Budget & Taxes

in committee · New York · Assembly Jan 7, 2026

A 2626: Enacts the "mansion tax adjustment act"

This bill raises the sales price threshold for a special tax on high-value residential property sales from $2 million to a higher, annually adjusted amount. It affects sellers of homes or residential properties (including condos and co-ops) priced at or above the new threshold, which will increase yearly based on inflation. The tax rate remains at 1% on the amount exceeding the threshold, calculated using the Consumer Price Index. The adjustment mechanism automatically updates the threshold each year starting in 2027 to reflect rising prices. The bill takes effect immediately upon enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesAdjusts tax threshold for inflation to maintain fiscal relevance of high-value property tax, promoting responsible tax management.85% confidence

Sub-Topics Sales Tax

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in committee · New York · Assembly Feb 25, 2026

A 1193: Provides tax abatement related to the removal of leaded paint

This bill provides property tax relief to owners of residential rental buildings (with three or more units) that permanently remove lead-based paint hazards. Owners can receive a tax abatement equal to the cost of certified lead paint remediation, paid over up to two years, subject to city-established limits. To qualify, the work must be performed by EPA-certified firms, completed after a city adopts a local law for this purpose, and the building must have no delinquent taxes. The tax relief applies only once per building and excludes temporary fixes or routine renovations.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax relief for lead paint remediation, reducing tax burden on qualifying rental property owners through abatement.95% confidence ✓ EnvironmentSupports EnvironmentBill removes lead paint hazards (a pollutant) via tax abatement, reducing environmental contamination. Directly advances pollution control under environmental protection.90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 1133: Authorizes a distinctive "guardians for schools" license plate; and establishes the guardians for schools fund

This bill creates a special "guardians for schools" license plate for New York residents, who pay a $25 annual fee on top of regular registration. The fee funds the "guardians for schools fund," which must be used exclusively for school security improvements like security officers, metal detectors, and safety training. The fund is managed by state officials and cannot be diverted to general state spending. It takes effect 180 days after enactment, with initial plate production costs offset from the fund after one year.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates $25 annual fee (new tax) exclusively funding school security improvements, directly allocating dedicated revenue to public safety program per bill's purpose.95% confidence ✓ EducationSupports EducationCreates dedicated fund for school security improvements (security officers, metal detectors) via license plate fees, directly funding school safety infrastructure.95% confidence

Sub-Topics School Safety

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in committee · New York · Senate Jun 11, 2025

S 8063: Relates to relocation and employment assistance credits

This bill creates a tax credit program for businesses relocating to cities with over one million residents (like New York City). It requires eligible businesses - those operating outside New York state for 24 months prior and relocating operations - to maintain a minimum number of "eligible employment shares" (calculated based on full- and part-time work weeks) and obtain annual city certifications from the mayor or designated agency. Businesses must meet specific thresholds, such as having at least 25% of their New York City employment base or 250 employment shares, to qualify for the credit. Certifications cannot be issued after July 1, 2028, and the program applies to local laws enacted under this article.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credits for relocating businesses, reducing their tax burden and incentivizing economic activity per bill's tax credit program.95% confidence

Sub-Topics Tax Credits Tax Incentives

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signed · New York · Senate May 6, 2025

S 7766: Provides for emergency appropriation for the period April 1, 2025 through May 7, 2025

Bill S 7766 provides emergency appropriations to ensure the continued operation of state government. It authorizes funding for all state departments and agencies, including the executive, legislative, and judicial branches, for the period of April 1 through May 7, 2025. These funds cover essential expenses such as state operations, non-personal service liabilities, and employee fringe benefits. The bill serves as a temporary measure to allow payments until the full annual budget bills for the state fiscal year beginning April 1, 2025, are enacted.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides emergency appropriations to fund essential state operations and services during budget transition period, ensuring fiscal continuity.85% confidence

Sub-Topics State Budget

in committee · New York · Senate Jan 7, 2026

S 1872: Repeals certain provisions establishing a fee for background checks on certain firearm and ammunition purchases and amends the source of funds for the background check fund accordingly

Repeals certain provisions establishing a fee for background checks on certain firearm and ammunition purchases; removes such fees as a source of funds for the background check fund.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRemoves fee funding source for background check fund, defunding a specific program by eliminating a revenue stream.95% confidence

Sub-Topics Fees & Licensing

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in committee · New York · Senate Jan 7, 2026

S 2272: Establishes the empire state performance commission

Establishes the empire state performance commission in the executive department for the purpose of designing and advising the governor and the legislature on the implementation of a performance-management and performance-budgeting system.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates commission to design performance-budgeting system, promoting fiscal responsibility in state budget management per summary.90% confidence

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signed · New York · Senate Aug 21, 2026

S 4887: Authorizes an occupancy tax in the county of Herkimer

This bill authorizes Herkimer County to impose a 5% tax on overnight hotel, motel, and bed-and-breakfast stays. It applies to businesses renting rooms for lodging (excluding government entities, nonprofits, and guests staying 90+ consecutive days). The county can implement this tax via local law, with revenue funding the county's general fund. The tax rate is capped at 5% of the room's daily rental price, and collection mechanisms mirror existing county tax processes.

Topics ✓ Budget & TaxesSupports Budget & TaxesAuthorizes 5% occupancy tax to fund county general budget, increasing local revenue for fiscal management and public services.95% confidence

Sub-Topics State Budget

in committee · New York · Assembly Jan 7, 2026

A 2033: Establishes a deferred compensation health insurance premium deduction

Establishes a tax deduction for a taxpayer who is a beneficiary of a deferred compensation plan and who elects to make a distribution of such deferred compensation in order to pay for qualified health insurance premiums, in an amount equal to six thousand dollars.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax deduction for health insurance premiums using deferred compensation, providing tax relief to eligible taxpayers under state tax policy.85% confidence ✓ HealthcareSupports HealthcareProvides tax deduction for health insurance premiums, reducing out-of-pocket costs and improving affordability for individuals with deferred compensation plans.85% confidence

Sub-Topics Insurance

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in committee · New York · Assembly Jan 7, 2026

A 4419: Relates to the formula for the real property tax cap

This bill amends the formula used by New York local governments and school districts to calculate their annual property tax levy limits. It revises the calculation steps to include factors like the highest past tax levy, tax base growth, payments in lieu of taxes, and allowable growth multipliers, while adjusting for specific prior-year expenditures. The changes directly affect all cities, towns, villages, and school districts that must adhere to the state's property tax cap. The bill is currently referred to the Local Governments committee and takes effect immediately upon enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill revises tax cap formula to include tax base growth, enabling higher levies when tax base expands, supporting local government funding needs.85% confidence

Sub-Topics Property Tax

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