Budget & Taxes (Tax Credits)

in committee · New York · Senate Feb 18, 2026

S 9249: Establishes the New York rural growth fund tax credit and the New York rural growth fund

Establishes the New York rural growth fund tax credit and the New York rural growth fund; provides that individuals who develop a business plan to invest in rural business in New York and have successfully solicited private investors to make capital contributions in support of such business plan may apply to the department of economic development for certification as a rural business growth fund; provides that if approved, tax credits shall be issued in an aggregate amount equal to seventy percent of the eligible investment authority; defines terms; provides for penalties; requires reporting.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit for rural business investment, providing tax relief to encourage economic development in rural areas.90% confidence

Sub-Topics Tax Credits Tags Economic Development Rural Communities

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in committee · New York · Assembly Feb 12, 2026

A 10247: Relates to the excelsior research and development tax credit

Enacts the "empire innovation act"; provides that a participant in the excelsior jobs program shall be eligible to claim a credit equal to the portion of the full cost of the participant's research and development expenses incurred that relates to the participant's research and development expenditures in New York state during the taxable year; provided however, if the participant receives a federal research and development tax credit calculated on the full cost of the participant's research and development expenses that relates to the participant's research and development expenditures in New York state during the taxable year, then said participant shall only be eligible to claim a credit equal to fifty percent of the portion of the participant's federal research and development tax credit that relates to the participant's research and development expenditures in New York state during the taxable year.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for NY R&D expenses, creating fiscal incentive for business investment and innovation, aligning with tax relief and economic development.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Assembly Feb 2, 2026

A 10130: Provides a tax credit for sales or rentals of agricultural assets to emerging farmers; and establishes the duties of the commissioner of agriculture and markets with respect thereto

Provides a tax credit for sales or rentals of agricultural assets to emerging farmers; requires the commissioner of agriculture and markets to implement a plan for certification of eligible taxpayers with respect thereto.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for emerging farmers, reducing tax burden and supporting agricultural sector through fiscal incentive.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Assembly Feb 2, 2026

A 10126: Relates to expanding the empire state child credit

This bill increases New York's Empire State Child Credit for eligible families with children. It expands the credit by raising annual payments: $1,500 for children under 3 and $1,250 for children aged 4-17 (phased in through 2029), with future adjustments for inflation starting in 2030. The credit directly affects New York resident taxpayers with qualifying children under 18, reducing or eliminating the credit for those with federal adjusted gross income above thresholds ($75,000 single, $110,000 married filing jointly). The credit is calculated based on federal child tax credit rules but provides higher state-specific payments for qualifying children.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax credit for families with children, providing direct tax relief to middle/lower income households through increased annual payments.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Assembly Feb 20, 2026

A 10287: Includes positive rental payment information reporting in the New York state low income housing tax credit program; requires landlords to offer tenants the option of positive rental payment information reporting

Includes positive rental payment information reporting as a preference in the evaluation of project applications in the New York state low income housing tax credit program; requires landlords to offer tenants the option of positive rental payment information reporting; creates notice requirements for the election of positive rental payment information reporting.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill modifies tax credit program application criteria to incentivize positive rental reporting, strengthening affordable housing funding through tax incentives within fiscal management.85% confidence ✓ HousingSupports HousingRequires landlords to offer positive rental reporting, aiding tenant credit building and strengthening low-income housing program preferences.95% confidence

Sub-Topics Tax Credits Affordable Housing Renters Tenant Rights

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in committee · New York · Senate Feb 19, 2026

S 9259: Creates an office to residential conversion tax credit and a historic preservation rehabilitation office to residential conversion tax credit

Creates an office to residential conversion tax credit which shall be administered by the empire state development corporation; creates a historic preservation rehabilitation office to residential conversion tax credit which shall be administered by the state historic preservation office.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a residential conversion tax credit, providing tax relief for property owners and historic preservation projects, aligning with tax incentive policies that advance fiscal support for specific economic activities.95% confidence ✓ HousingSupports HousingCreates tax credit offices to incentivize residential conversions, increasing housing supply through development funding mechanisms.90% confidence

Sub-Topics Tax Credits Historic Preservation Property Development

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in committee · New York · Senate Feb 18, 2026

S 9227: Enacts the residential structure fire prevention act of 2026

Enacts the residential structure fire prevention act; provides a tax credit to homeowners who remove cock loft fire hazards in their homes; provides an insurance discount for the installation of smoke detecting alarm devices in cock lofts; provides that the repair of cock lofts for the purpose of fire prevention and safety shall be qualifying expenditures under state housing programs.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for homeowners removing fire hazards, directly offering tax relief per Budget & Taxes indicators.95% confidence ✓ HousingSupports HousingBill designates fire prevention repairs as qualifying expenditures under state housing programs, directly advancing housing safety and program funding.90% confidence

Sub-Topics Tax Credits

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in committee · New York · Assembly Feb 12, 2026

A 10192: Creates an office to residential conversion tax credit and a historic preservation rehabilitation office to residential conversion tax credit

Creates an office to residential conversion tax credit which shall be administered by the empire state development corporation; creates a historic preservation rehabilitation office to residential conversion tax credit which shall be administered by the state historic preservation office.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit administration offices, providing tax relief through incentives for residential conversion and historic preservation.90% confidence ✓ HousingSupports HousingCreates tax credits for residential conversion and historic preservation, incentivizing housing development and preservation, aligning with affordable housing goals.95% confidence

Sub-Topics Tax Credits Historic Preservation Property Development

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in committee · New York · Assembly Jan 21, 2026

A 9696: 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 & TaxesTax credit reduces taxes for builders selling USDA-qualified homes, providing tax relief for lower-income housing access, aligning with support indicators.95% confidence ✓ HousingSupports HousingTax credit incentivizes new construction for USDA mortgage qualifiers (low-income buyers), advancing affordable housing development through financial support for developers.95% confidence

Sub-Topics Tax Credits Tax Incentives Affordable Housing Mortgages

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in committee · New York · Assembly Jan 21, 2026

A 9587: Establishes a caregiver tax credit and a family caregiver reimbursement program

Establishes a caregiver tax credit of up to six thousand dollars and a family caregiver reimbursement program to offset out-of-pocket spending by family caregivers.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a tax credit (reducing tax burden) and reimbursement program (government spending), providing tax relief and funding essential caregiver support, aligning with tax relief and program funding indicators.95% confidence ✓ HealthcareSupports HealthcareBill provides tax credit/reimbursement to offset family caregivers' out-of-pocket costs, directly supporting healthcare access and reducing financial barriers for care recipients.85% confidence

Sub-Topics Tax Credits

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