Budget & Taxes

in committee · New York · Assembly Jan 7, 2026

A 3473: Creates a vending to food pantries and soup kitchens tax credit

This bill creates a 50% tax credit for New York farmers who sell locally grown fruits and vegetables to food pantries and soup kitchens. The credit applies only to revenue from these specific sales and cannot be carried forward to future tax years. Farmers must submit sales receipts with their tax returns to claim the credit, which is limited to the taxpayer's annual tax liability. The credit becomes available for tax years beginning January 1, 2026, and directly affects New York-based agricultural producers serving food assistance programs.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 50% tax credit to farmers supplying food pantries, reducing tax liability to incentivize food distribution to essential public services, aligning with fiscal support for community programs.90% confidence

Sub-Topics Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 2453: Relates to a sales tax exemption for zero-emission school buses

This bill exempts the sale of zero-emission school buses, along with necessary parts and equipment, from New York's sales and use taxes. It directly affects school districts and bus purchasers by reducing the upfront cost of transitioning to zero-emission fleets. The key provision adds a new tax exemption to the tax law, defining eligibility based on the Education Law's definition of zero-emission school buses. The exemption takes effect during the first quarterly sales tax period starting at least 30 days after the bill becomes law.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax exemption for school buses, providing sales tax relief to purchasers, aligning with tax relief indicator for Budget & Taxes90% confidence ✓ EducationSupports EducationExempts zero-emission school buses from sales tax, reducing costs for school districts and supporting school infrastructure/transportation funding. Directly aligns with education topic via Education Law definition and operational cost savings.95% confidence ✓ EnergySupports EnergyExempts zero-emission school buses from sales tax, reducing costs for clean energy fleet adoption and directly advancing renewable energy infrastructure transition.95% confidence ✓ EnvironmentSupports EnvironmentBill exempts zero-emission school buses from sales tax, reducing costs to accelerate fleet transition and directly reduce transportation emissions per environmental protection goals.95% confidence ✓ TransportationSupports TransportationBill promotes sustainable transportation by exempting zero-emission school buses from sales tax, reducing costs for transitioning to eco-friendly fleets per Education Law definitions.95% confidence

Sub-Topics Sales Tax Tax Incentives Electric Vehicles Public Transit

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in committee · New York · Senate Jan 7, 2026

S 7036: Authorizes real property taxing jurisdictions to grant a partial tax exemption for property purchased by a clinician in a clinician shortage area

Authorizes real property taxing jurisdictions to grant a partial tax exemption for property purchased by a clinician in a clinician shortage area, as determined by the commissioner of health, which will be such clinician's primary residence and they will practice in such shortage area; provides state aid to taxing jurisdictions which grant the exemption to the extent of the tax savings provided to clinicians.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides partial tax exemption for clinicians' primary residences in shortage areas with state aid to offset revenue loss, aligning with tax relief support indicators.90% confidence ✓ HealthcareSupports HealthcareTax exemption for clinicians in shortage areas improves healthcare access by incentivizing workforce presence in underserved communities. State aid ensures implementation without local budget strain.95% confidence

Sub-Topics Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 5435: Relates to high income personal income tax rates

This bill adjusts New York's highest personal income tax rates for earners with taxable income above $5 million. It increases the top marginal tax rate from 10.30% to 10.80% for income between $5 million and $25 million, and raises the rate for income over $25 million from 10.90% to 11.40% for tax years beginning after 2027. These changes apply to single filers, heads of household, and married taxpayers filing separately. The bill directly affects high-income New Yorkers whose taxable income exceeds $5 million annually.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases top tax rates for high earners ($5M+ income), generating additional state revenue to strengthen fiscal management within budget framework.95% confidence

Sub-Topics Income Tax

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in committee · New York · Senate Jan 7, 2026

S 5468: Relates to allowing a tax exemption for fire extinguishers and fire, heat and carbon monoxide alarms purchased for residential use

Allows a tax exemption for taxpayers in the amount of the purchase price of a fire extinguisher, fire alarm, heat alarm or carbon monoxide alarm purchased for residential use during the month of October.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax exemption for residential safety equipment purchases, directly reducing taxable expenses. Aligns with tax relief indicators for middle-income households.90% confidence

