S 2238 New York Senate · 2025 Regular Session

Relates to tax credits for residents of certain cities

This bill modifies tax credits for residents of cities with over one million people. It adjusts the existing school tax credit by reducing it $20 for every $1,000 of income over $75,000 (single/head of household) or $150,000 (married filing jointly), but never below zero. It also creates a new $300 per child tax credit for qualifying children under 18, phased out by $10 for every $1,000 over $160,000 (head of household) or $320,000 (married filing jointly), with credits prorated for partial-year residency. The credit requires providing a child's Social Security number and applies only to residents of large cities.

Issues: ✓ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2025

Committee Review

Floor Vote

Governor

Introduced Jan 16, 2025 Last action Jan 7, 2026

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What changed between versions

S2238 → S2238A · 3 edits

MINOR

This bill amendment (S 2238A) modifies the school tax reduction credit for New York City residents, significantly reducing the income thresholds and adjustment rates that determine how much credit taxpayers can receive. The changes lower the income limits for claiming the credit and reduce the amount by which the credit decreases as income rises, making the credit more generous for higher-income families.

Scope change

The bill's scope remains focused on the school tax reduction credit for NYC residents, but the financial parameters have been substantially altered to expand eligibility and increase benefit amounts.

FISCAL

The credit reduction rate changed from $50 to $20 for every $1,000 of income above the threshold, meaning the credit decreases more slowly as income increases.

Income thresholds for the credit were increased from $75,000/$150,000 to $160,000/$320,000 for different filing statuses, allowing more taxpayers to qualify.

The fixed credit amount was increased from $50 to $20 per $1,000 of excess income, further increasing the credit value for eligible taxpayers.

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Full legislative history

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Committee

Amendments

Jan 7, 2026

Committee

REFERRED TO BUDGET AND REVENUE

upper

Mar 12, 2025

Upper · Passed

PRINT NUMBER 2238A

upper

Mar 12, 2025

Upper · Passed

AMEND AND RECOMMIT TO BUDGET AND REVENUE

upper

Jan 16, 2025

Committee

REFERRED TO BUDGET AND REVENUE

upper

1 primary · 0 co-sponsors