Budget & Taxes

signed · New York · Senate Aug 21, 2026

S 8188: Authorizes the town of Rhinebeck, county of Dutchess, to establish hotel and motel taxes within such town

Authorizes the town of Rhinebeck, county of Dutchess, to establish hotel and motel taxes within such town; provides for the repeal of such provisions upon the expiration thereof.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill explicitly authorizes a new local tax (hotel/motel) within Budget & Taxes framework, directly advancing tax policy implementation.95% confidence

in committee · New York · Assembly Jan 7, 2026

A 4020: Provides a tax credit for the installation of certain fire sprinkler systems

This bill provides a 25% tax credit for residential property owners in New York who install fire sprinkler systems. It directly affects homeowners in municipalities that do not currently require sprinklers as a condition of building or renovation. The credit covers 25% of labor and materials costs, with a maximum annual limit of $5,000 per property. The credit applies to taxable years beginning January 1, 2025, and can be carried forward if it exceeds the taxpayer's annual tax liability. It does not apply to properties in areas already mandating sprinkler systems.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit (25% of costs) for residential sprinkler installations, offering tax relief to homeowners, aligning with support indicators for middle-income tax relief.95% confidence

Sub-Topics Tax Credits

Track

in committee · New York · Assembly Jan 7, 2026

A 6157: Relates to school district unexpended surplus funds

Relates to school district unexpended surplus funds; provides that for the 2027--2028 school year and thereafter, surplus funds shall mean any operating funds in excess of six percent of the current school year budget, and shall not include funds properly retained under other sections of law.

Topics ✓ Budget & TaxesSupports Budget & TaxesRedefines school district surplus funds threshold to promote fiscal responsibility by limiting carryover, aligning with budget management policies.85% confidence

Sub-Topics State Budget

Track

in committee · New York · Assembly Jan 7, 2026

A 4948: Provides earned income tax credit to youth workers, increases standard deduction for individuals 18 to 24, and provides for deduction of student loan interest

Provides an earned income tax credit to youth workers; increases the standard deduction for individuals eighteen to twenty-four years of age; provides for the deduction of student loan interest; provides for the expiration of such provisions.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credits/deductions for youth workers and students, reducing taxable income for lower/middle-income groups per EITC and standard deduction increases.95% confidence ✓ EducationSupports EducationProvides student loan interest deduction and tax credits for young adults, reducing financial barriers to higher education access.85% confidence

Sub-Topics Income Tax Tax Credits Student Financial Aid

Track

in committee · New York · Assembly Jan 7, 2026

A 7494: Relates to real property tax lien transfers; repealer

Establishes provisions for real property tax lien transfers to assist homeowners facing foreclosure based on unpaid taxes; repeals existing provisions relating to acceptance of taxes from certain loan corporations.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief for homeowners facing foreclosure due to unpaid taxes, aligning with tax relief indicators for lower/middle income.85% confidence ✓ HousingSupports HousingPrevents foreclosure for homeowners with unpaid taxes, protecting housing stability and property rights per bill's purpose to assist homeowners facing tax-related foreclosure.95% confidence

Sub-Topics Property Tax Mortgages Property Taxes

Track

in committee · New York · Senate Jan 7, 2026

S 1392: Requires the state to reimburse municipalities for loss of real property tax revenue resulting from establishment of community residential facilities

Requires the state to reimburse municipalities for loss of real property tax revenue resulting from the establishment of community residential facilities for the disabled.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill mandates state reimbursement for municipal tax revenue loss, increasing state spending to offset budget impacts from disabled facilities, aligning with fiscal responsibility and funding support.95% confidence ✓ HousingSupports HousingReimburses municipalities for lost taxes on disabled housing facilities, removing financial barriers to development of housing for vulnerable populations.90% confidence

Sub-Topics Property Tax Revenue Property Taxes

Track

in committee · New York · Assembly Jan 7, 2026

A 6000: Provides for the advance payment of the earned income tax credit

This New York State bill allows for advance payments of the Earned Income Tax Credit (EITC) to qualifying low-income workers, replacing the current system where refunds are issued after annual tax filing. Eligible workers - including those aged 19 or older (down from 25) and without children - will receive four payments: three during the year (20% of the expected credit) and one adjusted payment after the tax year ends. The bill also increases the credit percentage for 2027 and later years (up to 40%), raises the income threshold for phaseout to $24,960 (from $11,610), and includes annual inflation adjustments. Payments will be delivered via direct deposit or electronic benefit transfer (EBT) card.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands EITC access with advance payments for low-income workers, providing direct tax relief and strengthening tax credit funding for qualifying individuals.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentExpands EITC access for low-income workers, providing earlier financial support and increasing benefits through lower age requirements and advance payments.95% confidence

Sub-Topics Income Tax Tax Credits

Track

in committee · New York · Assembly Jan 7, 2026

A 7588: Enacts the New York small business growth and support act

Enacts the "New York small business growth and support act"; authorizes certain tax exemptions for newly established small businesses during their first three years of operations.

Topics ✓ Budget & TaxesSupports Budget & TaxesAuthorizes tax exemptions for small businesses during first three years, providing direct tax relief to support startup growth and fiscal management.95% confidence

Sub-Topics Business Taxes Tax Incentives Tags Small Business

Track

in committee · New York · Assembly May 8, 2025

A 3004: CAPITAL PROJECTS BUDGET

This bill, A 3004, makes and renews appropriations for the state's capital projects budget, allocating funds for various government construction programs and projects. It ensures that any unspent money from prior years designated for these capital projects remains available for the fiscal year starting April 1, 2025. A key provision allows the budget director to withhold these funds if the state projects a general fund imbalance of $2 billion or more in fiscal year 2025-26. However, certain payments, such as public assistance and debt service, are exempt from these potential withholdings. The budget director must deplete a $2 billion reserve first and notify the legislature, which then has the opportunity to propose an alternative withholding plan.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllocates capital project funds with fiscal safeguard (withholding if $2B imbalance), promoting responsible budget management per topic indicators.90% confidence

Sub-Topics Appropriations Debt & Bonds State Budget

Track

in committee · New York · Assembly Sep 8, 2025

A 7730: Creates a wage tax credit for employers who employ New York national guard members, reservists, volunteer firefighters and EMS personnel

This bill would create a $1,500 wage tax credit for New York employers who hire qualifying individuals: New York National Guard members, reservists, volunteer firefighters, and EMS personnel. To qualify, an employee must work for the employer for at least six months. The credit reduces the employer's state tax liability, with any unused portion carried forward to future tax years (but not refunded with interest). It applies to taxable years beginning January 1, 2027, and is currently pending legislative action.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $1,500 tax credit for employers, reducing state tax liability for qualifying hires, providing direct tax relief.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides tax credit to employers hiring specific worker groups (Guard, firefighters, EMS), incentivizing employment and supporting their workforce participation.85% confidence ✓ VeteransSupports VeteransBill creates wage tax credit for employers hiring National Guard/reservists (veterans), directly supporting veteran employment through financial incentives.95% confidence

Sub-Topics Tax Credits National Guard & Reserve

Track