Budget & Taxes

in committee · New York · Senate Jun 12, 2025

S 7322: Increases the tax on deeds in the city of Mount Vernon

This bill increases the city of Mount Vernon's tax on deeds (the fee paid when buying or selling property) from its previous rate to 1.5% of the property's value. It directly affects anyone buying, selling, or transferring real property within Mount Vernon, including homebuyers and sellers. The tax applies to all property conveyances (transfers) regardless of where negotiations occur, with a $100,000 exemption on the property value and no tax for deals finalized before September 1, 1984. The bill amends existing tax law to set this new rate and requires payment before a deed can be recorded.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill explicitly increases deed tax rate to 1.5%, directly advancing tax policy for municipal revenue within Budget & Taxes framework.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · New York · Senate Jun 11, 2025

S 8063: Relates to relocation and employment assistance credits

This bill creates a tax credit program for businesses relocating to cities with over one million residents (like New York City). It requires eligible businesses - those operating outside New York state for 24 months prior and relocating operations - to maintain a minimum number of "eligible employment shares" (calculated based on full- and part-time work weeks) and obtain annual city certifications from the mayor or designated agency. Businesses must meet specific thresholds, such as having at least 25% of their New York City employment base or 250 employment shares, to qualify for the credit. Certifications cannot be issued after July 1, 2028, and the program applies to local laws enacted under this article.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credits for relocating businesses, reducing their tax burden and incentivizing economic activity per bill's tax credit program.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · New York · Senate Jun 10, 2025

S 7780: Relates to the tax exemption of a mutual redevelopment company

S 7780 would allow cities with a population of over one million to grant mutual redevelopment companies an additional 50 years of tax exemption, following the initial maximum period. The exemption requires that the company pays at least 5% of annual rent (minus utilities) for residential units or the taxes paid during 2000-2001, whichever is lower. This applies only to companies already operating under the existing tax exemption framework in large cities.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExtends tax exemptions for redevelopment companies, reducing government tax revenue and weakening fiscal management through prolonged tax breaks.95% confidence ✓ HousingSupports HousingExtends tax exemptions for redevelopment companies with 5% rent payment requirement, incentivizing affordable housing development under existing framework.85% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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in committee · New York · Senate Jun 9, 2025

S 7420: Relates to Suffolk county sales and compensating use taxes

S 7420 extends Suffolk County's authority to impose an additional 1% sales and use tax on top of existing rates, effective June 2021 through November 2027. This tax applies to residents and businesses within Suffolk County that pay sales tax. The bill requires that 12.5% to 37.5% of the tax revenue collected must fund public safety, with the remainder going to the county's general fund. The measure modifies existing tax law to formalize this temporary tax increase and its revenue allocation rules.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill increases local sales tax to fund public safety (12.5%-37.5% of revenue), directly allocating tax revenue to essential services per tax law modification.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · New York · Senate Jun 9, 2025

S 8179: Extends current exemptions of income and resources for public assistance programs

This bill extends existing income and resource exemptions for public assistance programs under the 1997 welfare reform law. It changes the expiration date of these exemptions from August 22, 2025, to August 22, 2027. The extension ensures that individuals and families receiving benefits like SNAP or Medicaid will continue to qualify without losing eligibility due to income changes during this period. The bill also includes a retroactive provision to cover the period starting August 22, 2025, if enacted after that date. This change directly affects low-income households enrolled in state public assistance programs.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends income/resource exemptions for SNAP/Medicaid eligibility, preserving public assistance funding continuity without interruption or cost increases.90% confidence ✓ HealthcareSupports HealthcareExtends Medicaid eligibility exemptions, preventing loss of healthcare coverage for low-income individuals by maintaining income/resource thresholds.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · New York · Senate Jun 9, 2025

S 7742: Extends the authority of the town of Newburgh to impose a hotel and motel tax

This bill extends Newburgh's existing authority to collect a hotel and motel tax for two additional years, moving the expiration date from 2025 to 2027. It directly affects hotels and motels operating within Newburgh, as well as the town's ability to generate revenue from this tax. The key change is updating the expiration date in the tax law to ensure the tax remains in place through 2027. The bill makes a technical adjustment to the existing law without altering the tax rate or scope of the levy.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends existing hotel/motel tax authority, ensuring continued revenue generation for Newburgh without rate changes, directly supporting local fiscal management and budget stability.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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passed · New York · Senate Jun 9, 2025

S 6166: Relates to delinquent tax interest rates

This bill sets a maximum 16% annual interest rate and a minimum 2% annual interest rate on late payments for residential property taxes, replacing higher local rates. It applies to residential properties including condos and co-ops, but excludes vacant and abandoned properties listed on a statewide registry. The interest rate will be tied to the prime rate (as defined by the commissioner), with the initial rate based on 2026 data and updated every five years. This limits how much interest homeowners can be charged on overdue residential tax bills, ensuring rates stay within the 2%-16% range.

Topics ✓ Budget & TaxesSupports Budget & TaxesCaps delinquent tax interest rates for residential properties, limiting penalties and providing relief to homeowners.95% confidence ✓ HousingSupports HousingCapping delinquent tax interest rates protects homeowners from excessive financial burden, supporting housing stability and property rights as part of affordable housing policy.85% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · New York · Senate Jun 9, 2025

S 8297: Relates to base proportions in Nassau and Suffolk counties

S 8297 limits annual increases in property tax base proportions for Nassau and Suffolk counties to prevent sudden tax hikes. For Nassau County, the increase for any tax class cannot exceed 1% annually, but only if local officials pass a specific law approving this cap. Suffolk County has a 2% annual cap for most years, but must use a 1% cap for the 2025-2026 tax period. If calculations would exceed these limits, county legislatures must adjust other tax classes to ensure the total base proportions remain at 100%.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill explicitly caps annual property tax increases (1-2%) to prevent sudden hikes, directly restricting tax growth in two counties.95% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

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passed · New York · Senate Jun 6, 2025

S 1399: Establishes the vacant rental improvement program

This bill creates the Vacant Rental Improvement Program, providing grants of up to $75,000 per unit to owners of small rental buildings (five or fewer units) located outside New York City. It requires renovated units to be leased at affordable rates - defined as 80% of area median income - for a 10-year period, with new owners inheriting the affordability requirement. The program prioritizes vacant units or those with code violations and establishes a dedicated "rental improvement fund" for financing. Owners who violate the lease terms risk full repayment of grants.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates state funds via dedicated rental improvement fund to provide grants for affordable housing renovations, advancing public service funding within budget priorities.90% confidence ✓ HousingSupports HousingBill creates grants for renovating vacant units to be leased at 80% AMI for 10 years, directly increasing affordable housing stock and enforcing long-term affordability requirements.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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passed · New York · Senate Jun 5, 2025

S 6756: Relates to the definition of business entity; and relates to the allowance and application of the newspaper and broadcast media jobs tax credit

Includes not-for-profit corporations and public television or radio corporations in the definition of business entity; allows such entities to claim the newspaper and broadcast media jobs tax credit.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax credit eligibility to non-profits/public media, providing targeted tax relief for media jobs under tax policy.95% confidence | Rep's Stance ✗ Voted No ✗ Opposes Budget & Taxes

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