S 2429 creates a New York state tax credit for employers who hire residents from targeted groups (like veterans, ex-offenders, or long-term unemployed individuals) as defined by federal law. Employers can claim up to $500 per eligible employee annually, with a total lifetime cap of $90 million and an annual limit of $30 million. The credit reduces state tax liability but cannot lower tax below minimum thresholds, and any unused credit is treated as an overpayment. The program applies to wages paid starting January 1, 2026, and expires December 31, 2028. It directly affects New York employers hiring from specified target populations.
Creates a tax credit for small businesses that sell a certain percentage of products produced in New York state; provides such small businesses include independently or privately-owned cafes, restaurants, eateries, bars, pubs, breweries, distilleries, orchards, food trucks, retail stores, farm stands, hotels, or motels.
This bill creates a tax credit allowing New York homeowners and businesses to deduct up to 50% of construction costs (capped at $5,000) for installing permeable surfaces like driveways, sidewalks, or parking lots. Homeowners must reside in New York for 24 months and own residential property, while businesses must be based in New York for 36 months. The credit applies to projects completed during the taxable year, with "permeable surfaces" defined as paving that allows water and air movement. It takes effect immediately for qualifying projects.
Bill A 7308 establishes a tax credit for producers of sustainable aviation fuel (SAF) sold in the state for flights departing within the state. Starting January 1, 2025, producers can claim $1 per gallon, increasing by two cents for each additional one percent reduction in carbon dioxide emissions above 50%, up to a maximum of $2 per gallon. To be eligible, producers must obtain a certificate from the New York State Energy Research and Development Authority (NYSERDA). The bill defines SAF as liquid fuel derived from renewable or waste sources, excluding palm or petroleum, that achieves at least a 50% lifecycle greenhouse gas emission reduction. The total amount of tax credits issued annually is capped at $30 million, and any credit exceeding a taxpayer's liability will be refunded.
This bill creates a tax credit for New York employers who pay down their employees' undergraduate student loan debt. Employers can claim a credit equal to the amount they pay toward an employee's federal, state, or institutional undergraduate loan debt (including interest), up to $10,000 per employee annually. The credit applies to loans related to undergraduate programs and covers both principal and interest payments. It directly affects employers who choose to assist employees with student debt and employees who receive this financial support.
S 4383 creates a New York State tax credit for residents who pay for qualified caregiving expenses for eligible family members. It directly affects New York residents with a combined income under $150,000 (or $75,000 individually) who provide unpaid care to a family member needing assistance with daily living activities (like bathing or eating) and living in New York. The credit covers up to 50% of qualifying expenses - such as home health services, adult day care, or home modifications - capped at $3,500 annually per family. The credit is limited to $35 million total per year, allocated on a first-come, first-served basis, and expires after 2028.
Provides a tax credit for certain durable medical equipment equal to fifty percent of the cost to purchase and install durable medical equipment in a residence.
S 4057 extends New York's historic homeownership rehabilitation tax credit window, allowing eligible homeowners to claim the credit for tax years beginning after 2025 (previously expiring in 2025). It maintains a $50,000 annual credit limit per home (reducing to $25,000 after 2025) for qualified rehabilitation costs of certified historic properties. The bill also adds new reporting requirements: the state tax commissioner must annually report credit claims and utilization data by location and project size to state officials and the public. These reports will include details like certified project counts, credit values, and housing unit changes before/after rehabilitation. The bill directly affects homeowners rehabilitating historic properties in New York who qualify for the tax credit.
This bill (S 6624) provides a New York state tax credit equal to the cost of fishing and hunting licenses for volunteer firefighters and ambulance workers. Specifically, it covers the cost of "small and big game licenses" and fishing licenses for these volunteers, as defined by existing benefit laws. The tax credit directly affects eligible volunteer emergency service workers who pay for these licenses. It does not provide free licenses but reimburses the cost through a tax credit. The bill amends environmental conservation law to add this provision, effective immediately.
Establishes a supplemental household and dependent care credit payment for taxpayers who are eligible for certain household and dependent care services necessary for gainful employment.
