Budget & Taxes (Tax Credits)

in committee · New York · Senate Jan 7, 2026

S 375: Relates to the tax deduction for costs associated with organ donation

Allows a taxpayer or the spouse of a taxpayer to deduct costs related to the taxpayer's organ donation; includes child care costs within such allowable costs.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates new tax deduction for organ donation costs, reducing taxable income - direct tax relief measure for taxpayers.95% confidence ✓ HealthcareSupports HealthcareAllows tax deductions for organ donation costs, reducing financial barriers to healthcare-related activities and encouraging organ donation participation.85% confidence

Sub-Topics Income Tax Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 3997: Relates to amending the low income housing tax credit eligibility requirements

Amends the low income housing tax credit eligibility requirement to at least sixty percent of residential units be both rent-restricted and occupied by individuals whose income is one hundred twenty-five percent or less of area median gross income.

Topics ✓ Budget & TaxesSupports Budget & TaxesAmends tax credit eligibility to target lower-income housing, directing tax benefits toward affordable housing programs for residents at 125% AMI.92% confidence ✓ HousingSupports HousingMandates 60% of LIHTC units be rent-restricted for households at 125% AMI, directly expanding affordable housing access through tax credit requirements.95% confidence

Sub-Topics Tax Credits Tax Incentives Affordable Housing Historic Preservation Housing Finance

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in committee · New York · Senate Jan 7, 2026

S 4438: Establishes a hydroelectric power tax credit

This bill creates a tax credit allowing taxpayers to offset 50% of licensing or relicensing fees paid to state or federal agencies for hydroelectric power projects. It directly affects businesses and developers subject to taxes under specific sections of the tax code (articles 9, 9-A, 22, and 33). The credit can be applied against income taxes, with unused portions carried forward to future tax years if it reduces taxes below minimum thresholds. The bill modifies multiple tax code sections to implement this credit and its carryover rules.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit reducing business tax liability for hydroelectric projects, providing direct fiscal relief under tax policy.90% confidence ✓ EnergySupports EnergyTax credit directly incentivizes hydroelectric (renewable) project development, aligning with renewable energy promotion and clean energy infrastructure funding indicators.95% confidence ✓ EnvironmentSupports EnvironmentTax credit for hydroelectric power promotes renewable energy development, directly advancing clean energy adoption per environmental protection indicators.90% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Hydroelectric

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in committee · New York · Senate Jan 7, 2026

S 4455: Establishes a tax credit for taxpayers who donate equipment or materials to first responder live training programs

This bill creates a tax credit for taxpayers who donate equipment or materials to first responder training programs. The credit equals the donated items' value (up to $3,000 per tax year) for programs involving police, fire, emergency services, or hospital staff using real-world scenario training outdoors. Donors must provide proof of the donation's value, the training's occurrence, and that the recipient organization requested the items. The credit applies to donations made during the tax year, with documentation requirements to verify eligibility.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit (up to $3k) for donations to first responder training, reducing taxable income - direct tax relief supporting public safety funding.90% confidence ✓ Criminal JusticeSupports Criminal JusticeBill provides tax credit for equipment donations to police/fire training programs, directly funding first responder capacity within criminal justice system.90% confidence

Sub-Topics Tax Credits Tax Incentives Policing

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in committee · New York · Assembly Jan 7, 2026

A 4012: Creates a work opportunity tax credit

This New York state bill creates a work opportunity tax credit for employers hiring New York residents in targeted groups (such as veterans or long-term unemployed individuals, as defined by federal law). Employers can claim a 100% credit against state tax for qualified wages paid to these employees, capped at $500 per employee annually. The total credit is limited to $90 million across all taxpayers, with the program expiring December 31, 2028. It applies to wages paid after April 1, 2026, and cannot overlap with other state tax credits for the same wages.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for employers hiring targeted groups (veterans/long-term unemployed), reducing state tax revenue to incentivize employment, aligning with tax relief for lower-income support.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill creates tax credit for employers hiring targeted groups (veterans, long-term unemployed), incentivizing job creation and expanding employment opportunities for underrepresented workers.95% confidence ✓ VeteransSupports VeteransBill explicitly targets veterans as a qualified group for a 100% employment tax credit, directly supporting veteran workforce integration.95% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 853: Establishes the New York manufacturing adequate domestic equipment credit (NY MADE)

S 853 creates a New York State tax credit called "NY MADE" for manufacturers producing medical equipment or personal protective equipment (PPE) within New York. The credit equals 20% of the wholesale value of qualifying equipment produced above the 2025 average for existing manufacturers, or 30% for new manufacturers starting production after the bill's enactment. It applies to taxable years beginning January 1, 2026, and is designed to support in-state manufacturing of healthcare-related equipment. The bill specifically defines "medical equipment" as devices used for treating illness or injury, excluding general-purpose items.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing liability for healthcare manufacturers, aligning with tax relief indicators for business incentives.95% confidence ✓ HealthcareSupports HealthcareProvides tax incentives for in-state manufacturing of medical equipment/PPE, strengthening healthcare supply chain infrastructure and supporting healthcare-related production.85% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 520: Establishes a forestry stewardship and habitat conservation credit for personal income and business franchise taxes

Bill A 520 creates a tax credit allowing New York landowners to deduct 25% of real property taxes paid on land enrolled in forestry stewardship or habitat conservation programs. To qualify, land must be at least 25 contiguous acres, inspected by DEC-certified biologists, and committed to a 5-year conservation agreement with the Department of Environmental Conservation. The credit is capped at $10,000 annually per taxpayer and applies to personal income and business franchise taxes. Landowners must follow approved conservation plans and record agreements with local authorities to maintain eligibility.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing liability for conservation landowners, providing tax relief under fiscal policy.95% confidence ✓ EnvironmentSupports EnvironmentCreates tax credit for conservation programs, incentivizing habitat protection and forestry stewardship, directly advancing environmental conservation goals.95% confidence

Sub-Topics Tax Credits Conservation Forestry

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in committee · New York · Senate Jan 7, 2026

S 4026: Creates a disabled person retrofit tax credit

Creates a disabled person retrofit tax credit; provides a tax credit that is equal to thirty percent of the cost of expenditures, up to $5,000 for making qualified improvements.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit (30% up to $5k) for disabled retrofit costs, offering direct tax relief to lower-income individuals through targeted fiscal incentive.95% confidence

Sub-Topics Tax Credits Tax Incentives Tags People with Disabilities

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in committee · New York · Assembly Jan 7, 2026

A 138: Relates to providing a tax credit for spay or neuter services

This bill creates a tax credit for individual taxpayers who pay for spay or neuter services for cats or dogs. It allows an 80% credit on the actual cost, up to a maximum $200 per pet per tax year, for services performed by a licensed veterinarian in the state. Taxpayers must provide a receipt showing the cost to claim the credit, which applies to tax years beginning on or after January 1, 2025. The credit is available for spay/neuter services rendered in taxable years starting in 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing taxable income for pet owners, providing direct tax relief aligned with fiscal support for middle-income households.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 3420: Provides a tax credit in the amount of certain fees charged in connection with loans under the federal home loan guarantee program to national guard and reserve vets

Provides a tax credit in the amount of certain fees charged in connection with loans under the federal home loan guarantee program to national guard and reserve veterans.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for veterans' loan fees, reducing tax burden - direct tax relief aligning with support indicators.95% confidence ✓ VeteransSupports VeteransProvides tax credit for National Guard/Reserve veterans' home loan fees, expanding financial benefits for veterans under federal loan programs.95% confidence

Sub-Topics Tax Credits National Guard & Reserve

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