This bill authorizes Salamanca City School District to create a reserve fund (capped at $5 million) using existing district funds if federal impact aid decreases. The fund would stabilize school tax levies and maintain educational services if federal aid is reduced, directly affecting Salamanca students and taxpayers. Voter approval via a separate ballot question is required before establishing the fund, and withdrawals would be disclosed in annual budget reports. The bill specifies that funds would be drawn from unassigned balances or other existing reserves, not new taxes.
Establishes a tax credit for food service establishment donations to food pantries, in the amount of fifty percent of the marketed value of each of the taxpayer's qualified donations up to six dollars per qualified donation, beginning with the 2027 tax year.
Grants credit against personal income tax to purchasers of residential housing in the amount of any downpayment made on such housing; provides that the maximum credit shall not exceed 5 percent of the purchase price of the residential housing; requires taxpayers to meet eligibility requirements imposed by the state of New York mortgage agency.
This bill authorizes Rockland County to impose two additional sales tax rates: a 0.625% rate (5/8 of 1%) from March 2022 through November 2027, and a 0.375% rate (3/8 of 1%) from March 2027 through November 2027. It directly affects residents and businesses in Rockland County who pay sales tax, as well as towns and villages within the county that receive allocated tax revenue. The law requires the county to distribute 20% of the first tax's revenue to towns/villages based on population, and 16.67% (2027) and 33.33% (2028-2027) of the second tax's revenue to towns/villages with police departments based on full-time police officers - funds cannot be used for police salaries. The bill specifies these tax rates and revenue distribution mechanisms until November 30, 2027.
Establishes a cannabis processor tax credit; authorizes a tax credit that is the equivalent to the licensed processor's cannabis potency tax liability for the year two thousand twenty-three, multiplied by three, but shall not exceed four hundred thousand dollars.
S 2175 exempts EPA-certified low-emission and energy-efficient vehicles from New York's retail sales tax and compensating use tax. This directly affects buyers of qualifying electric, hybrid, or other ultra-low-emission vehicles (defined by EPA certification or a 9+ score on pollution and greenhouse gas ratings). The exemption is funded by offsetting tax revenue losses with proceeds from emissions allowance auctions, capped at $27 million annually. The law takes effect in the first sales tax quarter after enactment and expires December 31, 2028.
Establishes a two-tenths percent tax on digital asset transactions including the sale or transfer of digital assets to fund the expansion of the substance abuse prevention and intervention program to schools in upstate New York.
This bill creates a dedicated "Long Island transportation account" within New York City's transportation assistance fund. It allocates 50% of certain tax revenues (from Section 1299-H of the tax law) specifically to fund MTA operations, infrastructure, and toll reductions in Nassau and Suffolk counties, including projects connecting these counties to Manhattan. Funds must cover transportation costs like maintenance, construction, and services without replacing existing federal or state funding. The account requires unanimous approval from three MTA board members for fund usage, ensuring oversight by state legislative leadership and the governor. This directly affects Long Island residents and MTA services in Nassau and Suffolk counties.
This bill limits charitable contribution deductions for New York residents with over $10 million in annual income. It reduces their state tax deduction for charitable giving by 25% of the amount claimed under federal tax rules. The change applies to future tax years starting from the bill's effective date, directly affecting high-income earners who itemize deductions.
This bill modifies how stock transfer tax revenue is allocated. It gradually increases the percentage of tax rebates paid to taxpayers (from 30% to 80% over time) before directing remaining funds to the Metropolitan Transportation Authority's special assistance fund. The key mechanism is a phased change in rebate rates for stock transactions, with all leftover tax money after rebates being sent to the MTA fund starting in 1981. This directly affects the MTA by providing dedicated funding for its operations through the special assistance fund.
