing, wrestling, and similar matches, with a $50,000 maximum tax per event. It also applies the same 8.5% tax to broadcasting and digital streaming revenue from these events, capped at $50,000 per event. The tax applies to both traditional combative sports (like boxing) and other authorized combative sports events held in the state. Event organizers and venues hosting these events will directly pay this tax on ticket sales and media rights revenue. The law takes effect immediately upon enactment.
This bill would create a property tax exemption for New York police officers who live in the state. It allows local governments to exempt up to 15% of a qualified officer's primary residence value from property taxes, capped at $12,000 or the equivalent based on state tax rates. Officers must apply annually using a state-provided form and refile each year. The exemption excludes school taxes and applies only to residential property used exclusively for living. The bill is currently pending in the Local Government committee (referenced April 3, 2025).
Establishes the residential open green space tax abatement for certain properties in a city of one million or more; provides an abatement for owners who remove an impermeable surface from a residential yard and replace it with soil and vegetation.
This bill authorizes Salamanca City School District to create a reserve fund (capped at $5 million) using existing district funds if federal impact aid decreases. The fund would stabilize school tax levies and maintain educational services if federal aid is reduced, directly affecting Salamanca students and taxpayers. Voter approval via a separate ballot question is required before establishing the fund, and withdrawals would be disclosed in annual budget reports. The bill specifies that funds would be drawn from unassigned balances or other existing reserves, not new taxes.
Establishes a tax credit for food service establishment donations to food pantries, in the amount of fifty percent of the marketed value of each of the taxpayer's qualified donations up to six dollars per qualified donation, beginning with the 2027 tax year.
Grants credit against personal income tax to purchasers of residential housing in the amount of any downpayment made on such housing; provides that the maximum credit shall not exceed 5 percent of the purchase price of the residential housing; requires taxpayers to meet eligibility requirements imposed by the state of New York mortgage agency.
This bill authorizes Rockland County to impose two additional sales tax rates: a 0.625% rate (5/8 of 1%) from March 2022 through November 2027, and a 0.375% rate (3/8 of 1%) from March 2027 through November 2027. It directly affects residents and businesses in Rockland County who pay sales tax, as well as towns and villages within the county that receive allocated tax revenue. The law requires the county to distribute 20% of the first tax's revenue to towns/villages based on population, and 16.67% (2027) and 33.33% (2028-2027) of the second tax's revenue to towns/villages with police departments based on full-time police officers - funds cannot be used for police salaries. The bill specifies these tax rates and revenue distribution mechanisms until November 30, 2027.
Exempts certain non-profit car-sharing organizations from the supplemental tax on passenger car rentals outside of the metropolitan commuter transportation district.
Establishes a cannabis processor tax credit; authorizes a tax credit that is the equivalent to the licensed processor's cannabis potency tax liability for the year two thousand twenty-three, multiplied by three, but shall not exceed four hundred thousand dollars.
