This bill would allow individuals to claim a federal tax deduction of up to $1,000 for costs related to fertility preservation services, specifically including the collection, freezing, preservation, and storage of eggs. It directly affects people who pay for these services, such as those undergoing fertility treatments before medical procedures or for personal preservation. The deduction applies to expenses that would otherwise count toward federal adjusted gross income, with the provision taking effect for taxable years beginning January 1, 2025. The bill defines "fertility preservation services" narrowly to cover only egg-related preservation methods.
This bill creates a $500 state tax credit for individuals who permanently relocate to the state to provide or receive reproductive care or gender-affirming care. It applies to healthcare providers moving from states with more restrictive abortion laws or gender-affirming care access, as well as patients (or their parents/guardians) relocating for the same reasons. The credit is available for tax years beginning January 1, 2025, and can be claimed on individual income tax returns. The credit cannot reduce tax liability below zero, but any excess is refundable. The bill defines "healthcare provider" to include licensed physicians, nurses, physician assistants, and pharmacists.
Provides a tax exemption from sales and compensating use taxes on alternative energy systems including alternative energy systems, new Energy Star appliances and tangible personal property used in or on habitable residential and non-residential structures to improve energy efficiency; defines relevant terms; authorizes municipalities to adopt the exemption.
This bill creates a refundable tax credit for renters and small homeowners in New York City (population over 1 million) who meet specific income and residency requirements. It provides credits ranging from $45 to $220 annually based on federal adjusted gross income (e.g., $220 for seniors earning $25,000 or less in 2026) and the number of dependents claimed. Qualifying individuals must reside in the city for six months, file taxes, and not claim rent deductions from family members. The credit can be claimed even if no tax is owed, with amounts increasing for households with dependents. This applies specifically to New York State residents in cities meeting the population threshold.
Bill A 3000, titled the State Operations Budget, appropriates funds for the ongoing operations of state government for the fiscal year beginning April 1, 2025. It allocates new money and reappropriates unspent funds from previous years to support various state agencies and their functions. A key provision allows the budget director to temporarily withhold certain payments if the state projects a general fund imbalance of $2 billion or more. However, specific payments like public assistance, debt service, and those mandated by federal law or court orders are exempt from these potential withholdings. The legislature is also given a period to propose an alternative plan before any withholdings take effect.
This bill amends New York State and New York City tax laws to adjust tax rates for small business income. It establishes tiered rates for businesses with "business income base" under $500,000, reducing rates from 6.5% (2026) to 4% (2027) and further to 2.5% (2028) for the base amount, with higher marginal rates for income above $400,000. It defines "small business" as sole proprietors with under $550,000 net income, or entities like LLCs/partnerships/S-corps with under $550,000 for farm businesses or $1.5 million for non-farm businesses. The changes apply to taxable years beginning on or after January 1, 2027, and would affect sole proprietors, small partnerships, LLCs, and S-corporations meeting the income thresholds.
This bill creates a tax credit for household pet owners, allowing a deduction for medical/veterinary costs and everyday expenses like food or grooming for up to two companion pets. It caps the credit at $150 annually for daily costs and $300 for medical expenses per pet, totaling a maximum $900 per household yearly. The credit applies to tax returns filed for 2026 and later, covering expenses for dogs or cats kept primarily for companionship (excluding service animals, research animals, or breeding operations). Proof of pet ownership and expenses will be required to claim the credit.
This bill prohibits state agencies from moving unspent money from funds that receive dedicated fees (like specific user fees) into other funds or using it for unrelated purposes. It applies directly to state funds that are legally required to keep money separate from general funds and spend it only for the specific purpose they were created for. The law requires these funds to remain distinct, preventing their unspent balances from being redirected to other programs or accounts. As a procedural budget rule, it focuses on fund management rather than new services or taxes.
This bill (S 1556) adjusts New York State personal income tax thresholds to automatically rise with inflation starting in 2026. It requires the state tax commissioner to increase key tax amounts - like income tax brackets, standard deductions, and certain calculation thresholds - each year using the federal Chained Consumer Price Index (C-CPI-U). This change directly affects all New York residents who file personal income tax returns, preventing their tax burden from increasing solely due to inflation. The adjustments will be rounded to the nearest $50 increment and take effect immediately, though the first adjustment applies to the 2026 tax year.
This bill suspends the sales tax on heating fuels for eligible seniors during winter months. It directly affects low-income residents aged 65+ who do not qualify for the Low Income Home Energy Assistance Program (LIHEAP) but have household income up to $500 above LIHEAP's income limit. The exemption applies to heating fuel purchases for home use in December, January, and February. The policy removes the tax burden on these specific seniors during the coldest months without altering existing LIHEAP eligibility rules.
