Budget & Taxes (Tax Incentives)

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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in committee · New York · Senate Jan 7, 2026

S 7964: Incentivizes projects on certain Brownfield sites

Bill S 7964 aims to encourage the cleanup and redevelopment of certain contaminated "Brownfield" sites by offering enhanced tax credits. It increases the maximum tangible property tax credit for projects on these sites, especially for a new category called "qualified project sites." To qualify for these higher incentives, a project must meet several criteria, including being in a city with a population under 100,000, located near public transportation, and incorporating a minimum percentage of affordable housing units. Additionally, these "qualified project sites" must have a total value exceeding $250 million, and remediation construction work on them will be subject to prevailing wage requirements, with an allowance for project labor agreements.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill increases tax credits for Brownfield redevelopment, directly enhancing tax incentives under budget/tax policy framework.95% confidence ✓ EnvironmentSupports EnvironmentBill incentivizes cleanup of contaminated Brownfield sites via tax credits, directly reducing pollution and promoting environmental remediation of degraded land.95% confidence ✓ HousingSupports HousingIncentivizes Brownfield redevelopment via tax credits, promoting new housing development in underserved areas with transit access, aligning with affordable housing goals.85% confidence ✓ TransportationSupports TransportationBill requires projects to be near public transportation to qualify for enhanced tax credits, directly incentivizing transit-oriented development.95% confidence

Sub-Topics Property Tax Tax Credits Tax Incentives Hazardous Materials Affordable Housing Community Development Property Taxes

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in committee · New York · Senate Jan 7, 2026

S 7090: Establishes the "education affordability act" and tax credit

Establishes the "education affordability act" and tax credit; provides credits against income and corporate franchise tax for various qualified education investments including scholarships, education funds and home-based instructional materials.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credits against income/corporate franchise tax for education investments, directly reducing tax burden for qualifying expenses per bill summary.95% confidence ✓ EducationSupports EducationProvides tax credits for education investments including scholarships and home-based materials, directly increasing affordability and access for families.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Curriculum School Choice Student Financial Aid

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in committee · New York · Senate Jan 8, 2025

S 132: Relates to waiving school taxes by a town, city, or county industrial development agency

This bill (S 132) prevents town, city, or county industrial development agencies from waiving taxes that would otherwise go to school districts. It prohibits these agencies from entering into agreements that replace tax payments (like "payment in lieu of taxes") or waiving other taxes directly payable to school districts. The law ensures school districts retain all tax revenue that would have been collected from industrial development projects. This directly affects local industrial development agencies and school districts by requiring full tax payments instead of waivers.

Topics ✓ Budget & TaxesSupports Budget & TaxesPrevents industrial agencies from waiving school taxes, ensuring school districts retain full tax revenue and closing a loophole that would reduce public school funding.95% confidence ✓ EducationSupports EducationPrevents tax waivers that would reduce school district revenue, ensuring continued funding for K-12 education through retained tax payments from industrial projects.95% confidence

Sub-Topics Business Taxes Debt & Bonds Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 1630: Extends eligibility for the agricultural property tax credit to farmers having a leasehold interest of not fewer than five years in qualified agricultural property

Extends eligibility for the agricultural property tax credit to farmers having a leasehold interest of not fewer than five continuous years in qualified agricultural property.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends agricultural property tax credit eligibility, providing tax relief to qualifying farmers by reducing their tax liability.95% confidence

Sub-Topics Business Taxes Property Tax Tax Incentives

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in committee · New York · Senate May 12, 2026

S 8463: Provides a one-year utility bill tax and surcharge holiday and two-year green energy tax holiday

