Establishes a clinical preceptorship personal income tax credit for certain health care professionals who provide preceptor instruction to students studying to be a health care professional.
This bill increases tax credits for developers redeveloping brownfield sites (abandoned industrial properties with potential contamination). It sets tiered credit limits: $35 million for standard sites, $45 million for manufacturing sites, and $70 million for "qualified project sites" meeting specific criteria. To qualify for the highest credit, projects must be in cities under 100,000 population, include affordable housing (25% of units), have transportation access, and exceed $250 million in total project value. These changes directly affect developers of qualifying brownfield sites who meet all criteria for enhanced tax incentives.
Requires the deposit, into the dedicated highway and bridge trust fund, of a portion of the sales tax collected on each gallon of motor fuel sold at retail; increases the amount to be deposited over time.
This bill exempts first-time homebuyers from the mortgage recording tax when purchasing a primary residence. It defines "first-time homebuyer" as an individual who has never owned a primary home, isn't married to someone who owned one in the past three years, and doesn't own vacation or investment properties. The exemption applies to mortgages executed on or after the law's effective date (January 1st following enactment). This directly affects qualifying first-time homebuyers by reducing their closing costs for purchasing a primary residence.
Requires the state to pay for late fees or fines incurred by state employees when the legislature and the governor fail to pass a timely state budget and make a provision for state employees to be paid.
Establishes an unemployment bridge program and an unemployment bridge program fund to provide wage replacement to workers that do not qualify for unemployment insurance or other worker wage assistance programs and who have lost a major source of income due to lost work (Part A); establishes the "Digital Ad Tax Act (DATA)" creating a tax on digital advertising services (Part B).
Relates to school property and real property taxes; establishes the blue ribbon commission on property tax reform; relates to state assistance for local real property reassessment, state assistance to assessing units within a school district, providing a fixed real property assessed value for residential real property owned by certain persons over the age of 65 and providing state reimbursement to municipalities for lost real property tax revenue; requires the state to fund certain programs mandated for municipal corporations or school districts.
Bill A 8752 would exempt the first $50,000 of taxable income for businesses employing 20 or fewer employees. This applies to all such businesses starting with taxable years beginning January 1, 2027, reducing the tax burden on their initial earnings. The exemption covers income subject to taxation under existing law, not all business revenue. The bill is currently referred to the Ways and Means committee.
This bill raises the income limit for senior citizens (62+) and disabled residents to qualify for property tax abatements under New York's real property tax law. It increases the maximum combined household income from $50,000 to $75,000 for both groups, effective July 1, 2025. The change directly affects seniors and disabled residents whose household income falls below this new threshold, allowing them to maintain tax abatements they previously lost at higher income levels. The bill amends existing tax law provisions to adjust these income limits annually, with the $75,000 standard replacing the prior $50,000 limit.
Requires that any ballot proposition creating a state debt shall contain an estimate of the amortization period and the total expected debt service payable thereon until the bonds issued pursuant to such proposition are retired; relates to deposits to the tax stabilization reserve fund; provides that at least 10% of any surplus shall be used to pay down state debt.
