Directs the commissioner of taxation and finance to help entities to elect to participate in the federal tax credit for elementary and secondary scholarships known as the Educational Choice for Children Act of 2025.
Extends the tangible property credit component of the brownfield redevelopment tax credit for certain qualified sites which contain 40% open space and 25% affordable housing units.
This bill expands a tax credit available to New York employers who hire apprentices, specifically adding a new benefit for hiring people with disabilities. Under the new rules, employers can claim an additional $500 tax credit for each person with a disability they hire as an apprentice. The definition of disability used in the bill matches the existing legal definition found in the state's executive law. This change aims to provide financial incentives for businesses to include individuals with disabilities in their apprenticeship programs.
This bill requires the state tax commissioner to publish an annual report on brownfields redevelopment tax credits by June 30th each year. The report will list the names of entities that claimed these credits, along with the specific amounts awarded for site cleanup and property improvements. Additionally, the document will detail the number of construction jobs created, worker wage rates, apprenticeship participation, and the involvement of minority and women-owned businesses. This change aims to increase transparency regarding how these tax incentives are utilized and the resulting economic impacts of brownfields redevelopment projects.
This bill creates a new tax credit for homeowners living in specific eligible school districts that adopt budgets meeting strict spending limits. To qualify, a taxpayer must reside in a district with a "freeze-compliant" budget for the fiscal years 2027, 2028, or 2029, which generally means the budget does not exceed a set growth rate. The credit is calculated to offset the portion of property taxes that would normally increase due to approved budget growth, effectively capping the tax hike for qualifying residents. The legislation applies to various local taxing jurisdictions, including counties, towns, and special districts, while excluding large cities with populations of one million or more.
Extends provisions relating to establishing the New York city musical and theatrical production tax credit and establishing the New York state council on the arts cultural program fund; relates to the New York city musical and theatrical production tax credit.
This bill creates a new tax credit for taxpayers who experience the birth of a stillborn child. The provision allows eligible individuals to claim a refundable credit of $2,000 for the tax year in which a medical certificate of stillbirth is issued. To qualify, the stillborn child must meet the legal definition of a dependent under current tax laws. The measure applies to taxable years beginning on or after January 1, 2026, and authorizes the necessary regulatory updates to take effect immediately.
This bill extends the deadline for filing applications to receive tax breaks on green roofs in large cities, including New York. It allows property owners to apply for these credits as late as March 15, 2030, instead of the previous earlier date. The legislation also clarifies that any unused portion of the tax credit can be carried forward to future tax years for up to five years. Additionally, it maintains the existing rules regarding the maximum dollar amounts available for standard and enhanced green roof incentives.
Establishes a tax credit for same-sex couples who purchased residential property in the state prior to the legalization of same-sex marriage, were prohibited from recording the deed as tenants by the entirety, and who re-record the deed to reflect a change in status from tenants in common or joint tenants with right of survivorship to tenants by the entirety; provides for the repeal of such provisions upon the expiration thereof.
This bill proposes a new tax credit for individuals who own up to two household pets, specifically dogs or cats kept primarily for companionship. The credit would cover actual costs associated with pet ownership, including medical care, veterinary visits, and everyday expenses like food, toys, and grooming supplies. Taxpayers could claim a maximum of $150 annually for everyday items and $300 for medical expenses per pet, with a total cap of $900 per household per year. To qualify, owners must provide proof of pet ownership and receipts for expenses, while the bill explicitly excludes pets used in research, breeding, or law enforcement work.
