Establishes the renters' and small homeowners' credit in a city with a population of a million or more

This bill creates a refundable tax credit for renters and small homeowners in New York City (population over 1 million) who meet specific income and residency requirements. It provides credits ranging from $45 to $220 annually based on federal adjusted gross income (e.g., $220 for seniors earning $25,000 or less in 2026) and the number of dependents claimed. Qualifying individuals must reside in the city for six months, file taxes, and not claim rent deductions from family members. The credit can be claimed even if no tax is owed, with amounts increasing for households with dependents. This applies specifically to New York State residents in cities meeting the population threshold.