Budget & Taxes (Tax Credits)

in committee · New York · Senate Jan 7, 2026

S 209: Establishes a Hire-Now tax credit

S 209 establishes a tax credit for businesses that create new full-time jobs in the state. It provides a credit equal to 6.85% of a new employee's gross wages (capped at $5,000 per employee annually for three consecutive years), with an additional $3,000 credit for hires who were receiving unemployment benefits during 2027-2028. The credit applies only to employees hired after July 1, 2026, who increase a business's total workforce above its 2025 employment level (defined as "base employment"). Businesses can use the credit to offset quarterly tax payments, and the credit cannot be claimed if other employment-based credits apply for the same hire.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides business tax credit to incentivize job creation, reducing state tax revenue to stimulate economic growth and workforce development.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill incentivizes job creation via tax credits (including $3k for unemployment beneficiaries), directly advancing employment growth and reducing unemployment rates.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Unemployment

Track

in committee · New York · Senate Jan 7, 2026

S 1307: Establishes a tax credit for the adoption of a dog or cat

This bill creates a $100 tax credit for individual taxpayers who adopt one to three dogs or cats per year from qualifying shelters, rescues, or animal welfare organizations. The credit applies to taxable years beginning January 1, 2025, and requires adopters to provide proof of spaying or neutering when claiming the credit. It directly affects taxpayers adopting pets from approved sources, with the credit limited to three animals annually. The policy provides a direct financial incentive for pet adoption through the state tax system, effective for 2025 tax filings.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a $100 tax credit for pet adoption, directly providing tax relief through a new credit program under taxation policy.95% confidence

Sub-Topics Tax Credits Tax Incentives

Track

in committee · New York · Senate Jan 7, 2026

S 8113: Relates to a tax credit for the purchase of new and used electric vehicles

Establishes a tax credit for the purchase of new and used electric cars; provides that for a new electric vehicle, the tax credit shall be $7,500 and the tax credit for a used electric vehicle shall be $4,000.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes tax credits for EV purchases, directly reducing taxpayer burden and promoting clean energy adoption through fiscal incentives.95% confidence ✓ EnergySupports EnergyTax credits for EVs directly reduce fossil fuel dependence and advance renewable energy adoption per bill's intent.95% confidence ✓ EnvironmentSupports EnvironmentTax credit for electric vehicles directly promotes clean energy adoption and reduces transportation emissions, aligning with environmental protection goals.95% confidence ✓ TransportationSupports TransportationPromotes sustainable transportation via tax credits for EV purchases ($7,500 new, $4,000 used), directly advancing vehicle electrification policy95% confidence

Sub-Topics Tax Credits Electric Vehicles Electric Vehicles

Track

in committee · New York · Senate Jan 7, 2026

S 1123: Gives state income tax credit to volunteer firefighters and members of a volunteer ambulance corps in good standing up to $2500

Gives state income tax credit to volunteer firefighters and members of a volunteer ambulance corps in good standing up to $2500; must be in good standing for a minimum of five years and maintain continued eligibility.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing tax burden for volunteer first responders, aligning with tax relief for lower-income groups per topic indicators.95% confidence

Sub-Topics Income Tax Tax Credits

Track

in committee · New York · Senate Jan 7, 2026

S 314: Provides fishing and hunting tax credits for members of the United States armed forces in active service stationed within the state

Provides a personal income tax credit in the amount of any fishing and/or hunting fees paid by members of the United States armed forces in active service.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing military members' tax burden, aligning with tax relief support per indicators.95% confidence

Sub-Topics Income Tax Tax Credits

Track

in committee · New York · Senate Jan 7, 2026

S 832: Establishes a tax credit for the cost of veterinary services

This bill creates a 50% tax credit for veterinary services on companion animals, up to $2,000 annually, for New York taxpayers. It covers costs like checkups, vaccinations, microchipping, and treatment of illness or injury, but excludes amounts reimbursed by others. Taxpayers must provide a receipt from a licensed veterinarian and can carry forward unused credit to future tax years. The credit applies to taxable years beginning January 1, 2025, and expires January 1, 2031.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 50% tax credit for veterinary services, providing direct tax relief to taxpayers under Budget & Taxes policy90% confidence

Sub-Topics Tax Credits

Track

in committee · New York · Senate Jan 7, 2026

S 1479: Establishes a home heating tax credit

Establishes a home heating tax credit for qualified taxpayers with an income of $125,000 or less for single filers, or with a combined income of $250,000 or less for joint filers.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing tax burden for lower/middle-income households ($125k/$250k income limits), aligning with tax relief indicators for Budget & Taxes.95% confidence

Sub-Topics Tax Credits

Track

in committee · New York · Senate Jan 7, 2026

S 967: Increases the aggregate funds available for the child care tax credit

This bill (S 967) doubles the annual funding cap for the child care tax credit program from $25 million to $50 million for businesses providing child care services. It directly affects eligible child care businesses by increasing the total funds available for tax credits they can claim. The key mechanism requires the state office to allocate these funds on a pro-rata basis to all qualifying businesses that meet eligibility criteria under existing law. This change applies to the 2023-2024 funding period and aims to expand support for child care providers through increased financial assistance.

Topics ✓ Budget & TaxesSupports Budget & TaxesDoubles tax credit funding cap from $25M to $50M, increasing state support for child care businesses via tax relief and expanded program funding.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentDoubles child care tax credit funding for businesses, enabling more affordable care access for working parents, directly supporting labor force participation and employment stability.85% confidence

Sub-Topics Tax Credits

Track

in committee · New York · Senate Jan 21, 2026

S 849: Establishes the USDA construction tax credit

Establishes the USDA construction tax credit for a percentage of the profit on any newly constructed home that is sold to someone qualifying with a USDA mortgage.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for USDA mortgage homebuyers, providing tax relief to lower-income households through reduced tax burden on new home construction.95% confidence ✓ HousingSupports HousingTax credit incentivizes construction of homes for USDA mortgage qualifiers, directly advancing affordable housing development through financial incentives.95% confidence

Sub-Topics Tax Credits Tax Incentives Affordable Housing Housing Finance Property Taxes

Track

in committee · New York · Senate Jan 7, 2026

S 171: Establishes a credit against income tax for union dues

S 171 creates a state income tax credit equal to the amount of qualified union dues paid by taxpayers to recognized labor organizations starting January 1, 2026. It directly affects individual taxpayers who pay union dues to organizations certified as bargaining representatives under state law. The credit reduces income tax liability dollar-for-dollar, with any excess treated as an overpayment refundable without interest. This policy change applies to dues paid for representation in matters like wages, hours, or working conditions, as defined in the bill.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates direct tax credit for union dues, providing tax relief to middle-income taxpayers who pay union dues to certified organizations.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides dollar-for-dollar tax credit for union dues, directly supporting collective bargaining rights and reducing financial barriers for union members.95% confidence

Sub-Topics Business Taxes Income Tax Tax Credits Collective Bargaining

Track