Budget & Taxes (Tax Credits)

in committee · New York · Senate Jan 7, 2026

S 1301: Relates to establishing a first permanent payroll employee tax credit

Establishes a first permanent payroll employee tax credit which allows a business to receive a tax credit for the three years following the employment of such business' first permanent payroll employee where such credit equals a portion of the amount it costs to employ such permanent payroll employee.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes business tax credit reducing employer costs, providing tax relief as per topic indicators95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 1850: Establishes a tax credit for personal property replacement as a result of bedbug infestation

Establishes a tax credit for personal property replacement as a result of bedbug infestation; credit of 15% not to exceed $750; certification determined by commissioner.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit (15% up to $750) for bedbug-related property replacement, offering tax relief to affected individuals.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 1490: Relates to providing an income tax credit for retired disabled police officers

This bill provides a $750 annual income tax credit for retired disabled police officers who were state police officers and are state residents. It applies to taxable years beginning January 1, 2026, and directly affects eligible retired officers by reducing their state income tax liability. If the credit exceeds the taxpayer's tax for the year, the excess is treated as an overpayment and refunded without interest. The credit is available automatically to qualifying retired officers meeting the disability and service criteria.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides $750 annual tax credit reducing liability for retired disabled officers, aligning with tax relief for specific group as per support indicators.95% confidence ✓ Criminal JusticeSupports Criminal JusticeProvides tax credit to retired disabled police officers, strengthening financial support for law enforcement personnel within criminal justice system.95% confidence

Sub-Topics Income Tax Tax Credits Policing

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in committee · New York · Senate Jan 7, 2026

S 5358: Establishes a tax credit for sewer lateral pipe replacement or repair

Establishes a tax credit for the replacement or repair of sewer lateral pipes by homeowners who use the home as their principal residence and have an income of less than two hundred fifty thousand dollars.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for homeowners under $250k income, reducing tax burden for middle-income residents.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 4698: Eliminates the cap on the maximum amount and the gross income requirement for the long-term care insurance credit

This bill eliminates two restrictions on New York's long-term care insurance tax credit. It removes the $1,500 annual maximum credit limit and the requirement that taxpayers must have less than $250,000 in adjusted gross income to qualify. The change applies to residents who pay premiums for qualifying long-term care insurance policies, allowing them to claim the full 20% credit on their premiums regardless of income level or premium amount. The policy takes effect for taxable years beginning January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesRemoves income cap and credit limit, expanding tax credit access and providing broader tax relief under tax policy.90% confidence ✓ HealthcareSupports HealthcareRemoves income and credit limits for long-term care insurance tax credit, expanding access to healthcare coverage for residents by allowing full 20% premium reimbursement regardless of income or premium amount.95% confidence

Sub-Topics Tax Credits Long-Term Care

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in committee · New York · Senate Jan 7, 2026

S 729: Relates to providing a tax credit for densified biomass fuel expenditures

Relates to providing a tax credit for densified biomass fuel expenditures; defines "qualified densified biomass fuel expenditures" and "densified biomass fuel".

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for biomass fuel expenditures, directly offering tax relief under Budget & Taxes policy.95% confidence ✓ EnergySupports EnergyProvides tax credit for renewable biomass fuel, directly promoting clean energy investment and aligning with renewable energy support indicators.95% confidence ✓ EnvironmentSupports EnvironmentTax credit for biomass fuel promotes renewable energy adoption, reducing fossil fuel dependence and aligning with clean energy environmental goals.85% confidence

Sub-Topics State Budget Tax Credits

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in committee · New York · Senate May 27, 2025

S 3182: Establishes a credit for the purchase and installation of a security alarm system

This bill creates a $250 tax credit for individual taxpayers who purchase and install qualifying security systems on their residential property. It directly affects homeowners who buy systems designed to detect intrusions or theft, such as alarms or surveillance devices, and must provide proof of purchase. The credit is available as a one-time reduction against income tax for taxable years beginning January 1, 2026, and applies only to systems installed on residential property. The bill does not change crime prevention laws but provides a financial incentive for homeowners to enhance security.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing homeowner tax burden, aligning with tax relief indicators for residential property owners.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 5644: Establishes a MWBE or SDVOBE subcontractor tax credit

This bill creates a 35% tax credit for contractors who pay certified minority/women-owned (MWBE) or service-disabled veteran-owned (SDVOBE) businesses for work on New York state contracts. It directly affects contractors working on state projects and certified MWBE/SDVOBE subcontractors operating within New York. The credit applies to payments made for professional services, trades, or supplier work under state contracts, and unused credit can carry over for up to three years. Contractors cannot switch subcontractors solely to claim this credit, and the credit cannot be used alongside other tax credits for the same subcontract.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a 35% tax credit for contractors using MWBE/SDVOBE subcontractors, directly using tax policy to incentivize business practices and promote fiscal inclusion within state contracting.92% confidence ✓ VeteransSupports VeteransBill creates 35% tax credit for SDVOBE contractors, directly supporting service-disabled veteran-owned businesses through state contract opportunities.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 5033: Relates to the volunteer firefighters' and ambulance workers' credit; repealer

Repeals the provision of law that volunteer firefighters and ambulance workers who receive a real property tax exemption for service may not receive the income tax credit for such service.

Topics ✓ Budget & TaxesSupports Budget & TaxesRepeals restriction preventing volunteer firefighters/ambulance workers from receiving income tax credit, providing tax relief for lower-income emergency workers.95% confidence

Sub-Topics Income Tax Property Tax Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 4886: Provides a tax credit for certain taxpayers who suffer the birth of a stillborn child

This bill (A 4886) creates a $2,000 refundable tax credit for New York taxpayers who experience the stillbirth of a child. It directly affects eligible parents who would have claimed the child as a dependent under federal tax law and have a stillbirth certificate issued under public health law. The credit is refundable (meaning it can result in a payment even if no tax is owed) and applies to taxable years beginning January 1, 2025. The bill requires a certificate of stillbirth from the public health law to qualify, but does not change dependency rules.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides refundable tax credit ($2,000) for stillbirth-related expenses, offering direct tax relief to eligible parents, aligning with tax relief indicators for middle/lower income.95% confidence

Sub-Topics Tax Credits

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