Establishes tax deductions for the tax paid by the taxpayer in connection with the purchase of a new automobile and for the interest paid by the taxpayer in connection with an automobile loan.
Enacts the small business full employment act; enacts various measures to provide tax and regulatory relief for small businesses to encourage growth.
Relates to the legislative budget and deposits to the tax stabilization reserve fund; requires that no later than March fifteenth of each year the temporary president of the senate, the minority leader of the senate, the speaker of the assembly and the minority leader of the assembly shall jointly convene a general budget conference committee to resolve the differences between each house concerning the executive budget; further alters the amounts of the deposits to the tax stabilization reserve fund; provides that subsequent to April first of each year, the legislature may not consider other legislation until a budget is passed, with exceptions; limits all funds spending to the rate of the inflation.
Exempts from sales and use taxes certain motor vehicles, parts and services therefor and railroad rolling stock, parts and services therefor.
Exempts pet food from sales and compensating use taxes.
Establishes the physicians, dentists and clinic charity care credit, in the amount of the cost of the care provided, up to five percent of the individuals or practices net taxable income or twenty thousand dollars, whichever is the lesser amount.
Relates to the real property tax cap; removes the current required school district override super majority vote.
Increases credits against taxes imposed on the transfer of the New York estate by every deceased individual who at his or her death was a resident of New York state by setting the basic exclusion amount to $11,200,000.
Increases the amount in the tax stabilization reserve fund to 5% of state fiscal year disbursements.
Exempts refinancing of certain mortgages from tax on mortgages.
