S 7906 modifies New York's college tuition tax credit by introducing a sliding scale based on income. It eliminates the credit entirely for married couples filing jointly with New York adjusted gross income over $15 million, and reduces it to 25% for those earning $7.5-$15 million. For single filers and heads of household, the credit phases out entirely above $10 million, with reductions at $1-$5 million and $5-$10 million income brackets. This change directly affects high-income New York taxpayers who claim the tuition credit, making it less accessible as their income increases.
This bill would allow taxpayers to deduct interest paid on qualified student loans from their federal taxable income. It applies to individuals who pay interest on education loans used for higher education, directly affecting borrowers with such loans. The deduction would be calculated as specified in existing IRS rules (26 USC § 221) and would apply to tax years beginning January 1, 2026. This policy change reduces taxable income for eligible borrowers without altering current tax filing requirements.
Amends the imposition of sales tax to dramatic or musical arts performances, or live circus performances, or motion picture theaters, where such admission charge is not more than one thousand dollars.
Bill S 7797 provides emergency appropriations to fund state government operations from April 1, 2025, through May 9, 2025. This measure allocates funds for the salaries and benefits of state employees across the executive, legislative, and judicial branches. It also covers non-personal service liabilities for state departments and agencies, and provides aid to localities through the judiciary. Additionally, the bill adjusts specific appropriations within the Department of Health, including for the Center for Community Health Program and federal food and nutrition services. The purpose is to ensure the continuation of government functions until the full state budget for the fiscal year beginning April 1, 2025, is enacted.
Excludes the five state-run veterans homes from assessments on their gross receipts received from all patient care services and other operating income; directs the Commissioner of Health to apply to the secretary of the Department of Health and Human Services for any necessary waivers pursuant to federal law and regulation.
Provides that the sale of a rental vehicle to a rental business for use in such business is subject to taxes and shall not be considered a sale for resale.
Establishes the work opportunity tax credit for businesses with fifty employees or less for hiring a long term unemployed person; provides a credit shall be allowed of up to $2,400; provides the total amount of credit provided statewide shall not exceed fifteen million dollars.
S 3779 increases the maximum number of academic years students can receive tuition assistance under New York's program from four to six years. It directly affects undergraduate students enrolled in eligible two- or four-year colleges who rely on this state-funded aid. The key change extends eligibility periods, with specific provisions for students in remedial programs (counted as five-year programs) and those transferring due to college closures (allowing up to two additional semesters). This update aligns the program with longer degree completion timelines common in higher education.
Repeals certain provisions relating to use tax exemptions for certain race horses; prevents nonresident race horse owners from avoiding use tax in certain situations.
S 5422 exempts zero-emission school buses and all necessary parts/equipment for their operation from New York's sales and use tax. This directly affects school districts and bus purchasers by removing a cost barrier when buying or maintaining electric or hydrogen-powered school buses. The bill adds a specific tax exemption to the tax law, applying to buses defined in education law §3638. It will take effect during the first sales tax period starting after 30 days from when the bill becomes law.
