This bill provides a $500 tax credit for individuals who permanently relocate to the state to access reproductive care or gender-affirming care, or for healthcare providers who relocate to offer such care. It applies to people moving from states with stricter abortion laws or more restrictive gender-affirming care access laws. The credit is available on individual income tax returns for the tax year of relocation, with excess credits refundable if they exceed tax liability. The policy takes effect for taxable years beginning January 1, 2025.
S 4427 creates a 25% tax credit for small businesses (those with fewer than 101 employees) that purchase qualified data breach insurance. This insurance must cover expenses related to data theft, loss, or unauthorized access, and businesses must comply with cybersecurity standards like the NIST framework or state-approved equivalents. The bill requires insurance premiums to be separately itemized in contracts and limits the credit to premiums paid in ordinary business operations. It applies to taxable years beginning after the law takes effect and expires after five years.
Provides a tax credit for utility bill payments made in taxable years 2025 and 2026 based on the difference of the average monthly utility bill payment in the year in which the credit is claimed and the average monthly utility bill payment in the preceding three taxable years; establishes a moratorium on certain utility bill surcharges until April 1, 2026; provides for the repeal of such moratorium upon expiration thereof.
S 7248 creates a personal income tax credit allowing taxpayers to deduct up to $500 from their state income tax for purchasing a gun safe. The credit is limited to once every ten years and cannot exceed $500 per taxable year. Taxpayers who claim the credit may apply any unused portion as an overpayment refund, but no interest is paid on the refund. This policy directly affects individuals buying gun safes who file state income taxes.
Establishes the fresh air jobs tax credit for businesses participating in the development or production of clean wind energy buildout programs in this state.
Creates a tax credit for small businesses that sell a certain percentage of products produced in New York state; provides such small businesses include independently or privately-owned cafes, restaurants, eateries, bars, pubs, breweries, distilleries, orchards, food trucks, retail stores, farm stands, hotels, or motels.
This bill creates a $750 annual income tax credit for retired police officers in the state who retired due to disability. It applies to resident taxpayers whose disability retirement occurred while serving as a police officer. The credit reduces taxable income starting in 2026, with any excess credit treated as a refundable overpayment (no interest paid). The provision directly benefits eligible retired disabled officers by lowering their state tax burden.
This bill creates a $500 state tax credit for residents and businesses that purchase and professionally install a water filtration or purification system in their home or business within the state. Taxpayers can claim one credit per residence or business where a qualifying system is installed, defined as one that removes impurities through physical, chemical, or biological processes. The credit applies to taxable years beginning on or after January 1, 2025, and is claimed against state income tax. It directly affects taxpayers who install eligible systems, providing a financial incentive for water quality improvements.
This bill (A 2510) creates a tax credit for individuals diagnosed with cancer or parents with children diagnosed with cancer. It allows a credit of up to $500 per year for qualified medical expenses related to cancer treatment, including diagnosis, cure, medication, insurance deductibles, wigs, and prosthetics. The credit can be applied against state income tax, and any unused portion may be refunded without interest. This policy directly affects cancer patients and families managing treatment costs through their state tax filings.
Relates to providing a tax credit for qualified expenses relating to healthy living; provides such credit shall equal, up to one thousand dollars, the amount paid by the taxpayer during the taxable year for qualified expenses relating to healthy living.
