Budget & Taxes (Tax Incentives)

in committee · New York · Senate Jan 7, 2026

S 1627: Authorizes the abatement of municipal and school real property taxes in certain cases of catastrophic loss and establishes procedures therefor

Authorizes the abatement of real property taxes in certain cases of catastrophic loss; establishes procedures therefor; limits eligibility to one, two, or three family houses; applies to all municipal and school taxes.

Topics ✓ Budget & TaxesSupports Budget & TaxesAuthorizes tax abatement for property owners after catastrophic loss, providing direct tax relief to affected homeowners and reducing municipal/school tax burden on eligible properties.90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 3140: Establishes a historic wood window rehabilitation and energy retrofit tax credit

Establishes a historic wood window rehabilitation and energy retrofit tax credit of up to 25% of the expenditures paid or incurred within the five years preceding the year in which the tax credit is applied.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a 25% tax credit for historic window rehab and energy retrofits, providing direct tax relief. This explicitly uses taxation policy to incentivize behavior, aligning with 'support' indicators for tax relief.90% confidence ✓ EnergySupports EnergyTax credit directly incentivizes energy efficiency retrofits for historic windows, advancing building energy efficiency standards.95% confidence ✓ EnvironmentSupports EnvironmentTax credit incentivizes energy-efficient window retrofits, reducing energy consumption and emissions through building modernization.85% confidence ✓ HousingSupports HousingBill provides tax credit for historic housing rehabilitation and energy retrofits, supporting preservation and efficiency of existing housing stock.70% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Historic Preservation

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in committee · New York · Senate Jan 7, 2026

S 5628: Establishes an agrivoltaic production tax credit

Establishes an agrivoltaic production tax credit for farmers who manage a farm operation that is situated wholly or in part within one or more qualified agrivoltaic facilities.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes tax credit for farmers, providing direct tax relief under fiscal policy as a targeted tax incentive.95% confidence ✓ EnergySupports EnergyBill creates tax credit for agrivoltaic facilities, directly promoting renewable energy infrastructure and solar adoption through financial incentives.95% confidence ✓ EnvironmentSupports EnvironmentAgrivoltaics integrate solar energy production with agriculture, promoting clean energy use on farmland. The tax credit incentivizes adoption of this sustainable practice, aligning with environmental protection goals.95% confidence

Sub-Topics Tax Credits Tax Incentives Solar

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in committee · New York · Senate Jan 7, 2026

S 4077: Relates to establishing an abatement and exemption from real property taxes for capital improvements to reduce carbon emissions

Relates to establishing an abatement and exemption from real property taxes for capital improvements to reduce carbon emissions; establishes an energy efficiency improvement board to approve the abatements and exemptions.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax abatement/exemption for carbon-reducing property improvements, directly reducing tax burden on eligible owners per its title and summary.92% confidence ✓ EnergySupports EnergyTax abatements for carbon-reducing energy efficiency improvements directly promote clean energy infrastructure and emissions reduction per bill's purpose.95% confidence ✓ EnvironmentSupports EnvironmentBill provides tax abatements for carbon-reducing capital improvements, directly advancing emission reduction goals through financial incentives for energy efficiency.95% confidence

Sub-Topics Property Tax Tax Incentives Energy Efficiency Climate Change

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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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