Budget & Taxes (Tax Incentives)

in committee · New York · Assembly Jan 7, 2026

A 6992: Relates to tax abatements for building owners in a city having a population of one million or more who complete exterior repairs

This bill, the "RESTORE Act," provides property tax abatements for building owners in cities with over one million residents (like New York City) who complete required facade repairs and remove associated scaffolding or sidewalk sheds within specific timeframes. Owners who finish repairs and remove scaffolding within three months receive a 50% tax break on eligible repair costs or property taxes, decreasing incrementally to 5% if completed within 12 months. Delays beyond 18 months trigger penalties, with fines up to 25% of annual property taxes. It directly affects building owners - including landlords, co-ops, and condo associations - by incentivizing timely repairs to meet NYC's facade safety requirements.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax abatements (50% tax break) to building owners for facade repairs, directly offering tax relief under state tax policy.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 4268: Creates a jobs development incentive income tax credit available to employers who employ individuals previously receiving unemployment

This bill creates a $2,400 tax credit for employers who hire individuals who previously received unemployment benefits in New York State. To qualify, an employee must have received unemployment benefits for at least two months, be hired for the first time by the employer, work at least 30 hours per week, and remain employed for 24 consecutive months. The credit is claimed after the 24-month employment period ends and can offset up to the employer's annual income tax liability, with unused portions carried forward for five years. It directly affects employers seeking to hire from the state's unemployment pool and unemployed individuals who meet the benefit and employment criteria.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates employer tax credit ($2,400) to incentivize hiring unemployed individuals, reducing tax liability and promoting job creation through targeted fiscal policy.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentIncentivizes hiring unemployed individuals, reducing unemployment and supporting job creation through tax credits.90% confidence

Sub-Topics Income Tax Tax Credits Tax Incentives Unemployment

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in committee · New York · Assembly May 18, 2026

A 6654: Relates to authorizing a reduction of taxes pursuant to shelter rent

Relates to authorizing a reduction of taxes pursuant to shelter rent; provides that upon consent of the local legislative body in a city with a population of one million or more such taxes may be reduced to five per centum or less, including a full reduction of the annual shelter rent or carrying charges of a project.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill authorizes tax reduction on shelter rent projects in NYC, directly providing tax relief per topic indicators.95% confidence ✓ HousingSupports HousingTax reduction on shelter rent projects in NYC likely lowers costs for affordable housing developments, aligning with housing affordability goals.90% confidence

Sub-Topics Tax Incentives Property Taxes Renters

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in committee · New York · Assembly Jan 7, 2026

A 4620: Expands the tax exemption for new farm buildings

This bill expands tax exemptions for new farm buildings to include structures used for on-farm retail sales of agricultural products like produce, honey, or maple syrup. Previously excluded, these retail buildings (e.g., farm stands or on-site sales areas) now qualify for the same tax exemption as other farm structures used for production or storage. The change directly benefits farmers who sell directly to consumers from their properties, reducing their property tax burden for qualifying retail facilities. The exemption applies to buildings used exclusively for selling farm-grown commodities, not for general retail operations.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax exemptions for farm retail buildings, reducing property tax burden for farmers selling directly to consumers, providing tax relief per fiscal policy indicators.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Assembly Jan 6, 2026

A 9132: Relates to the clergy property tax exemption

Provides that real property held in the cooperative form of ownership by a minister of the gospel, priest or rabbi of any denomination, an actual resident and inhabitant of this state, who is engaged in the work assigned by the church or denomination of which such person is a member, or who is unable to perform such work due to impaired health or is over seventy years of age, shall be exempt from taxation to the extent of fifteen hundred dollars; provides that certain properties receiving a tax exemption pursuant to the clergy property tax exemption are eligible to receive a partial abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides $1,500 property tax exemption for clergy, reducing tax burden per bill summary90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 2190: Provides motor fuel tax exemption for sales of diesel motor fuel made to commercial fishermen

Eliminates provisions of law that require the payment and subsequent refund of the ten cent diesel excise tax and sales tax on diesel motor fuel when sold to operators of commercial fishing vessels for use in the operation of such vessels.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts commercial fishermen from diesel tax, providing targeted tax relief per bill's explicit language.90% confidence

Sub-Topics Sales Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 3765: Establishes a sales tax exemption for background check fees

This bill (A 3765) exempts fees paid for national instant criminal background checks from state sales tax. It directly affects businesses and individuals who pay these fees - such as gun sellers, employers, or others requiring background checks - by removing the sales tax burden on those specific charges. The law amends tax code to add a new exemption category (paragraph 47) for fees imposed under Executive Law § 228. The exemption takes effect in the next sales tax quarter at least 90 days after the bill becomes law.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts background check fees from sales tax, providing direct tax relief per tax policy indicators.95% confidence

Sub-Topics Sales Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 6472: Relates to the definition of income for tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities

Relates to the definition of income for tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief for seniors/disabled through income-based tax abatement definition, aligning with tax relief for lower-income groups.90% confidence

Sub-Topics Tax Incentives

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failed · New York · Assembly Jan 7, 2026

A 7023: Provides for a sales and use tax exemption for items necessary for the care and safety of an infant or small child, and to allowing the city of New York to opt out of such tax exemption as applied to local taxes

Provides for a sales and use tax exemption for items necessary for the care and safety of an infant or small child, including, but not limited to strollers, car seats, infant and toddler mattresses, and cribs and to allowing the city of New York to opt out of such tax exemption as applied to local taxes by passing a resolution.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax exemption for essential child care items, reducing tax burden on families and aligning with tax relief for lower-income households.95% confidence

Sub-Topics Sales Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 6866: Increases the excelsior research and development tax credit

S 6866 increases the maximum Excelsior R&D tax credit for non-green projects from 6% to 20% of qualifying New York state research and development expenditures. This bill directly affects businesses participating in New York's Excelsior Jobs program that conduct R&D within the state. The key change allows eligible companies to claim a higher tax credit (up to 20%) on their New York-based R&D spending, while maintaining an 8% cap for green projects or Green CHIPS projects. The credit is calculated based on state R&D expenditures, including related wages, and applies to participants in the Excelsior program.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases R&D tax credit from 6% to 20%, providing tax relief to businesses and aligning with fiscal support indicators for tax incentives.95% confidence ✓ TechnologySupports TechnologyIncreases R&D tax credit to 20% for non-green tech projects, directly funding innovation in technology sector.95% confidence

Sub-Topics Tax Credits Tax Incentives

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