S 8463 provides a one-year exemption from utility taxes and specific surcharges for all residential and commercial utility customers, effective 14 days after enactment. It also creates a two-year exemption from tariffs for renewable energy systems, electric vehicle infrastructure, and charging stations. During these periods, utility companies must reduce customer prices by the exact amount of the exempted taxes and surcharges. The state will reimburse lost revenue to utility funds within 45 days after the one-year period ends. This bill directly affects all utility ratepayers and impacts how utilities price services for renewable energy investments.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides temporary tax exemptions for utilities and green energy, reducing consumer costs while reimbursing state funds - direct tax relief for households and businesses.95% confidence ✓ EnergySupports EnergyProvides tax exemptions for renewable energy systems and EV infrastructure, reducing consumer costs while promoting clean energy adoption.95% confidence ✓ EnvironmentSupports EnvironmentProvides tax holidays for renewable energy systems and EV infrastructure, incentivizing clean energy adoption and reducing reliance on fossil fuels.95% confidence ✓ TransportationSupports TransportationBill exempts EV infrastructure and charging stations from taxes, directly promoting sustainable transportation infrastructure development.90% confidence

Sub-Topics Fees & Licensing Sales Tax Tax Incentives Electric Vehicles Renewable Energy Electric Vehicles

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in committee · New York · Senate Jan 7, 2026

S 2142: Relates to a sales tax exemption for certain fundraising organized by school-based volunteer organizations

This bill (S 2142) exempts from sales tax items sold for under $2 by school-based volunteer groups, such as parent-teacher associations, student organizations, or booster clubs. It directly affects these groups when they organize fundraising events to support K-12 educational or extracurricular activities, provided no third-party vendor collects the tax. The exemption applies only to low-cost items sold directly by the school groups themselves. The law aims to reduce administrative burdens and increase revenue for school activities by eliminating tax on small-scale fundraisers.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts school volunteer groups from sales tax on low-cost items, reducing tax burden and administrative costs for educational fundraising activities.95% confidence ✓ EducationSupports EducationExempts low-cost school fundraising from sales tax, reducing costs for PTA/booster clubs supporting K-12 activities. Directly aids school funding mechanisms for educational programs.85% confidence

Sub-Topics Sales Tax Tax Incentives K-12 Education Teachers

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in committee · New York · Senate Jan 7, 2026

S 2584: Provides that excess investment tax credit amounts may be refundable to operators of a farm operation

This bill allows farm operators whose primary income comes from farming to receive refunds for excess investment tax credits starting in 2025. If a farmer’s tax credit exceeds their tax liability for a year, they can elect to treat the difference as an overpayment refundable under existing tax law. The refund option applies only to credits from specific tax provisions (sections 210-B and 606 of the tax law) and requires the taxpayer’s primary income to be from a farm operation as defined in agriculture law. It does not change credit amounts but provides a new refund mechanism for qualifying farmers. The change takes effect January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief to farm operators by refunding excess investment tax credits, aligning with tax relief indicators under Budget & Taxes.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 4927: Relates to waiving school taxes by a town, city, or county industrial development agency

This bill prohibits town, city, or county industrial development agencies from waiving taxes that would otherwise be paid to school districts. It directly affects school districts by ensuring they receive all taxes that would have been collected from properties or developments under these agencies' jurisdiction. The key provision requires agencies to collect all applicable taxes instead of entering into agreements that replace tax payments with alternative payments. This change ensures school districts maintain their regular revenue streams from local development activities.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill prevents industrial development agencies from waiving school taxes, ensuring school districts receive full tax revenue, directly protecting public school funding and fiscal responsibility.95% confidence ✓ EducationSupports EducationBill prohibits tax waivers that would reduce school district revenue, directly protecting educational funding by ensuring full tax collection for schools.95% confidence

Sub-Topics Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 3532: Relates to providing an asbestos remediation tax credit

Provides an asbestos remediation tax credit; allows for a twenty percent credit of all eligible costs which are incurred as a result of asbestos remediation, not to exceed $1,000,000.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides a 20% tax credit for asbestos remediation costs, directly reducing tax liability and aligning with tax relief policies under Budget & Taxes.95% confidence ✓ EnvironmentSupports EnvironmentAsbestos remediation reduces hazardous environmental pollution; tax credit incentivizes cleanup of a known carcinogen, aligning with pollution control goals.90% confidence

Sub-Topics Tax Credits Tax Incentives

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