Budget & Taxes

in committee · New York · Senate Jan 7, 2026

S 458: Relates to certain real property tax exemptions for fire districts, fire protection districts and ambulance districts

Eliminates the real property tax exemption for fire districts, fire protection districts and ambulance districts developed through industrial development agencies in certain counties.

Topics ✓ Budget & TaxesSupports Budget & TaxesEliminates tax exemptions for fire/ambulance districts, increasing state revenue by closing a tax loophole per bill summary.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 2444: Exempts the purchase of certain oral hygiene products from the payment of sales tax

This bill (A 2444) exempts toothpaste, toothbrushes, and dental floss from state sales tax. It directly affects consumers who purchase these specific oral hygiene products, as they would no longer pay sales tax on them. The law adds these items to the existing list of tax-exempt products under the tax code. The exemption would take effect 90 days after the bill becomes law.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts essential oral hygiene products from sales tax, providing direct tax relief to consumers, particularly benefiting lower-income households purchasing basic necessities.90% confidence

Sub-Topics Sales Tax

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in committee · New York · Assembly Jan 7, 2026

A 5453: Extends historic homeownership rehabilitation tax credit and requires additional reporting

This bill extends New York's historic homeownership rehabilitation tax credit window through 2025, allowing homeowners to claim up to $50,000 in credits for rehabbing qualified historic homes during tax years before 2025, and $25,000 for years starting in 2025. It directly affects homeowners who rehabilitate historic properties, requiring them to meet specific criteria like exterior rehabilitation costs and excluding pre-2007 work. The bill adds mandatory annual reporting requirements, mandating the state commissioner to publicly share detailed data on credit usage - including project locations, housing units before/after rehab, and credit values - by November 1 each year. These reports must be submitted to state leadership and made available online. The changes take effect for tax years beginning January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends tax credit for historic home rehabilitation, providing tax relief to homeowners through increased credit limits ($50k/$25k) and maintaining fiscal incentives.95% confidence ✓ HousingSupports HousingExtends tax credits for historic home rehabilitation, encouraging preservation and development of existing housing stock, directly supporting housing development.95% confidence

Sub-Topics Tax Credits Historic Preservation Homeownership

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in committee · New York · Assembly Jan 7, 2026

A 9204: Relates to excise tax on telecommunication services

Relates to excise tax on telecommunication services (Part A); relates to temporary municipal assistance sales and compensating use taxes for cities of one million or more on telecommunication services (Part B).

Topics ✓ Budget & TaxesSupports Budget & TaxesBill imposes excise tax on telecommunication services, directly increasing state revenue through taxation as part of fiscal management.95% confidence

Sub-Topics Sales Tax

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in committee · New York · Assembly Jan 7, 2026

A 7479: Enacts the "homebuyer renovation property tax exemption act"

Enacts the "homebuyer renovation property tax exemption act" to grant an exemption of up to fifteen thousand dollars from taxation levied by or on behalf of any county, city, town, village or school district in which such residential property is located for a period of five years from the date of purchase of the property; defines "primary residential property".

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides $15k property tax exemption for homebuyers, reducing tax burden and aligning with tax relief support indicator for primary residences.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 7526: Alters the definition of a qualified historic home for the purposes of the historic homeownership rehabilitation credit

This bill changes the definition of a "qualified historic home" to qualify for New York's historic homeownership rehabilitation tax credit. It adds three new location requirements: the home must be in a federally designated targeted area, in a census tract with income at or below the state median, or in a city under 1 million population with a poverty rate over 15%. These changes determine who can claim the credit for rehabilitating certified historic properties. The bill directly affects homeowners seeking tax benefits for restoring historic homes in specific geographic areas. The amendment takes effect immediately upon enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill targets tax credit eligibility to lower-income areas (poverty rate >15%, income ≤ median), providing tax relief for historic homeownership in disadvantaged regions.85% confidence ✓ HousingSupports HousingBill targets historic rehabilitation tax credit to low-income areas (census tracts below median income, high-poverty cities), advancing affordable housing access through targeted incentives.90% confidence

Sub-Topics Tax Credits Historic Preservation Homeownership

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in committee · New York · Assembly Jan 7, 2026

A 7958: Creates the "Paid-In Act"; exempts used books from sales use taxes, up to one hundred dollars per item

Bill A 7958, titled the "Paid-In Act," proposes to exempt used books from sales and use taxes. This means that individuals purchasing second-hand books would not pay sales tax on those items. The exemption applies to used books with a price of up to one hundred dollars per item. This bill directly affects consumers buying used books and the businesses that sell them.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts used books from sales tax, providing tax relief for consumers purchasing second-hand books, aligning with middle-income tax relief indicators.95% confidence

Sub-Topics Procurement Sales Tax

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in committee · New York · Assembly Jan 7, 2026

A 3474: Relates to a working families tax credit

Provides for a working families tax credit; directs quarterly prepayment of the credit; provides for a sliding reduction in the credit for incomes which exceed a certain threshold.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for working families, reducing tax burden for lower/middle income households per bill summary.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 288: Relates to the volunteer firefighters' and ambulance workers' credit; repealer

Repeals the provision of law that volunteer firefighters and ambulance workers who receive a real property tax exemption for service may not receive the income tax credit for such service.

Topics ✓ Budget & TaxesSupports Budget & TaxesRepeals restriction preventing volunteer workers from claiming income tax credit, providing tax relief for eligible individuals.95% confidence

Sub-Topics Income Tax Property Tax Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 3079: Relates to the employee training incentive program

This bill increases the state tax credit for business training costs from 50% to 70% under the employee training incentive program. It directly affects eligible businesses that provide approved training to employees, allowing them to claim a tax credit covering 70% of qualifying training expenses (up to $10,000 per employee). The change applies to training costs defined in existing law, reducing the tax burden for businesses participating in the program without altering eligibility rules or other program details.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases business tax credit from 50% to 70%, reducing tax burden for participating businesses, directly impacting state tax policy.90% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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