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.
Bill S 4623 requires the Board of Regents to obtain legislative approval (via a majority vote in the legislature) before adopting any rule or regulation that imposes an "unfunded mandate" on school districts. An unfunded mandate is defined as a rule requiring schools to pay for new programs, higher service levels, or other costs without additional state funding, or rules likely to raise local property taxes. This directly affects school districts (which would bear the costs) and the Board of Regents (which must seek legislative consent for such rules). The bill creates a specific process to prevent new financial burdens on schools without legislative oversight.
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.
This bill increases the city of Mount Vernon's tax on deeds (the fee paid when buying or selling property) from its previous rate to 1.5% of the property's value. It directly affects anyone buying, selling, or transferring real property within Mount Vernon, including homebuyers and sellers. The tax applies to all property conveyances (transfers) regardless of where negotiations occur, with a $100,000 exemption on the property value and no tax for deals finalized before September 1, 1984. The bill amends existing tax law to set this new rate and requires payment before a deed can be recorded.
This bill allows school districts to provide property tax exemptions for volunteer firefighters' primary residences within their district. To qualify, firefighters must be certified members of a local fire company for at least five years, reside in the district, and live in the property as their main home. The exemption covers up to $12,000 in tax value (adjusted by state rates) and requires school districts to adopt local rules through public hearings. Firefighters with 20+ years of service may qualify for a lifetime exemption if their residence remains in the district.
This bill authorizes the town of Montgomery to impose a 5% tax on hotel, motel, and bed-and-breakfast room rentals, excluding permanent residents (those staying 90+ consecutive days). The tax would be collected by the hotel or motel owner from guests and paid to the town’s chief fiscal officer, with revenues deposited into the town’s general fund for any lawful purpose. Certain entities, including the state government, non-profits, and the U.S. federal government, are exempt from the tax. The tax would expire automatically two years after the bill’s effective date.
