Budget & Taxes (Income Tax)

in committee · New York · Assembly Jan 7, 2026

A 8709: Provides a personal income tax exemption for certain professional athletes residing in New York state

Provides a personal income tax exemption for certain professional athletes residing in New York state of up to two hundred fifty thousand dollars of income.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCreates targeted tax exemption for high-income athletes, reducing state revenue and aligning with tax breaks for wealthy individuals per oppose indicators.90% confidence

Sub-Topics Income Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 4106: Disregards the federal child tax credit in calculating an individual taxpayer's federal adjusted gross income

Disregards any amount included in an individual taxpayer's federal adjusted gross income as a result of the federal child tax credit for purposes of calculating an individual taxpayer's federal income tax deduction.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill removes tax credit from state tax calculation, increasing burden on families eligible for federal child tax credit.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 833: Creates deductions for creation or improvements of child care facilities

Creates deduction from franchise tax and personal income tax for costs of acquiring or improving a child care facility operated for profit; creates deduction from corporation tax, franchise tax, personal income tax and tax on banks for costs of acquiring or improving a child care facility operated primarily for children of taxpayer's employees.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCreates tax deductions reducing revenue, weakening tax base instead of strengthening budget/tax policies.95% confidence

Sub-Topics Business Taxes Income Tax

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in committee · New York · Senate Mar 9, 2026

S 1486: Enacts the "omnibus emergency services volunteer incentive act" to provide certain benefits to volunteer firefighters and ambulance workers

Enacts the "omnibus emergency services volunteer incentive act" to provide benefits to volunteer firefighters and ambulance workers; increases the personal income tax deduction after four or more years of service; exempts motor vehicles used in the performance of such volunteers' duties from registration fees, use taxes and special fees for volunteer license plates; authorizes the provision of municipal health insurance coverage to such volunteers; establishes a volunteer recruitment service loan forgiveness program.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProvides tax deductions and vehicle fee exemptions, reducing state revenue through targeted tax breaks for volunteers.90% confidence ✓ HealthcareSupports HealthcareAuthorizes municipal health insurance coverage for volunteer emergency workers, directly expanding health coverage access for this group.95% confidence

Sub-Topics Income Tax Insurance

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in committee · New York · Senate Jan 7, 2026

S 5259: Exempts veterans eighty-five years of age and older from the obligation to pay New York state income tax

This bill exempts New York State residents who are veterans and at least 85 years old as of December 31 of the tax year from paying state income tax on their gross income, effective for taxable years beginning on or after January 1, 2027. It directly affects qualifying veterans aged 85 or older who live in New York and meet the definition of "veteran" under New York's veterans' services law. The exemption applies regardless of whether the veteran's income is subject to federal income tax. The bill creates a new tax law provision (section 601(i)) that overrides other tax rules for this specific group.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces state tax revenue by exempting veterans 85+ from income tax, weakening the tax base and fiscal management.95% confidence ✓ VeteransSupports VeteransExempts veterans 85+ from state income tax, providing direct financial benefit without restrictions or conditions.95% confidence

Sub-Topics Income Tax

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in committee · New York · Senate Jan 7, 2026

S 7592: Provides for an angel investor income tax credit

Bill S 7592 creates an income tax credit for "angel investors" who invest in qualifying new businesses. Individual accredited investors, excluding those with controlling stakes or institutional venture capital firms, can receive a credit equal to 25% of their investment, for investments of $25,000 or more. The maximum credit allowed per investment is $250,000, and any unused credit can be carried over to future tax years. To qualify, businesses must be relatively new, have limited revenue, employ fewer than 25 full-time staff with at least 60% in New York, and have received no more than $2 million in previous angel investor credits. This legislation applies to personal and corporate income tax years beginning on and after January 1, 2026.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProvides tax credit for wealthy angel investors, reducing government revenue - aligns with 'oppose' indicator of tax breaks for wealthy.95% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 5959: Creates deductions for creation or improvements of child care facilities

Creates deduction from franchise tax and personal income tax for costs of acquiring or improving child care facility operated for profit; creates deduction from corporation tax, franchise tax, personal income tax and tax on banks for costs of acquiring or improving a child care facility operated primarily for children of taxpayer's employees.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCreates tax deductions reducing state tax revenue, weakening budgetary tax base90% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 2104: Relates to the personal income tax levy by New York state

This bill (A 2104) caps New York State's annual personal income tax collections starting in 2026. It sets a yearly limit based on a formula: the prior year's tax revenue multiplied by a growth factor (either 1.02 or 0.99 plus inflation), plus any unused carryover from previous years (max 1.5% of the limit). If the state collects more than the limit by over 1%, taxpayers receive equal refunds by September; if exceeded by less than 1%, the excess funds are reserved for future tax years. This directly affects all New York personal income tax filers by limiting how much the state can collect annually.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCaps annual personal income tax collections with strict revenue limits, directly restricting state tax revenue growth and preventing potential tax increases.95% confidence

Sub-Topics Income Tax Revenue State Budget

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