Budget & Taxes

in committee · New York · Senate Jan 7, 2026

S 5262: Creates an in vitro fertilization treatment tax credit

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.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates IVF tax credit, providing tax relief directly impacting tax policy and aligning with tax incentive indicators.95% confidence ✓ HealthcareSupports HealthcareProvides tax credit for IVF treatment, reducing out-of-pocket costs and improving access to fertility healthcare services.95% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 375: Relates to the tax deduction for costs associated with organ donation

Allows a taxpayer or the spouse of a taxpayer to deduct costs related to the taxpayer's organ donation; includes child care costs within such allowable costs.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates new tax deduction for organ donation costs, reducing taxable income - direct tax relief measure for taxpayers.95% confidence ✓ HealthcareSupports HealthcareAllows tax deductions for organ donation costs, reducing financial barriers to healthcare-related activities and encouraging organ donation participation.85% confidence

Sub-Topics Income Tax Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 3506: Provides for a personal income tax deduction for certain well water testing

Provides for a personal income tax deduction, once every three years up to six hundred dollars, for the testing of potable well water by a certified laboratory.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax deduction for well water testing, offering relief to homeowners through reduced taxable income, aligning with tax relief indicators.95% confidence

Sub-Topics Income Tax

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in committee · New York · Senate Jan 7, 2026

S 3997: 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 target lower-income housing, directing tax benefits toward affordable housing programs for residents at 125% AMI.92% confidence ✓ HousingSupports HousingMandates 60% of LIHTC units be rent-restricted for households at 125% AMI, directly expanding affordable housing access through tax credit requirements.95% confidence

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

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in committee · New York · Assembly Jan 7, 2026

A 2343: Exempts veterans eighty-five years of age and older from the obligation to pay New York state income tax

This bill (A 2343) exempts New York State residents who are veterans aged 85 or older from paying state income tax on their gross income. It directly affects qualifying veterans who are at least 85 years old as of December 31 of the tax year, regardless of their federal tax status. The law changes the tax code to automatically exclude their income from state taxation starting in 2027, applying to all taxable income without requiring additional federal tax considerations. The exemption becomes effective for tax years beginning on or after January 1, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts eligible veterans from state income tax, providing direct tax relief per support indicators for lower-income tax relief.95% confidence ✓ VeteransSupports VeteransExempts veterans 85+ from state income tax, providing direct financial benefit and expanding veteran tax relief.95% confidence

Sub-Topics Income Tax

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in committee · New York · Senate Jan 7, 2026

S 4438: Establishes a hydroelectric power tax credit

This bill creates a tax credit allowing taxpayers to offset 50% of licensing or relicensing fees paid to state or federal agencies for hydroelectric power projects. It directly affects businesses and developers subject to taxes under specific sections of the tax code (articles 9, 9-A, 22, and 33). The credit can be applied against income taxes, with unused portions carried forward to future tax years if it reduces taxes below minimum thresholds. The bill modifies multiple tax code sections to implement this credit and its carryover rules.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit reducing business tax liability for hydroelectric projects, providing direct fiscal relief under tax policy.90% confidence ✓ EnergySupports EnergyTax credit directly incentivizes hydroelectric (renewable) project development, aligning with renewable energy promotion and clean energy infrastructure funding indicators.95% confidence ✓ EnvironmentSupports EnvironmentTax credit for hydroelectric power promotes renewable energy development, directly advancing clean energy adoption per environmental protection indicators.90% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Hydroelectric

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in committee · New York · Senate Jan 7, 2026

S 4196: Enacts a highway use tax on fuel-efficient vehicles; repealer

Enacts a highway use tax on fuel-efficient vehicles which get at least 30 miles per gallon; requires the installation of an on-board unit to record miles travelled; reimburses vehicle owners for gas tax through a credit against highway tax; deposits moneys into the dedicated highway and bridge trust fund.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates highway use tax with gas tax credit, funds highway trust fund - advances infrastructure funding through new tax mechanism90% confidence ✓ TransportationSupports TransportationBill funds highway infrastructure by enacting tax on fuel-efficient vehicles, directing revenue to highway trust fund while reimbursing owners for gas tax.95% confidence

Sub-Topics Sales Tax Electric Vehicles Roads & Highways Transportation Funding

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in committee · New York · Assembly Jan 7, 2026

A 2082: Relates to pension income and tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities

This bill changes how property taxes are calculated for seniors and people with disabilities living in rent-controlled or rent-regulated housing. It allows their pension benefits (including Social Security, retirement payments, and disability benefits) to be counted as income for tax purposes, potentially lowering their property tax burden. The key mechanism revises income calculation rules to exclude gifts, inheritances, and certain pension increases tied to inflation, while including eligible benefits. To qualify, households must have an existing rent increase exemption order (granted before July 1, 2024) and the new calculation must show lower taxes than the previous method.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax relief for seniors/disabled renters by counting pension income in tax calculations, lowering their burden per bill summary.95% confidence ✓ HousingSupports HousingBill lowers property tax burden for seniors/disabled in rent-controlled housing via pension income inclusion, strengthening tenant affordability protections.90% confidence

Sub-Topics Pensions Property Tax Tax Incentives Property Taxes Renters Tenant Rights

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in committee · New York · Senate Jan 7, 2026

S 5966: Creates tax parity by imposing a six percent tax on all combative sport event ticket sales

Creates tax parity by imposing a six percent tax on all combative sport event ticket sales; taxes gross receipts from broadcasting rights and digital streaming over the internet of combative sport events.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes new tax on combative sports events, generating state revenue to support budget. No indication of tax relief for lower income or cuts to services.95% confidence

Sub-Topics Business Taxes Sales Tax

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in committee · New York · Assembly Jan 7, 2026

A 50: Enacts the New York city arts space act

This bill creates tax benefits for buildings in New York City that provide affordable space for arts organizations. It directly affects eligible nonprofit arts groups (tax-exempt under IRS 501(c)(3)) and building owners who rent space to them. Key provisions require rent to stay at or below $20 per square foot annually, with higher tax exemptions for lower rents - up to 100% tax exemption for spaces rented at $10/sq ft or less, provided owners offer tenant improvements. The benefits apply for the duration of the lease, with specific rules to maintain affordability and meet city zoning requirements.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax exemptions (up to 100%) for buildings renting to arts groups at low rents, directly reducing taxable income for qualifying properties.95% confidence ✓ HousingSupports HousingBill creates tax incentives for affordable arts space (rent ≤ $20/sq ft, 100% exemption at $10/sq ft), directly advancing affordable housing for nonprofit arts organizations.95% confidence

Sub-Topics Tax Incentives Property Taxes Renters Zoning

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