Sub-Topics Sales Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 850: Establishes the first-time homebuyer tax credit act

Establishes the "first-time homebuyer tax credit act"; provides that a qualified taxpayer shall be allowed a credit against the taxes imposed by this article for taxes levied on the taxpayer's primary residence by or on behalf of any county, city, town, village, or school district in which such property is located.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing local property tax burden for first-time homebuyers, aligning with tax relief for middle-income residents.95% confidence ✓ HousingSupports HousingProvides tax credit reducing local taxes for first-time homebuyers on primary residences, directly increasing housing affordability for a key demographic.95% confidence

Sub-Topics Tax Credits Affordable Housing Homeownership Property Taxes

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in committee · New York · Assembly Jan 7, 2026

A 3061: Relates to creating a tax abatement for geothermal well systems

This bill creates a real property tax break for owners of buildings with geothermal well systems installed between 2027 and 2029. It provides a tax abatement equal to 10% of eligible installation costs, capped at $62,500 per year for the compliance period (four years total), reducing annual property taxes. To qualify, applicants must submit certified proof from architects or engineers that the system meets building codes, and maintain the system without safety hazards during the compliance period. The tax break applies to residential, commercial, and condominium properties, but requires no outstanding property taxes or municipal charges during the eligibility period.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax abatement (10% property tax reduction) for geothermal systems, directly offering tax relief per Budget & Taxes topic indicators.95% confidence ✓ EnergySupports EnergyProvides tax incentives for geothermal systems, promoting renewable energy adoption and clean infrastructure investment.95% confidence ✓ EnvironmentSupports EnvironmentTax abatement incentivizes geothermal systems, a clean energy technology that reduces fossil fuel reliance and lowers emissions, directly promoting environmental protection.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 1635: Relates to the formula for the real property tax cap

This bill (S 1635) updates the calculation method for real property tax levy limits used by local governments and school districts in New York. It requires these entities to determine their annual tax cap by: (1) using the highest tax levy from the prior five years, (2) adjusting for tax base growth and payments in lieu of taxes, (3) subtracting specific prior-year expenditures, and (4) applying an allowable growth factor. The changes directly affect all cities, towns, villages, and school districts that set annual property tax rates. The bill modifies existing statutory formulas without altering tax rates or policy outcomes - only changing the procedural calculation method.

Topics ✓ Budget & TaxesSupports Budget & TaxesUpdates tax cap formula to promote fiscal responsibility in local budgeting by linking tax levies to growth metrics90% confidence

Sub-Topics Property Tax

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in committee · New York · Senate May 27, 2025

S 6830: Relates to the imposition of sales and compensating use tax in Schenectady county

This bill extends Schenectady County's authority to impose an additional 0.5% sales and use tax (on top of the existing 3% rate) until November 30, 2027. It modifies the tax law to allow the county to maintain this tax rate for the period beginning June 1, 2023, and ending on the specified date. The policy directly affects residents and businesses in Schenectady County that pay these taxes. The extension provides continued funding flexibility for the county without changing the tax rate or scope.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends Schenectady County's 0.5% sales tax authority to maintain ongoing funding for local services without rate changes, directly supporting county fiscal management.95% confidence

Sub-Topics Sales Tax

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in committee · New York · Senate Jan 7, 2026

S 5261: Increases the child and dependent care tax credit

S 5261 increases the maximum amount of the child and dependent care tax credit for families with children or other dependents to keep pace with rising childcare costs. Starting in 2025, the credit caps rise to $7,500 for three dependents (up to $9,000 for five or more), and for 2026, the limits adjust further (e.g., $18,000 for five or more dependents). The bill updates annual dollar limits based on the number of qualifying individuals, ensuring the credit reflects current expenses. It directly affects taxpayers claiming this credit on their federal tax returns.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases child/dependent care tax credit caps to offset rising childcare costs, providing direct tax relief to families with dependents, aligning with tax relief indicators.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentIncreases child/dependent care tax credit caps, reducing childcare costs for working families and supporting workforce participation through expanded financial benefits.90% confidence

Sub-Topics Income Tax Tax Credits

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