Budget & Taxes

in committee · New York · Senate Jan 7, 2026

S 1093: Prohibits federal corporate bailout recipients who engage in stock buybacks from receiving New York state tax credits

Prohibits federal corporate bailout recipients who engage in stock buybacks from receiving New York state tax credits within three years of engaging in such buybacks.

Topics ✓ Budget & TaxesSupports Budget & TaxesCloses tax loophole for corporations receiving federal bailouts while engaging in stock buybacks, preventing state tax credit misuse and promoting fiscal responsibility.95% confidence

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in committee · New York · Senate Jan 7, 2026

S 4305: Authorizes documentary films for inclusion in the empire state film production tax credit

This bill expands New York's Empire State Film Production Tax Credit to include documentary films as eligible productions. It sets minimum budget requirements ($1 million for filming in specific counties, $250,000 elsewhere) for qualifying documentaries. The bill defines "qualified film" to explicitly include documentaries while excluding items like news programs, commercials, and stock footage. This change directly affects filmmakers producing documentaries in New York State who meet the budget and location criteria.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands film tax credit to include documentaries, providing tax incentive for producers, aligning with tax credit support indicators.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 2353: Relates to the payment of portions of certain settlement funds to the state's general debt service fund

This bill requires the state to deposit 5% of any settlement fund totaling $1 million or more directly into the state's general debt service fund, reducing the principal balance of the state's debt. It applies to settlement payments received by the state, such as those from lawsuits or legal agreements. The key provision mandates this automatic transfer without requiring additional legislative action for each settlement. The bill takes effect immediately upon enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesRedirects settlement funds to reduce state debt, promoting fiscal responsibility in budget management per bill's debt service fund provision.95% confidence

Sub-Topics Debt & Bonds

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in committee · New York · Assembly Jan 7, 2026

A 7478: Establishes a housing infrastructure tax credit to provide a credit of up to ten percent of costs for infrastructure projects

Establishes a housing infrastructure tax credit to provide a credit of up to ten percent of costs for infrastructure projects related to the construction of new homes or multiple dwellings commenced and completed within a specific time period.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes tax credit reducing tax burden for housing infrastructure projects, providing tax relief to incentivize development.90% confidence ✓ HousingSupports HousingTax credit for housing infrastructure projects incentivizes new home construction, directly supporting housing development and supply.85% confidence

Sub-Topics Tax Credits Affordable Housing Housing Finance

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failed · New York · Assembly Jun 4, 2026

A 452: Establishes the retire strong tax credit for certain individuals age 65 or older

Establishes the retire strong tax credit for certain individuals age 65 or older; authorizes a tax credit amounting to half the qualifying real property taxes paid by such individual for the taxable year, up to $6,500.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for seniors reducing property tax burden, aligning with tax relief support for lower-income retirees.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 1231: Relates to the creation of the New York farm to school and school garden fund

Relates to the creation of the New York farm to school and school garden fund; allows individuals to make a gift on their personal tax form for such fund; provides such fund will be used to establish school gardens and purchase equipment and educational materials to promote students' consumption of local products conducted in cooperation with the department of agriculture and markets.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enables tax form donations to fund school gardens/educational programs, directly advancing public service funding via tax mechanism.95% confidence ✓ EducationSupports EducationCreates fund for school gardens and educational materials, enhancing K-12 student programs through local food curriculum and infrastructure funding.90% confidence

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in committee · New York · Assembly Jan 7, 2026

A 4618: Establishes business franchise and personal income tax credits for capital investments made in certain small businesses

This bill creates a tax credit for small businesses making capital investments in qualifying locations. It provides a 25% credit against business franchise tax (not personal income tax) on qualified investments, for businesses located in villages or cities with under 35,000 residents. To qualify, a business must employ fewer than 15 people and make eligible capital investments. Unused credit amounts can be carried forward to future tax years, but cannot reduce tax below the minimum amount specified in existing tax law.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 25% tax credit against business franchise tax for small businesses in qualifying locations, reducing tax liability for eligible entities per bill's explicit language.95% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives Tags Small Business

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in committee · New York · Senate Jan 7, 2026

S 8582: Requires e-commerce platforms to include a feature whereby consumers may filter for products made in the United States of America; and provides a tax credit for compliance or sale of certain products

Requires e-commerce platforms to include a feature whereby consumers may filter for products made in the United States of America; provides for a tax credit for online marketplace providers or online retailers who include such filter, or who sell products made in New York state, in the amount of state sales taxes for such products.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for e-commerce platforms complying with product filter, reducing tax burden for businesses selling U.S./NY products.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Senate Feb 10, 2026

S 7641: Designates revenue collected by the opioid excise tax for the New York state drug treatment and public education fund

Senate Bill S 7641 designates where revenue from the existing opioid excise tax in New York State will be allocated. It specifies that all taxes, interest, and penalties collected from this tax, after accounting for any refunds, will be deposited into the New York State Drug Treatment and Public Education Fund. This mechanism ensures that funds generated by the opioid excise tax are directly used to support drug treatment and public education initiatives throughout the state.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill directs existing opioid tax revenue to fund drug treatment and public education programs, advancing public service funding through fiscal allocation.95% confidence ✓ HealthcareSupports HealthcareDesignates opioid tax revenue to fund drug treatment and public education initiatives, directly increasing healthcare funding for substance abuse treatment programs.95% confidence

Sub-Topics Sales Tax Substance Abuse

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in committee · New York · Assembly Jan 7, 2026

A 1961: Establishes a certified transitional tax credit

Establishes a certified transitional tax credit for taxpayers that demonstrate their agricultural products were sold during a period of transition into USDA organic certification, under the Whole Foods Market IP. L.P. "responsibly grown" labelling program, or under the QAI and Hesco, Inc. "certified transitional" label.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes tax credit for agricultural transition, providing tax relief under organic certification programs, directly advancing tax policy.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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