Budget & Taxes (Tax Credits)

in committee · New York · Assembly Jan 7, 2026

A 8164: Provides a tax credit for the installation of fire sprinkler systems

Bill A 8164 proposes a tax credit for residential property owners who install fire sprinkler systems. The credit would cover 25% of the labor and material costs for these installations. This benefit is specifically available for properties located in municipalities that do not already require fire sprinkler systems. If the credit amount exceeds a taxpayer's owed taxes, the remaining balance will be refunded.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit (25% of costs) for residential fire sprinkler installations, reducing tax burden for homeowners in qualifying municipalities.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 4183: Establishes a personal income tax credit for taxpayers who donate blood to a blood bank four or more times in a year

Establishes a personal income tax credit for taxpayers who donate blood to a blood bank four or more times in a year; specifies such tax credit to be five hundred dollars.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a $500 personal income tax credit, providing direct tax relief for eligible donors, aligning with tax policy support indicators.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 2498: Increases the earned income tax credit

This bill increases New York State's earned income tax credit (EITC) for tax returns filed in 2025 and later, raising the credit percentage from 30% to 45% of the federal EITC amount. It directly affects low-to-moderate income workers and families who qualify for the state EITC, primarily those with children or who meet income thresholds. The bill adds new payment options: small credits ($200 or less) are paid as a lump sum, medium credits ($200-$2,400) as three quarterly payments, and larger credits ($2,400+) as monthly installments. The changes take effect for taxable years beginning January 1, 2025, and are implemented through updated tax law provisions.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases state EITC for low-to-moderate income earners, providing tax relief as a key support indicator per bill's explicit 45% credit increase.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentIncreases state EITC for low-to-moderate income workers/families, expanding financial benefits directly supporting labor income standards and worker welfare.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 5992: Creates a small business electric energy tax credit

Creates a small business electric energy tax credit; specifies that the amount of credit shall be equal to the product of $0.02 per kilowatt hour; sets limit of no more than 19 full-time employees in New York state; determines that if the business is located at the primary residence of a sole proprietor, the business is not eligible for the tax credit.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing small business tax liability, providing targeted tax relief for eligible entities per bill's explicit language and fiscal support indicators.95% confidence ✓ EnergySupports EnergyCreates tax credit for small business electricity use, incentivizing energy consumption and supporting clean energy adoption through financial relief for eligible businesses.90% confidence ✓ EnvironmentSupports EnvironmentTax credit for electric energy use promotes clean energy adoption, aligning with environmental protection goals by incentivizing reduced fossil fuel reliance.85% confidence

Sub-Topics Business Taxes Tax Credits Tags Small Business

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in committee · New York · Senate Jan 7, 2026

S 5098: Provides a tax credit for certain durable medical equipment

Provides a tax credit for certain durable medical equipment equal to fifty percent of the cost to purchase and install durable medical equipment in a residence.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 50% tax credit for medical equipment, reducing tax burden for individuals - aligns with tax relief support indicator.90% confidence ✓ HealthcareSupports HealthcareProvides 50% tax credit for durable medical equipment purchases, improving patient access to essential healthcare tools and reducing out-of-pocket costs.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 4008: Authorizes the trading of existing but unused research and development credits and existing but unused net operating loss deductions to existing entities

Authorizes the trading of existing but unused research and development credits and existing but unused net operating loss deductions to existing corporations and partnerships in return for private assistance; enacts the "Small New York Based High-Technology Business Investment Tax Credit Act".

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for high-tech businesses, enabling tax relief and investment incentives through unused credits, aligning with fiscal policy goals.95% confidence ✓ TechnologySupports TechnologyCreates tax credit for high-tech businesses via 'Small New York Based High-Technology Business Investment Tax Credit Act', directly funding technology sector growth.95% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 7214: Relates to creating a college preparation expense tax credit

Creates a college preparation expense tax credit for up to three years per child/individual for up to $500 per year for qualified college preparation expenses.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing liability for college prep expenses, providing direct tax relief per bill summary.95% confidence ✓ EducationSupports EducationCreates tax credit for college preparation expenses, reducing costs for students and expanding access to higher education preparation. Directly supports educational access as defined in topic.95% confidence

Sub-Topics Tax Credits Higher Education School Choice Student Financial Aid

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in committee · New York · Senate Jan 7, 2026

S 691: NY local food and products sourcing tax credit

This bill creates a tax credit for New York businesses that source a significant portion of their products locally. Businesses with taxable sales in New York can claim a credit (ranging from $1,500 to $25,000) based on the percentage of their net sales from locally produced food or goods - defined as products grown, raised, or made within New York by eligible producers (excluding wholesalers/distributors). To claim the credit, businesses must submit a report with their tax return detailing the producer's name, location, purchase amounts, and units bought. The credit cannot be carried forward to future tax years.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing business tax liability for local sourcing, aligning with tax relief and economic incentive policies under Budget & Taxes.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 4454: Creates a tax credit for instructors of a hunting safety course

S 4454 creates a $300 annual tax credit for New York residents who serve as active instructors in state-approved hunting safety courses, effective for tax years beginning January 1, 2026. The credit applies to individual instructors or up to $600 for married couples filing jointly who both qualify. To claim the credit, instructors must maintain proof of course approval for five years and be active throughout the tax year. Excess credits beyond tax liability are treated as overpayments without interest, and failure to provide documentation during an audit results in a fine equal to the credit amount.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $300 tax credit for hunting safety instructors, providing direct tax relief aligned with support indicators for middle-income tax relief.95% confidence

Sub-Topics Audits & Accountability Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 286: Establishes a historic wood window rehabilitation and energy retrofit tax credit

Establishes a historic wood window rehabilitation and energy retrofit tax credit of up to 25% of the expenditures paid or incurred within the five years preceding the year in which the tax credit is applied.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 25% tax credit for historic window energy retrofits, providing direct tax relief to property owners through fiscal incentive.95% confidence ✓ EnergySupports EnergyBill provides tax credit for energy retrofits (25% of costs), directly advancing energy efficiency in historic buildings per summary.90% confidence ✓ EnvironmentSupports EnvironmentTax credit for energy retrofits promotes building efficiency, reducing energy consumption and emissions through incentives for historic window rehabilitation.85% confidence

Sub-Topics Tax Credits

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