Freezes the assessed value of real property owned by persons aged 65 or over, for the purposes of determining taxes owed on such property, beginning on the date all of such persons reach the age of 65, regardless of the actual assessed value of the property at the time of taxation.
This bill extends the city of Beacon's authority to collect a hotel and motel tax for an additional three years, allowing the municipality to continue using these funds for local purposes. The legislation amends existing state law to update the expiration date of the tax authorization to August 23, 2029, ensuring the program remains in effect beyond its previous timeframe. The change applies specifically to Beacon and does not alter the tax rate or how the revenue is collected, only the duration of the authorization.
This bill removes child day care providers from a restriction that currently prevents them from receiving financial assistance from industrial development agencies. The change applies to local government projects where retail sales make up more than one-third of the total cost, which would otherwise block funding for such facilities. By explicitly exempting child day care providers, the legislation allows these businesses to access the same financial support available to other types of projects. The amendment takes effect immediately upon passage.
Allows a municipality to pass a local resolution to extend the taxable status exemption filing date to match such municipality's grievance date for persons sixty-five years of age or older.
This bill requires large cooperative housing corporations that generate their own electricity, steam, or water to pay an excise tax directly to the city instead of passing the cost onto tenants. The tax applies to cooperatives with at least 1,500 apartments that produce their own energy through cogeneration facilities and distribute it to residents. Under the new rules, the tax rate is set at zero percent, meaning the utility pays the tax but does not add it as a separate charge on customer bills. The legislation aims to clarify that such taxes are operating costs for the utility rather than fees for consumers.
Provides for an income tax credit of $1500 and related supports for retired childcare workers who re-enter the childcare workforce for at least 6 months in a year.
Imposes an excise tax on the gross receipts of the sales of firearms, major components of firearms and ammunition; establishes the gun violence prevention and school safety fund.
Authorizes the issuance of a low potency cannabis beverage retail permit to licensed off-premises liquor and wine stores to allow the regulated sale of low potency cannabis single use beverages that contain no more than 5mg of THC manufactured by New York state adult-use licensees; provides for the allocation of low potency cannabis beverage tax revenue in the New York state cannabis revenue fund.
This bill creates a one-time energy price refund credit for New York state taxpayers who lived in the state during 2024 and meet specific income limits. Eligible residents receive between $150 and $400 depending on their filing status and income level, with higher amounts available for married couples and lower incomes. The credit is calculated based on 2024 tax information and will be issued as a refund or tax credit for the 2026 tax year. The legislation also ensures that any portion of the credit included in federal income will not be subject to New York state or local income tax.
This bill creates a new state program that allows New York residents to set up accounts to pay for college expenses for themselves or family members. The program lets people contribute money to help cover tuition, room and board, books, and other qualified education costs for a designated beneficiary. Funds in the accounts grow without state or federal taxes, and withdrawals used for qualified education expenses are also tax-free. The bill defines who can contribute, what expenses qualify, and includes rules about how contributions and distributions are taxed. It also requires that contributions be made in cash and allows account holders to direct investments up to two times per year.
