Budget & Taxes (Tax Incentives)

passed both · New York · Assembly Jun 1, 2026

A 6790: Relates to tax credits for volunteer firefighters and volunteer ambulance workers

Provides that for taxable years beginning on and after January first, two thousand twenty-six, a resident taxpayer who serves as an active volunteer firefighter or as a volunteer ambulance worker shall be allowed a credit against the tax imposed equal to eight hundred dollars; provides for a real property tax exemption under certain circumstances to an enrolled member of an incorporated volunteer fire company, fire department or incorporated voluntary ambulance service residing in such city, village, town, school district, special district, fire district or county.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides $800 tax credit for volunteer firefighters/ambulance workers, reducing their tax burden - tax relief for specific community members95% confidence

Sub-Topics Property Tax Tax Incentives

Track

died · New York · Senate Jun 1, 2026

S 6233: Relates to tax credits for volunteer firefighters and volunteer ambulance workers

Provides that for taxable years beginning on and after January first, two thousand twenty-six, a resident taxpayer who serves as an active volunteer firefighter or as a volunteer ambulance worker shall be allowed a credit against the tax imposed equal to eight hundred dollars; provides for a real property tax exemption under certain circumstances to an enrolled member of an incorporated volunteer fire company, fire department or incorporated voluntary ambulance service residing in such city, village, town, school district, special district, fire district or county.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides $800 tax credit for volunteer firefighters/ambulance workers, reducing their tax burden (tax relief for lower-income volunteers).95% confidence

Sub-Topics Property Tax Tax Incentives

Track

in committee · New York · Senate Jan 7, 2026

S 2385: Relates to enhanced aid and incentives for municipalities

Relates to enhanced aid and incentives for municipalities; provides that enhanced aid and incentives for municipalities will be apportioned to eligible municipalities by the director of the budget on a per-capita basis, based on population.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates enhanced state aid to municipalities based on population, increasing funding for local government budgets and public services.95% confidence

Sub-Topics Tax Incentives

Track

in committee · New York · Senate Jan 7, 2026

S 5422: Exempts from sales and use tax zero-emission school buses

S 5422 exempts zero-emission school buses and all necessary parts/equipment for their operation from New York's sales and use tax. This directly affects school districts and bus purchasers by removing a cost barrier when buying or maintaining electric or hydrogen-powered school buses. The bill adds a specific tax exemption to the tax law, applying to buses defined in education law §3638. It will take effect during the first sales tax period starting after 30 days from when the bill becomes law.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts zero-emission school buses from sales tax, providing direct tax relief to public school districts purchasing these vehicles.95% confidence ✓ EducationSupports EducationExempts zero-emission school buses from sales tax, reducing costs for school districts' transportation infrastructure - a key educational access and infrastructure component.90% confidence ✓ TransportationSupports TransportationExempts zero-emission school buses from sales tax, removing cost barriers for electric/hydrogen buses and promoting sustainable transportation infrastructure.95% confidence

Sub-Topics Sales Tax Tax Incentives Electric Vehicles Public Transit

Track

in committee · New York · Assembly Jan 7, 2026

A 175: Creates a tax credit for businesses that develop a "college to work" program, paying the tuition of individuals in exchange for future employment

Creates a tax credit for businesses that develop a "college to work" program, paying the tuition of individuals in exchange for the individual committing to work for the business after the individual's graduation from an institution of higher learning; provides the tax credit shall be for twenty-five percent of the individual's tuition expenses not to exceed five thousand dollars.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 25% tax credit for businesses (up to $5k/tuition), reducing tax liability and incentivizing private sector investment in education programs.95% confidence ✓ EducationSupports EducationBill creates tax credit for business-funded tuition in higher education, directly enhancing access and reducing student costs through employer partnerships.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill provides tax credit funding for business-sponsored education-to-employment programs, advancing workforce development and job placement opportunities.92% confidence

Sub-Topics Tax Credits Tax Incentives

Track

in committee · New York · Senate May 27, 2025

S 2571: Increases the tax exemption for pensions and annuities for persons age fifty-nine and one-half or greater

Increases the tax exemption for pensions and annuities for persons age fifty-nine and one-half or greater from $20,000 to $25,000 in 2027, $30,000 in 2028, $35,000 in 2029 and $40,000 for each subsequent year.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax exemption for retirees (age 59.5+), providing direct tax relief by raising exemption limits from $20k to $40k over time.95% confidence

Sub-Topics Pensions Tax Incentives

Track

in committee · New York · Senate Jan 7, 2026

S 4095: Creates the empire state music production tax credit

S 4095 creates a tax credit for music production companies in New York State, allowing eligible businesses to deduct 25% of qualified production costs from their state taxes. To qualify, music must be primarily produced and recorded in New York with costs exceeding $25,000 per project, and companies with annual costs over $100,000 (employing at least 10 New York residents) may claim credits collectively. Eligible costs include studio rentals, equipment, musician fees, and production-related travel, but exclude royalties, live concerts, marketing, and distribution. The credit is capped at $25 million annually, allocated by the Empire State Development Corporation based on application date, with no single company receiving more than 10% of the total.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit allowing businesses to deduct 25% of production costs, providing direct tax relief to incentivize industry growth within state budget framework.90% confidence

Sub-Topics Tax Credits Tax Incentives

Track

in committee · New York · Senate Jan 7, 2026

S 4019: Exempts improvement to historic property from taxation if certified and agreed by appropriate agency

Encourages the preservation and viewing of historic properties by allowing an exemption from local real estate tax in cities of a million or more population, for improvements to historic real property and by requiring certain public access to such property; defines the term "historic real property" as a one, two or three family residence which is owner-occupied and designated by the appropriate agency as a historic landmark and such designation is maintained.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax exemption for historic property improvements, reducing local real estate tax liability for owner-occupied homes. Directly impacts taxation policy by offering tax relief.90% confidence ✓ HousingSupports HousingBill provides tax exemption for historic residential properties, protecting property rights within housing policy as defined in topic description.80% confidence

Sub-Topics Property Tax Tax Incentives Historic Preservation Homeownership Property Taxes

Track

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

Track

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

Track