Budget & Taxes

in committee · New York · Senate Jan 7, 2026

S 1439: Imposes an additional tax on income attributable to long-term capital gain

S 1439 (New York) imposes a new tax on investment income from long-term capital gains, dividends, and other low-taxed federal income types. It directly affects high-income New York residents with significant investment earnings, targeting individuals and estates with taxable income above specific thresholds. The bill adds a 7.5% tax on long-term capital gains above $400,000-$500,000 (depending on filing status), gradually increasing to 15% above $800,000-$1 million. This tax phases in over defined income ranges and is administered like existing state income tax. The bill is currently referred to the Budget and Revenue committee.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes new tax on high-income capital gains, increasing state revenue from targeted investment income to strengthen fiscal management.95% confidence

Sub-Topics Income Tax

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in committee · New York · Senate Jan 7, 2026

S 3033: Relates to a tax deduction for small business employers for certain wages and compensation paid to employees earning minimum wage

Provides a tax deduction for small business employers of 25% of the wages, salary or compensation paid to up to ten employees who earn up to 110% of the minimum wage.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 25% tax deduction for small businesses on low-wage employees, offering tax relief to small employers per bill's explicit tax policy.95% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives Tags Small Business

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in committee · New York · Assembly Jan 7, 2026

A 2002: Provides a tax exemption for property operating as a child day care

This bill creates a 50% property tax exemption for real estate used as a licensed child day care facility, as defined by state social services law. The exemption is optional for local governments - counties, cities, towns, or school districts must pass a local law to adopt it after a public hearing. Property owners operating qualifying day cares would see their tax bill reduced by half, but the exemption ends if the property stops being used for child care. Localities may also choose to limit the exemption to less than 50% through separate local laws.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 50% property tax exemption for licensed child day care facilities, providing targeted tax relief for qualifying properties and supporting childcare services.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 853: Establishes the New York manufacturing adequate domestic equipment credit (NY MADE)

S 853 creates a New York State tax credit called "NY MADE" for manufacturers producing medical equipment or personal protective equipment (PPE) within New York. The credit equals 20% of the wholesale value of qualifying equipment produced above the 2025 average for existing manufacturers, or 30% for new manufacturers starting production after the bill's enactment. It applies to taxable years beginning January 1, 2026, and is designed to support in-state manufacturing of healthcare-related equipment. The bill specifically defines "medical equipment" as devices used for treating illness or injury, excluding general-purpose items.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing liability for healthcare manufacturers, aligning with tax relief indicators for business incentives.95% confidence ✓ HealthcareSupports HealthcareProvides tax incentives for in-state manufacturing of medical equipment/PPE, strengthening healthcare supply chain infrastructure and supporting healthcare-related production.85% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 520: Establishes a forestry stewardship and habitat conservation credit for personal income and business franchise taxes

Bill A 520 creates a tax credit allowing New York landowners to deduct 25% of real property taxes paid on land enrolled in forestry stewardship or habitat conservation programs. To qualify, land must be at least 25 contiguous acres, inspected by DEC-certified biologists, and committed to a 5-year conservation agreement with the Department of Environmental Conservation. The credit is capped at $10,000 annually per taxpayer and applies to personal income and business franchise taxes. Landowners must follow approved conservation plans and record agreements with local authorities to maintain eligibility.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing liability for conservation landowners, providing tax relief under fiscal policy.95% confidence ✓ EnvironmentSupports EnvironmentCreates tax credit for conservation programs, incentivizing habitat protection and forestry stewardship, directly advancing environmental conservation goals.95% confidence

Sub-Topics Tax Credits Conservation Forestry

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in committee · New York · Senate Jan 7, 2026

S 1306: Relates to a property tax exemption for a farm operation certified for the production of organic crops

This bill creates a 3-year property tax exemption for farmland actively transitioning to organic production under USDA certification. It directly affects farms certified by USDA-accredited authorities for organic crop, livestock, or livestock product production. The exemption covers up to 50% of the farm's agricultural land value annually (or more in disaster years), requires the land to remain in agricultural use, and mandates annual reporting to the commissioner. Land must achieve full organic certification by the end of the 3-year period to maintain eligibility.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax exemption for organic farms, reducing tax burden on agricultural land per bill's tax relief mechanism.95% confidence ✓ EnvironmentSupports EnvironmentBill incentivizes organic farming transition (reducing chemical inputs, promoting soil health) via tax exemption, aligning with environmental conservation goals.92% confidence

Sub-Topics Property Tax Sales Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 4778: Establishes a tax on digital ads

S 4778 establishes a 7% tax on digital advertising revenue exceeding $100 million annually for companies operating in New York. It directly affects large digital ad platforms (like social media or search engines) that use personal data for targeted ads, requiring businesses with over $1 million in New York digital ad revenue to file annual tax returns. The tax applies to "annual gross revenues" from digital ads in the state, defined as income before expenses, and takes effect for 2026 tax years. This policy creates a new revenue source by taxing a specific digital business model, avoiding traditional sales tax loopholes.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill imposes new 7% tax on digital ad revenue for large platforms, directly generating state tax revenue to strengthen fiscal management and budget resources.95% confidence ✓ TechnologySupports TechnologyBill taxes digital ads using personal data for targeted advertising, directly targeting a practice tied to data privacy concerns and aligning with regulatory measures for consumer protection.85% confidence

Sub-Topics Sales Tax Data Privacy Social Media

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in committee · New York · Senate Jan 7, 2026

S 5104: Exempts qualified military benefits of veterans from inclusion in a resident's adjusted gross income

Exempts qualified military benefits from inclusion in a resident's adjusted gross income, including any allowance or in-kind benefit other than personal use of a vehicle, received by any former member of the uniformed services of the United States or any dependent of such member by reason of such member's status or service as a member of such uniformed services.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts military benefits from taxable income, providing tax relief to veterans as a targeted tax break.85% confidence ✓ VeteransSupports VeteransExempts veterans' military benefits from taxable income, reducing tax burden and directly supporting financial stability for veterans and dependents.95% confidence

Sub-Topics Veteran Benefits Veteran Education Veteran Housing

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in committee · New York · Senate Feb 3, 2026

S 1419: Allows the alteration or repeal of real property tax exemptions for private institutions of higher education

This bill amends the state constitution to allow state legislatures to alter or repeal property tax exemptions specifically for private colleges and universities. Currently, exemptions for religious, educational, and charitable properties are protected, but this change removes that protection for private higher education institutions. It would enable lawmakers to modify or eliminate tax breaks on property owned by these schools, unlike other exempt properties. The change affects private institutions of higher education directly by making their tax exemptions subject to legislative action.

Topics ✓ Budget & TaxesSupports Budget & TaxesRemoves tax exemption for private colleges, closing a loophole to increase state revenue, strengthening fiscal management under Budget & Taxes.95% confidence ✗ EducationOpposes EducationBill removes constitutional protection for private higher ed property tax exemptions, enabling potential cost increases for institutions and restricting their financial support.95% confidence

Sub-Topics Property Tax

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in committee · New York · Senate Jan 7, 2026

S 2160: Prohibits the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year

Prohibits the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year; applies only to class one and class two properties.

Topics ✓ Budget & TaxesSupports Budget & TaxesPrevents property tax increases when property values drop, providing direct tax relief to homeowners facing reduced valuations, aligning with tax protection indicators.95% confidence

Sub-Topics Property Tax

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