Includes special districts in veterans' real property tax exemptions provided that such special district exemption is adopted by the local governing body.
Creates a vacant property classification for vacant and blighted properties; allows for cities with a population of one million or more to levy an additional real property tax on vacant and blighted properties with funds raised from such taxes being used to address homelessness.
This New York state bill modifies tax rules by requiring residents to include certain gains excluded under federal law in their state adjusted gross income. Specifically, it adds gains excluded under Section 1202 of the Internal Revenue Code (for qualified small business stock sales) back into taxable income for New York state tax purposes. It directly affects New York residents who sell eligible small business stock and previously excluded those gains from state taxes. The change takes immediate effect upon enactment, altering how these gains are treated for state tax calculations.
This bill extends the tax exemption for certain food donations until July 1, 2026. It directly affects food banks, restaurants, and grocers that donate surplus food, allowing them to continue avoiding sales tax on those donations during this period. The key change modifies the effective date of a 2025 tax law provision, aligning it with a prior legislative proposal and setting July 1, 2026, as the new deadline. This maintains the existing policy without altering the scope of eligible donations or tax treatment. The bill was recently passed by the Senate and returned to the Assembly for further consideration.
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.
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.
Establishes the psilocybin assisted therapy pilot program; provides such program will be offered to veterans and first responders from New York state; establishes a psilocybin assisted therapy pilot program fund.
This bill extends the effective date for a tax exemption on certain food donations until July 1, 2026. It modifies an existing 2025 tax law provision that exempts food donations from sales tax, changing the implementation date to July 1, 2026, instead of the original proposed timeline. The exemption directly benefits food banks, charities, and restaurants donating surplus food, as they will no longer owe sales tax on those donations after the new date. The change only affects the timing of the exemption’s application, not the scope of the tax exclusion itself. This is a procedural adjustment to align with prior legislative proposals.
Establishes law enforcement officer grant funds and firefighter grant funds to cover expenses related to hiring law enforcement officers and firefighters and equipment and resources for such officers and firefighters.
This bill creates a special "North Country Honor Flight" license plate for New York vehicle owners. Drivers who choose this plate pay an additional $25 annual fee on top of standard registration costs. Revenue exceeding $6,000 yearly from these fees is directed to the North Country Honor Flight fund, which supports a veterans' travel program helping veterans visit memorials. The fund is managed by state officials and can also accept grants or donations for this purpose.
