Establishes a returning veterans tax credit for businesses that hire veterans and disabled veterans; provides that such tax credit is worth $3,000 per veteran hired or $4,000 for every disabled veteran hired and the total benefit shall not exceed $15,000 annually.
Relates to establishing an abatement and exemption from real property taxes for capital improvements to reduce carbon emissions; establishes an energy efficiency improvement board to approve the abatements and exemptions.
This bill exempts breast pumps, breast pump replacement parts, collection supplies, and breast pump kits from sales and use taxes when purchased by individuals for home use during breastfeeding. It specifically covers items like electric or manual pumps, related parts (e.g., shields, tubes), storage bags, and kits containing these products. The law clarifies definitions to ensure only breastfeeding-specific items qualify for the exemption, excluding standard infant bottles or unrelated supplies. This change directly reduces out-of-pocket costs for mothers purchasing these essential lactation products.
This bill increases residential solar tax credits by raising the credit rate to 26% of qualified solar equipment costs. It sets new annual credit limits: $3,750 for systems installed before 2026, $5,000 for 2026-2025, and $10,000 for systems installed on or after January 1, 2026. The credit applies to homeowners who install qualifying solar systems (including equipment for heating, cooling, hot water, or electricity) at their primary residence, covering equipment purchases, installation, and certain lease agreements. Low-income taxpayers and those in disadvantaged communities may receive refunds for excess credits starting in 2026, rather than carrying them forward. The policy directly affects residential property owners installing solar energy systems in the state.
Establishes a tree removal and emerald ash elimination credit; provides that the aggregate amount of tax credits allowed in any calendar year statewide shall be ten million dollars.
This bill creates a property tax abatement for buildings in cities with over 1 million residents that install equipment capturing and reusing carbon dioxide emissions. Property owners can reduce their annual property taxes by up to $100,000 (or 5% of eligible equipment costs, whichever is lower) for qualifying carbon-to-value systems placed in service between 2025 and 2030. To qualify, the equipment must demonstrably reduce emissions through verified life cycle assessments, cannot be installed in designated environmental justice areas, and must meet specific technical requirements like carbon storage for 100+ years. The abatement applies only to "class four" real property in eligible cities and requires certification by the city's designated agency.
This bill exempts community colleges from paying the metropolitan commuter transportation mobility tax. It directly affects community colleges by removing this tax obligation, which previously applied to some educational institutions. The key change is amending tax law to explicitly include community colleges in the definition of "eligible educational institution" that qualifies for the exemption. This policy change ensures community colleges are now covered under the existing tax exemption, aligning them with other public educational institutions.
This bill repeals section 28 of the tax law, which previously provided a production credit for biofuels. It directly affects biofuel producers who relied on this tax credit to reduce their tax liability. The repeal removes the credit from the tax code, effective for taxable years beginning after the bill's effective date (January 1 following enactment). This is a concrete policy change altering tax treatment, not a procedural or commemorative measure.
Enacts the "data economy labor compensation and accountability act"; establishes the office of consumer data protection for the purpose of properly safeguarding personal data; imposes a tax on data controllers and data processors required to register with such office.
Creates the New York state home ownership savings plan; creates a property tax exemption related thereto; creates exemptions for properties purchased in target areas with a New York state home ownership savings plan.
