Budget & Taxes (Tax Credits)

in committee · New York · Senate Jan 7, 2026

S 4481: Creates an adoption tax credit

This bill creates a state tax credit for adoptive parents. It allows New York resident taxpayers to claim a credit equal to 50% of qualified adoption expenses (such as fees, court costs, and attorney fees) up to $10,000 per adoption. Any unused credit amount can be carried forward to future tax years. The credit applies to taxable years beginning January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for adoptive parents, providing tax relief and aligning with support indicators for budget/tax policy.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 2347: Creates a small business grid renewable energy tax credit

Creates a small business renewable tax credit; provides the term "business related renewable energy usage" shall refer to renewable power usage used to further the economic activity of the taxpayer at the primary business location that is clearly delimited from any shared renewable energy power usage cost.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a tax credit for small businesses using renewable energy, providing direct tax relief which aligns with supporting tax relief for businesses under Budget & Taxes.95% confidence ✓ EnergySupports EnergyBill creates tax credit for small business renewable energy usage, directly promoting renewable adoption per its explicit language and title.95% confidence ✓ EnvironmentSupports EnvironmentBill creates tax credit for small business renewable energy usage, directly promoting clean energy adoption and reducing reliance on non-renewable sources, aligning with environmental protection goals.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Renewable Energy Tags Small Business

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in committee · New York · Senate Jan 7, 2026

S 2023: Creates the middle class circuit breaker tax credit and a tax reform study commission

Creates the middle class circuit breaker tax credit allowing a credit against personal income tax, equal to seventy percent of the amount by which the taxpayer's net real property tax or the taxpayer's real property tax equivalent exceeds the taxpayer's maximum real property tax; establishes a tax reform study commission.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates middle-class tax credit reducing property tax burden - direct tax relief for lower/middle income taxpayers per bill title and summary.95% confidence

Sub-Topics Business Taxes Sales Tax Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 4672: Relates to improving the real property tax relief credit

This bill increases the real property tax relief credit for homeowners with qualifying income levels. It adjusts the calculation method, raising the credit percentage for lower-income taxpayers (up to $75,000 gross income) from 14% to 20% and modifying thresholds for middle-income households ($75,000-$150,000 and $150,000-$350,000). The credit now has a minimum value of $1,550 (up from $350) and applies to tax years beginning January 1, 2026. It directly affects homeowners whose real property taxes exceed 5% of their qualified gross income, providing greater relief for those with moderate incomes.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit percentage for lower/middle-income homeowners (14%→20%) and raises minimum credit, directly providing tax relief per support indicators.95% confidence

Sub-Topics Property Tax Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 1832: Authorizes a personal income tax credit for residential solar energy systems

This bill creates a 25% tax credit for homeowners who purchase, lease, or buy power from solar energy systems installed on their primary residence in the state. It directly affects residential property owners who install qualifying solar equipment, with a maximum credit of $3,750 for systems placed in service before September 1, 2006, and $5,000 for systems placed in service on or after that date. The credit covers equipment purchases, long-term leases (10+ years), or power purchase agreements (10+ years) for systems on the taxpayer's principal residence. It also includes provisions for shared ownership in condos or co-ops, allowing proportional credit claims based on individual contributions.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 25% personal income tax credit for residential solar, reducing homeowner tax burden and aligning with tax relief for middle-income residents.95% confidence ✓ EnergySupports EnergyProvides 25% tax credit for residential solar installations, directly promoting renewable energy adoption and reducing fossil fuel dependence.95% confidence ✓ EnvironmentSupports EnvironmentPromotes clean energy adoption via tax credit for residential solar systems, reducing fossil fuel reliance and emissions.90% confidence

Sub-Topics Income Tax Tax Credits Solar

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in committee · New York · Senate Jan 7, 2026

S 3140: Establishes a historic wood window rehabilitation and energy retrofit tax credit

Establishes a historic wood window rehabilitation and energy retrofit tax credit of up to 25% of the expenditures paid or incurred within the five years preceding the year in which the tax credit is applied.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a 25% tax credit for historic window rehab and energy retrofits, providing direct tax relief. This explicitly uses taxation policy to incentivize behavior, aligning with 'support' indicators for tax relief.90% confidence ✓ EnergySupports EnergyTax credit directly incentivizes energy efficiency retrofits for historic windows, advancing building energy efficiency standards.95% confidence ✓ EnvironmentSupports EnvironmentTax credit incentivizes energy-efficient window retrofits, reducing energy consumption and emissions through building modernization.85% confidence ✓ HousingSupports HousingBill provides tax credit for historic housing rehabilitation and energy retrofits, supporting preservation and efficiency of existing housing stock.70% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Historic Preservation

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in committee · New York · Senate Jan 7, 2026

S 5628: Establishes an agrivoltaic production tax credit

Establishes an agrivoltaic production tax credit for farmers who manage a farm operation that is situated wholly or in part within one or more qualified agrivoltaic facilities.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes tax credit for farmers, providing direct tax relief under fiscal policy as a targeted tax incentive.95% confidence ✓ EnergySupports EnergyBill creates tax credit for agrivoltaic facilities, directly promoting renewable energy infrastructure and solar adoption through financial incentives.95% confidence ✓ EnvironmentSupports EnvironmentAgrivoltaics integrate solar energy production with agriculture, promoting clean energy use on farmland. The tax credit incentivizes adoption of this sustainable practice, aligning with environmental protection goals.95% confidence

Sub-Topics Tax Credits Tax Incentives Solar

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in committee · New York · Assembly Jan 7, 2026

A 2040: Establishes the green building credit for construction or rehabilitation of property in conformity with certain energy efficiency standards

This bill creates a tax credit for homeowners who build or renovate their primary residence to meet specific energy efficiency standards (like LEED or NAHB guidelines). The credit covers up to $10,000 of eligible costs - such as construction, professional fees, and energy-efficient materials - over a 10-year period, but excludes items like computers, solar panels, or new air conditioning systems. Unused credit amounts can be carried forward for up to five years to offset future tax bills. It applies only to primary residences and takes effect for tax years beginning January 1, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing homeowner tax burden for energy-efficient construction, aligning with tax relief indicators for middle-income households.95% confidence ✓ EnergySupports EnergyBill provides tax credit for energy-efficient home construction meeting LEED/NAHB standards, directly promoting reduced energy consumption and efficiency per bill's explicit purpose.90% confidence ✓ EnvironmentSupports EnvironmentBill creates tax credit for energy-efficient building construction, directly promoting reduced energy consumption and lower emissions per environmental protection indicators.95% confidence

Sub-Topics Tax Credits Energy Efficiency Solar

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in committee · New York · Assembly Jan 7, 2026

A 631: Establishes a tax credit for the cost of veterinary services

This bill creates a tax credit for New York residents who pay for veterinary care for their companion animals. It allows a 50% credit on eligible veterinary costs, capped at $2,000 per year for services like checkups, vaccinations, and treatments for illness or injury. To claim the credit, taxpayers must provide a receipt from a licensed veterinarian and can carry forward any unused credit to future tax years. The credit applies to tax years starting January 1, 2025, and expires on January 1, 2031.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing tax liability for veterinary expenses, providing direct tax relief to residents per bill's explicit language.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 5375: Establishes the retire strong tax credit for certain individuals age 65 or older

Establishes the retire strong tax credit for certain individuals age 65 or older; authorizes a tax credit amounting to half the qualifying real property taxes paid by such individual for the taxable year, up to $6,500.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing property tax burden for seniors, a form of tax relief targeting eligible individuals.90% confidence

Sub-Topics Property Tax Tax Credits Tax Incentives

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