Budget & Taxes (Tax Credits)

in committee · New York · Assembly Jan 7, 2026

A 5661: Relates to calculation of the earned income credit

This bill (A 5661) changes New York State's earned income credit (EIC) calculation for tax years starting in 2026, setting the applicable credit percentage at 45% for qualifying low-income taxpayers. It directly affects New York residents who claim the EIC, increasing their state credit amount. The bill includes a safeguard: if federal actions materially reduce New York's ability to use Temporary Assistance for Needy Families (TANF) block grant funds for the EIC, the credit percentage would drop to 20% for affected years. The change applies to tax years beginning January 1, 2026, and requires state officials to certify any triggering federal event.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases EIC credit percentage to 45% for low-income taxpayers, providing direct tax relief and strengthening state fiscal support for working families.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentIncreases state EIC percentage for low-income workers, expanding financial support for employed individuals through tax credits.95% confidence

Sub-Topics Income Tax Tax Credits

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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 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 · Assembly Jan 7, 2026

A 6774: Relates to the child and dependent care credit

This New York bill increases the state's child and dependent care credit by raising the percentage of the federal credit that New York refunds to qualifying families. It modifies the calculation to provide higher credit amounts for lower-income households, including a 110% credit for incomes under $50,000 starting in 2025. The bill also includes a "reversion event" clause that would reset credit formulas if federal changes significantly reduce state funding for childcare assistance. The policy directly affects New York taxpayers who claim the child and dependent care credit for childcare costs related to work or education.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit for low-income households (110% for under $50k), providing direct tax relief and modifying calculations to prioritize lower-income families.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentIncreases childcare credit for low-income households, reducing a key barrier to workforce participation and supporting employment standards.85% confidence

Sub-Topics Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 9216: Authorizes a tax credit for qualified diaper changing station restroom expenses

This bill creates a tax credit for small businesses that install diaper changing stations and related restroom facilities. Eligible businesses (with under $5 million in annual revenue or fewer than 100 full-time employees) can claim a 70% credit for qualifying expenses, up to $10,000 total over three years. Qualifying expenses include installing free-access diaper changing stations, diaper dispensers (which may charge for products), or renovating restrooms to meet a "family bathroom" standard requiring gender-inclusive access to these facilities. The credit applies to business restrooms, not employee-only spaces, and unused credit can be carried forward for up to five years.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit (70% for qualifying expenses) for small businesses, providing direct tax relief and supporting business investment in family facilities without increasing public spending.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Senate Feb 24, 2026

S 4065: Establishes a sustainable aviation fuel tax credit

This bill creates a tax credit for sustainable aviation fuel producers in New York, offering $1 per gallon (up to $2 per gallon) based on emissions reductions. Producers must meet strict criteria: fuel must reduce lifecycle greenhouse gases by at least 50% compared to jet fuel, be derived from biomass/waste, and avoid palm/petroleum sources. The credit requires certification from the New York State Energy Research and Development Authority (NYSERDA), with a $30 million annual spending cap. It directly affects fuel producers and businesses using qualifying fuel for flights departing from New York airports, aiming to incentivize cleaner aviation fuel adoption.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit with $30M annual cap to fund sustainable aviation fuel production via fiscal incentives, directly advancing state budget allocation for environmental goals.90% confidence ✓ EnergySupports EnergyCreates tax credit for sustainable aviation fuel meeting 50% emissions reduction criteria, directly promoting renewable energy adoption and reducing fossil fuel dependence.95% confidence ✓ EnvironmentSupports EnvironmentBill creates tax credit for sustainable aviation fuel requiring 50% lifecycle GHG reduction, promoting cleaner energy and reducing emissions per strict environmental criteria.95% confidence ✓ TransportationSupports TransportationPromotes sustainable aviation fuel adoption via tax credits, reducing emissions in transportation sector. Aligns with sustainable transportation goals per bill's emissions criteria and funding mechanism.95% confidence

Sub-Topics Government Spending Tax Credits Oil & Gas Airports Transportation Funding

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in committee · New York · Assembly Jan 7, 2026

A 175: Creates a tax credit for businesses that develop a "college to work" program, paying the tuition of individuals in exchange for future employment

Creates a tax credit for businesses that develop a "college to work" program, paying the tuition of individuals in exchange for the individual committing to work for the business after the individual's graduation from an institution of higher learning; provides the tax credit shall be for twenty-five percent of the individual's tuition expenses not to exceed five thousand dollars.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 25% tax credit for businesses (up to $5k/tuition), reducing tax liability and incentivizing private sector investment in education programs.95% confidence ✓ EducationSupports EducationBill creates tax credit for business-funded tuition in higher education, directly enhancing access and reducing student costs through employer partnerships.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill provides tax credit funding for business-sponsored education-to-employment programs, advancing workforce development and job placement opportunities.92% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 5647: Establishes a small business tax credit for certain efforts taken to improve such small business's facility in an effort to reduce the spread of infectious diseases

Establishes a small business tax credit for certain efforts taken to improve such small business's facility in an effort to reduce the spread of infectious diseases.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for small businesses, reducing tax burden to fund facility improvements for public health, aligning with tax relief indicators.95% confidence

Sub-Topics Business Taxes Tax Credits Tags Small Business

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in committee · New York · Senate Jan 7, 2026

S 4095: Creates the empire state music production tax credit

S 4095 creates a tax credit for music production companies in New York State, allowing eligible businesses to deduct 25% of qualified production costs from their state taxes. To qualify, music must be primarily produced and recorded in New York with costs exceeding $25,000 per project, and companies with annual costs over $100,000 (employing at least 10 New York residents) may claim credits collectively. Eligible costs include studio rentals, equipment, musician fees, and production-related travel, but exclude royalties, live concerts, marketing, and distribution. The credit is capped at $25 million annually, allocated by the Empire State Development Corporation based on application date, with no single company receiving more than 10% of the total.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit allowing businesses to deduct 25% of production costs, providing direct tax relief to incentivize industry growth within state budget framework.90% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 4268: Creates a jobs development incentive income tax credit available to employers who employ individuals previously receiving unemployment

This bill creates a $2,400 tax credit for employers who hire individuals who previously received unemployment benefits in New York State. To qualify, an employee must have received unemployment benefits for at least two months, be hired for the first time by the employer, work at least 30 hours per week, and remain employed for 24 consecutive months. The credit is claimed after the 24-month employment period ends and can offset up to the employer's annual income tax liability, with unused portions carried forward for five years. It directly affects employers seeking to hire from the state's unemployment pool and unemployed individuals who meet the benefit and employment criteria.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates employer tax credit ($2,400) to incentivize hiring unemployed individuals, reducing tax liability and promoting job creation through targeted fiscal policy.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentIncentivizes hiring unemployed individuals, reducing unemployment and supporting job creation through tax credits.90% confidence

Sub-Topics Income Tax Tax Credits Tax Incentives Unemployment

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