Budget & Taxes

in committee · New York · Senate Jan 7, 2026

S 4425: Provides for the advance payment of the earned income tax credit

This New York state bill (S 4425) allows qualifying low-income workers to receive advance payments of their Earned Income Tax Credit (EITC) during the year instead of waiting for their annual tax refund. It lowers the age requirement for eligibility from 25 to 19 years old, removes the age 65 ineligibility rule, and increases the EITC credit percentage to 35% for most taxpayers starting in 2027 (with a 15.3% rate for those without children). The bill requires four prepayments: three during the tax year (20% each of the estimated credit) and one adjusted payment after tax filing, all delivered via direct deposit or EBT card. These changes apply to New York residents who meet federal EITC criteria but would otherwise face delays in receiving their credit.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases EITC access and credit rates for low-income workers, providing direct tax relief and strengthening fiscal support for vulnerable populations.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 970: Imposes a tax related to executive compensation

Requires that certain companies pay an annual tax if the chief executive receives compensation 100 to 250 times greater than the median pay of all their employees.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill imposes new tax on excessive CEO pay (100-250x median employee pay), closing a compensation loophole to generate revenue, aligning with 'closing tax loopholes' indicator.95% confidence

Sub-Topics Business Taxes

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signed · New York · Senate Aug 7, 2025

S 6046: Extends the authorization of the county of Steuben to impose an additional one percent of sales and compensating use taxes

S 6046 extends Steuben County's authorization to collect an additional 1% sales and use tax until November 30, 2027. This tax applies to all purchases within Steuben County, directly affecting residents and businesses that pay the tax. The bill specifies that revenue from this tax must be distributed annually to the cities of Hornell and Corning, plus towns and villages across the county, based on each area's property value relative to the total. The extension ensures existing tax revenue-sharing agreements with local governments remain in place through the 2027 deadline.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends Steuben County's existing 1% sales tax authorization, ensuring continued revenue distribution to local municipalities for public services and infrastructure funding.95% confidence

Sub-Topics Revenue Sales Tax

in committee · New York · Assembly Jun 17, 2025

A 4216: Excludes certain food donations from sales tax

This bill amends New York's tax law to exclude from sales tax certain food and drink purchases made by students through approved donation programs or "food points" at school-located restaurants or cafeterias. It directly affects schools (nursery through college) operating under specific exemptions or state authorization, and their meal programs. The key provision removes sales tax when students buy meals without paying cash at the time of service through these donation-based systems. This applies only to non-alcoholic food/drink sold on school premises and excludes alcohol sales. The policy change takes effect 90 days after enactment for qualifying sales.

Topics ✓ Budget & TaxesSupports Budget & TaxesExcludes school food donations from sales tax, providing tax relief for students in meal programs (targeting lower-income families)95% confidence

Sub-Topics Procurement Sales Tax

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in committee · New York · Assembly Jan 7, 2026

A 3901: Relates to the distribution of surplus proceeds from a tax foreclosure sale

This bill establishes clear rules for distributing surplus funds from tax foreclosure sales. If a property sells for more than the unpaid taxes plus costs, the excess must first go to other creditors with liens (like mortgage holders), then to the former owner. Municipalities must notify former owners about potential surplus funds and how to claim them. The law applies to all tax foreclosure sales starting October 1, 2025, and does not cover abandoned properties.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill promotes fiscal responsibility by establishing clear rules for distributing surplus tax foreclosure funds and requiring municipal notification, aligning with topic indicators.85% confidence

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in committee · New York · Assembly Jan 7, 2026

A 5805: Establishes certain credits against income tax for nurses

Establishes a tax credit for full-time nurses and a tax credit for teaching nurses; provides that the amount of such credit shall be five hundred dollars.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides $500 tax credit for nurses, reducing taxable income - direct tax relief for healthcare workers aligns with supporting middle-income tax relief.95% confidence ✓ HealthcareSupports HealthcareTax credit for nurses incentivizes workforce participation, strengthening healthcare delivery and access through financial support for professionals.90% confidence

Sub-Topics Income Tax Tax Credits Healthcare Workforce

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in committee · New York · Senate May 27, 2025

S 1863: Relates to the effectiveness of the hotel and motel tax in the town of Woodbury

S 1863 extends the existing hotel and motel tax in Woodbury for an additional two years, directly affecting hotels and motels operating in the town that currently pay this tax. The bill amends the tax law to remove a previous expiration date (originally set for 11 years after implementation) and makes the tax effective immediately without a future end date. This change ensures the tax continues to fund local services without requiring a new legislative action for the next two years. Note: The bill was substituted by A4315A on May 27, 2025, but this summary reflects its original proposed provisions.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends existing hotel/motel tax to fund local services without expiration, ensuring continued revenue for municipal budgets per bill summary.95% confidence

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in committee · New York · Senate Jan 7, 2026

S 6427: Grants a total exemption from real property taxation for school tax purposes for certain persons seventy-five years of age or over

Grants a total exemption from real property school tax for property owned by a person seventy-five years of age or older, or owned by spouses or siblings if one such person is seventy-five years of age or over, provided the owner has no children in the school district and has resided in the district for 30 years or more.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax exemption for seniors, a form of tax relief reducing school tax burden for qualifying residents.85% confidence

Sub-Topics Property Tax

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in committee · New York · Senate Jan 7, 2026

S 7105: Relates to tax credits for premiums paid for long-term care insurance

This bill (S 7105) increases tax credits for New York taxpayers who purchase long-term care insurance. It sets a maximum credit of $1,000 per policy annually (up to $1,500 for residents with income under $250,000), calculated as 20% of premiums paid. The credit applies only to approved long-term care insurance policies meeting state standards. It affects New York residents buying qualifying long-term care insurance, directly reducing their state tax liability based on premiums paid.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing state tax liability for long-term care insurance premiums, targeting lower-income residents with higher credit limits.95% confidence ✓ HealthcareSupports HealthcareProvides tax credits to reduce long-term care insurance costs, expanding access to healthcare coverage through affordability incentives.95% confidence

Sub-Topics Long-Term Care

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in committee · New York · Assembly Jan 7, 2026

A 2028: Establishes the sustainable communities fund

Establishes the sustainable communities fund; authorizes grants to municipal corporations who meet certain requirements for eligible projects that incorporate smart growth principles or utilize climate resilient and environmentally friendly construction techniques.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates new state fund authorizing grants for municipal projects, directly allocating budget resources toward sustainable development initiatives.90% confidence ✓ EnergySupports EnergyFund supports climate-resilient construction and smart growth, aligning with energy efficiency and renewable infrastructure goals.85% confidence ✓ EnvironmentSupports EnvironmentBill establishes a fund for climate-resilient, environmentally friendly construction projects, directly advancing environmental protection through funding and smart growth principles.95% confidence ✓ HousingSupports HousingBill creates grants for municipal projects using smart growth and sustainable construction, advancing housing development through climate-resilient, environmentally friendly techniques.85% confidence ✓ TransportationSupports TransportationFunds municipal projects incorporating smart growth and climate-resilient construction, directly advancing sustainable transportation infrastructure goals.85% confidence

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