Imposes a progressive income tax structure; repealer

This bill establishes a new progressive income tax structure for high-income New York taxpayers by creating multiple tax brackets with increasing rates as income rises. It directly affects New York residents earning above certain thresholds, with the highest rates applying to incomes over $5 million (up to 24% for some filing statuses). Key provisions include setting specific tax rates for different income ranges - for example, 10.90% for incomes over $25 million and 24% for incomes over $20 million for certain filers. The bill modifies existing tax law to implement these bracketed rates, replacing previous structures.