Budget & Taxes (Income Tax)

in committee · New York · Senate Jan 7, 2026

S 1556: Relates to indexing personal income taxes to the cost of living adjustment; repealer

This bill (S 1556) adjusts New York State personal income tax thresholds to automatically rise with inflation starting in 2026. It requires the state tax commissioner to increase key tax amounts - like income tax brackets, standard deductions, and certain calculation thresholds - each year using the federal Chained Consumer Price Index (C-CPI-U). This change directly affects all New York residents who file personal income tax returns, preventing their tax burden from increasing solely due to inflation. The adjustments will be rounded to the nearest $50 increment and take effect immediately, though the first adjustment applies to the 2026 tax year.

Topics ✓ Budget & TaxesSupports Budget & TaxesIndexes tax brackets to inflation, preventing automatic tax increases for NY residents, providing relief to middle/lower income earners95% confidence

Sub-Topics Income Tax

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in committee · New York · Assembly Jan 7, 2026

A 3948: Provides for a tax credit for certain persons relocating to the state to provide or receive reproductive care or gender-affirming care

This bill provides a $500 tax credit for individuals who permanently relocate to the state to access reproductive care or gender-affirming care, or for healthcare providers who relocate to offer such care. It applies to people moving from states with stricter abortion laws or more restrictive gender-affirming care access laws. The credit is available on individual income tax returns for the tax year of relocation, with excess credits refundable if they exceed tax liability. The policy takes effect for taxable years beginning January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides refundable $500 tax credit for relocation to access care, offering direct tax relief to targeted individuals aligning with support indicators for middle-income tax relief.95% confidence ✓ HealthcareSupports HealthcareProvides tax credit to access reproductive/gender-affirming care, improving patient access to restricted services95% confidence

Sub-Topics Income Tax Tax Credits Women's Health

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in committee · New York · Senate Jan 7, 2026

S 7248: Establishes a personal income tax credit for the purchase of a gun safe

S 7248 creates a personal income tax credit allowing taxpayers to deduct up to $500 from their state income tax for purchasing a gun safe. The credit is limited to once every ten years and cannot exceed $500 per taxable year. Taxpayers who claim the credit may apply any unused portion as an overpayment refund, but no interest is paid on the refund. This policy directly affects individuals buying gun safes who file state income taxes.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax credit (reducing tax liability) for gun safe purchases, aligning with tax relief as a supportive fiscal policy within Budget & Taxes framework.92% confidence

Sub-Topics Income Tax Procurement Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 7306: Provides that taxpayers in the city of New York with certain lower income levels shall not be subject to city personal income taxation

This bill (S 7306) exempts New York City residents earning below specific income thresholds from city personal income tax. It sets 0% tax rates for: - Married couples filing jointly earning under $21,600 - Heads of household earning under $14,400 - Single individuals earning under $12,000 The law amends existing tax brackets to apply these thresholds for taxable years beginning after 2026, directly affecting lower-income NYC residents by eliminating their city income tax liability within these income ranges.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts low-income NYC residents from city income tax, providing direct tax relief for lower earners - clear tax relief measure under Budget & Taxes.95% confidence

Sub-Topics Income Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 1622: Imposes a progressive income tax structure; repealer

This bill establishes a new progressive income tax structure for high earners in New York, replacing current tax brackets. It directly affects New York residents with significant taxable income, particularly those earning above $17,000 annually for single filers (with higher thresholds for married couples). The key mechanism uses tiered tax rates that increase as income rises - starting at 4% for lower incomes and reaching up to 24% for earnings over $20 million. The bill amends existing tax law to implement these rates, which apply to taxable years beginning in 2023 through 2027 and will be adjusted for 2028 onward.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes progressive tax rates for high earners (up to 24%), increasing state revenue. Aligns with fiscal responsibility and closing tax loopholes for top earners.95% confidence

Sub-Topics Income Tax

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in committee · New York · Senate Jan 7, 2026

S 300: Relates to providing an income tax credit for retired disabled police officers

This bill creates a $750 annual income tax credit for retired police officers in the state who retired due to disability. It applies to resident taxpayers whose disability retirement occurred while serving as a police officer. The credit reduces taxable income starting in 2026, with any excess credit treated as a refundable overpayment (no interest paid). The provision directly benefits eligible retired disabled officers by lowering their state tax burden.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides $750 annual income tax credit for retired disabled police officers, directly reducing their tax burden as targeted tax relief.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 298: Relates to providing a state income tax exemption for volunteer firefighters and volunteer ambulance workers

Provides a state income tax exemption for volunteer firefighters and volunteer ambulance workers who have qualifying service in the taxable year for which such exemption is sought.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax exemption for volunteer first responders, reducing taxable income - direct tax relief for lower-income service workers.95% confidence

Sub-Topics Income Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 1826: Relates to creating a tax credit for taxpayers who purchase and install a water filtration or purification system in their residence or business

This bill creates a $500 state tax credit for residents and businesses that purchase and professionally install a water filtration or purification system in their home or business within the state. Taxpayers can claim one credit per residence or business where a qualifying system is installed, defined as one that removes impurities through physical, chemical, or biological processes. The credit applies to taxable years beginning on or after January 1, 2025, and is claimed against state income tax. It directly affects taxpayers who install eligible systems, providing a financial incentive for water quality improvements.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a $500 tax credit for water filtration systems, providing direct tax relief to taxpayers. This aligns with the support indicator of offering tax relief.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 2510: Relates to establishing a cancer treatment credit

This bill (A 2510) creates a tax credit for individuals diagnosed with cancer or parents with children diagnosed with cancer. It allows a credit of up to $500 per year for qualified medical expenses related to cancer treatment, including diagnosis, cure, medication, insurance deductibles, wigs, and prosthetics. The credit can be applied against state income tax, and any unused portion may be refunded without interest. This policy directly affects cancer patients and families managing treatment costs through their state tax filings.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing state income tax burden for cancer patients/families, providing direct fiscal relief per bill summary.95% confidence ✓ HealthcareSupports HealthcareProvides tax credit for cancer treatment expenses, reducing out-of-pocket costs and improving access to care for patients with cancer-related medical needs.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 1262: Establishes certain credits against income tax for nurses

Establishes a five hundred dollar credit against income tax for nurses employed on a full-time basis for not less than six months and nurses teaching at institutions of higher education on and after January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides $500 tax credit for nurses, reducing tax burden for middle-income workers - direct tax relief aligning with support indicators.95% confidence ✓ HealthcareSupports HealthcareTax credit for nurses directly supports healthcare workforce retention/recruitment, aligning with medical professional support indicators.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides $500 tax credit to nurses, directly increasing income for healthcare workers and supporting labor retention in critical employment sector.90% confidence

Sub-Topics Income Tax Healthcare Workforce

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