Budget & Taxes (Tax Incentives)

in committee · New York · Senate May 27, 2025

S 2390: Increases the tax exemption amount on clothing and apparel items from one hundred ten dollars to two hundred dollars

This bill increases the sales tax exemption threshold for clothing and footwear from $110 to $200 per item. It means shoppers will not pay sales tax on individual clothing items, shoes, or repair components costing less than $200. The change applies to new purchases and items used to repair clothing. The law will take effect on September 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax exemption threshold for clothing, providing direct tax relief to lower/middle-income shoppers on essential items.95% confidence

Sub-Topics Sales Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 1735: Relates to exemptions granted for alterations or rehabilitation

This bill amends New York's real property tax law to clarify requirements for tax exemptions on historic property renovations. It requires that property owners seeking exemptions for alterations or rehabilitation must: (1) own property designated as a landmark or contributing to a historic district, (2) ensure work serves historic preservation, (3) follow local preservation guidelines, and (4) get approval from the local preservation commission before starting work. Local governments (counties, cities, towns, or school districts) can also set their own rules, such as reducing exemption percentages or limiting eligibility. The changes apply to properties under local preservation jurisdiction and take effect immediately.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill clarifies tax exemption requirements for historic property renovations, enabling targeted tax relief while ensuring compliance with preservation guidelines.90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Senate Feb 23, 2026

S 655: Enacts the accountability for development assistance act

Enacts the accountability for development assistance act; standardizes applications for state development assistance; requires submission of certain development assistance agreements to the department of taxation and finance; requires recipients of certain development assistance to submit progress reports which include certain information and disclosures.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enforces corporate accountability for tax benefits via recapture and transparency, closing loopholes to strengthen fiscal management.92% confidence

Sub-Topics Tax Incentives Tags Economic Development

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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 · Senate Jan 7, 2026

S 4863: Relates to establishing the COVID-19 recovery local employment tax credit program

Establishes the COVID-19 recovery local employment tax credit program to provide tax incentives to employers for employing local employees in full-time or part-time positions in the two years following the conclusion of the state disaster emergency declared pursuant to executive order two hundred two.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes tax credit program providing tax relief to employers for hiring local workers, directly advancing tax incentive policy under Budget & Taxes.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides tax credits to employers for hiring local workers, directly incentivizing job creation and supporting employment recovery post-pandemic.85% confidence

Sub-Topics Business Taxes Sales Tax Tax Incentives

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in committee · New York · Assembly May 21, 2026

A 42: Establishes an exemption from taxation for energy-related public utility real property related to attaining state climate goals

Establishes an exemption from taxation for energy-related public utility real property related to attaining state climate goals; provides that such exemption shall remain in effect until it is retired or removed from service.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax exemption for climate-related utility property, offering tax relief aligned with fiscal strategy for climate goals.95% confidence ✓ EnergySupports EnergyTax exemption for climate-focused energy infrastructure incentivizes renewable investment, directly advancing state climate goals through financial support for clean energy utilities.95% confidence ✓ EnvironmentSupports EnvironmentTax exemption for climate-focused energy utilities directly incentivizes clean energy infrastructure to meet state climate goals, promoting environmental protection.90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 1707: Increases the tax exemption amount on clothing and apparel items from one hundred ten dollars to two hundred fifty dollars

This bill increases the tax exemption for clothing and apparel items from $110 to $250 per item. It directly affects shoppers purchasing clothing, shoes, or related repair items under the new threshold, making these purchases tax-free up to $250 per article. The key change updates a specific section of the tax law to raise the exemption amount, meaning customers pay no sales tax on qualifying items priced at $250 or less. The policy change simplifies the tax exemption structure without altering other tax rules.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax exemption for clothing, providing relief to shoppers on lower-cost items, aligning with tax relief for middle/lower income.95% confidence

Sub-Topics Procurement Sales Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 3878: Allows localities to grant an exemption from real property taxation for child day cares

This bill allows local governments (counties, cities, towns, villages, or school districts) to create a property tax exemption for licensed child day cares. Specifically, it permits localities to exempt up to 50% of a child care facility's assessed property value from real estate taxes, but only if the locality formally approves the exemption through a law or resolution. The exemption applies only to properties actively used for licensed child care operations, and ends if the property is no longer used for that purpose. Local governments may choose to offer a smaller exemption than 50% if they prefer.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax exemption (up to 50% of assessed value) for licensed child care facilities, offering tax relief to support essential childcare services.92% confidence

Sub-Topics Business Taxes Property Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 1877: Grants real property tax abatement to rent-controlled or rent regulated properties when the maximum authorized rent exceeds 1/2 of the tenants' household income

Authorizes application of the property tax abatement for rent-controlled or rent regulated properties occupied by senior citizens or disabled persons, to those units occupied by tenants paying the maximum allowable rent when such rent exceeds 1/2 of the household income; provides for state payments to cities affected thereby equal to 10% of lost real property tax revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax abatement for low-income tenants (rent >50% income) with state compensation for cities' lost revenue, aligning with tax relief for lower-income households.95% confidence ✓ HousingSupports HousingProvides tax abatement for rent-controlled units where rent exceeds 50% of tenant income, protecting low-income seniors/disabled tenants from unaffordable rents while compensating cities for lost revenue.95% confidence

Sub-Topics Property Tax Revenue Tax Incentives Affordable Housing Property Taxes Tenant Rights

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in committee · New York · Senate May 27, 2025

S 4819: Relates to a privately owned vacant property temporary public benefit use exemption

This bill would allow property owners in cities with over 1 million residents to temporarily exempt vacant lots from real estate taxes if used for public benefit purposes like community gardens, urban farms, or pop-up parks. The exemption requires at least 20 weekly hours of use during November-March and 25 hours during April-October. Property owners cannot receive any profit from these public uses to qualify for the exemption. The tax break applies only while the property serves the public benefit, ending if usage stops or profit is involved.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax exemption for property owners using vacant lots for public benefit, directly reducing tax liability as a fiscal policy tool.95% confidence

Sub-Topics Tax Incentives

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