Budget & Taxes

in committee · New York · Senate Jan 7, 2026

S 2584: Provides that excess investment tax credit amounts may be refundable to operators of a farm operation

This bill allows farm operators whose primary income comes from farming to receive refunds for excess investment tax credits starting in 2025. If a farmer’s tax credit exceeds their tax liability for a year, they can elect to treat the difference as an overpayment refundable under existing tax law. The refund option applies only to credits from specific tax provisions (sections 210-B and 606 of the tax law) and requires the taxpayer’s primary income to be from a farm operation as defined in agriculture law. It does not change credit amounts but provides a new refund mechanism for qualifying farmers. The change takes effect January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief to farm operators by refunding excess investment tax credits, aligning with tax relief indicators under Budget & Taxes.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 473: Relates to providing a tax credit for spay or neuter services

This bill creates a tax credit for New York individual taxpayers who pay for spaying or neutering their cats or dogs. It allows an 80% credit on the actual service cost, capped at $200 per pet per year, requiring a receipt from a licensed state veterinarian. The credit applies to services performed in taxable years beginning on or after January 1, 2025. It directly affects pet owners seeking to offset these veterinary expenses through their state tax return.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing taxable income for pet owners, aligning with tax relief for middle-income households through direct fiscal benefit.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 6966: Provides for a tax credit for a certain amount of money expended on the care of a qualifying disabled child

S 6966 creates a tax credit for taxpayers who pay for the care of a qualifying disabled child, such as one with autism, developmental disabilities, or a physical disability. The credit equals 20% of up to $2,400 in qualifying care expenses (e.g., home health services, day care, equipment), plus an additional $75 if expenses exceed $240 annually. To qualify, the child must live with the taxpayer and be within the third degree of family relation. The credit reduces tax liability, and any unused portion is paid as a refund without interest.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 20% tax credit on disabled child care expenses, reducing taxpayer liability and providing direct tax relief for eligible families.95% confidence ✓ HealthcareSupports HealthcareProvides tax credit for healthcare expenses (home health, equipment) for disabled children, reducing out-of-pocket costs and improving access to care services.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 2024: Authorizes the independent budget office of the city of New York to obtain certain tax data for purposes of evaluation

This bill (S 2024) allows New York City's Independent Budget Office (IBO) to access specific tax data for evaluating how city tax policies affect revenue. It amends city law to explicitly permit the IBO to inspect taxpayer reports for "tax expenditure evaluations" under Section 11-2901, while maintaining existing confidentiality protections for other uses. The IBO can now use this data to analyze tax programs' effectiveness and cost, without disclosing individual taxpayer details. This change directly affects the IBO's ability to conduct fiscal research, not taxpayers or tax rates. The bill focuses on procedural access, not altering tax laws or creating new obligations.

Topics ✓ Budget & TaxesSupports Budget & TaxesAuthorizes NYC IBO to access tax data for evaluating policy effectiveness, enhancing fiscal oversight and transparency per bill summary.92% confidence

Sub-Topics Government Spending

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in committee · New York · Assembly Jan 7, 2026

A 4927: Relates to waiving school taxes by a town, city, or county industrial development agency

This bill prohibits town, city, or county industrial development agencies from waiving taxes that would otherwise be paid to school districts. It directly affects school districts by ensuring they receive all taxes that would have been collected from properties or developments under these agencies' jurisdiction. The key provision requires agencies to collect all applicable taxes instead of entering into agreements that replace tax payments with alternative payments. This change ensures school districts maintain their regular revenue streams from local development activities.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill prevents industrial development agencies from waiving school taxes, ensuring school districts receive full tax revenue, directly protecting public school funding and fiscal responsibility.95% confidence ✓ EducationSupports EducationBill prohibits tax waivers that would reduce school district revenue, directly protecting educational funding by ensuring full tax collection for schools.95% confidence

Sub-Topics Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 3532: Relates to providing an asbestos remediation tax credit

Provides an asbestos remediation tax credit; allows for a twenty percent credit of all eligible costs which are incurred as a result of asbestos remediation, not to exceed $1,000,000.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides a 20% tax credit for asbestos remediation costs, directly reducing tax liability and aligning with tax relief policies under Budget & Taxes.95% confidence ✓ EnvironmentSupports EnvironmentAsbestos remediation reduces hazardous environmental pollution; tax credit incentivizes cleanup of a known carcinogen, aligning with pollution control goals.90% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 6663: Withholds the salary of the governor and members of the legislature if the budget is late until final ratification of the budget

Withholds the salary of the governor and members of the legislature if the budget is late until final ratification of the budget; forfeits withheld salary.

Topics ✓ Budget & TaxesSupports Budget & TaxesEnforces timely budget passage via salary withholdings, promoting fiscal accountability and responsible budget management per topic definition.95% confidence

Sub-Topics State Budget

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in committee · New York · Senate Jan 7, 2026

S 241: Relates to excluding expenditures for school resource officers employed by a municipality and assigned to a school district from tax levy limitations

S 241 excludes costs for school resource officers (SROs) employed by a municipality but assigned to a school district from tax levy limits that restrict annual tax increases. This means school districts can cover these security personnel expenses without triggering the usual requirement for voter approval to raise taxes above the limit. The exemption applies only when the district complies with specific requirements under real property tax law. The bill directly affects school districts and municipalities managing school security funding.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts SRO costs from tax levy limits, enabling school districts to fund security without voter approval, supporting public safety funding under fiscal management.85% confidence ✓ EducationSupports EducationExempts school resource officer costs from tax limits, enabling districts to fund security personnel without voter approval, advancing school safety funding.90% confidence

Sub-Topics Property Tax School Safety

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in committee · New York · Assembly Jan 7, 2026

A 517: Provides a deduction against adjusted gross income for dues paid by small businesses to chambers of commerce

This bill would allow small businesses (defined as those with 50 or fewer employees) to deduct dues paid to their local incorporated chamber of commerce from their adjusted gross income. The deduction applies only to dues not used for lobbying activities, and the chamber must be incorporated under specific state law. It would take effect for tax years beginning on or after January 1, 2027. This policy change directly affects small businesses seeking to reduce taxable income through chamber membership costs.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax deduction for small business dues, reducing taxable income and offering tax relief to qualifying businesses.90% confidence

Sub-Topics Business Taxes Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 4771: Relates to withholding the governor and lieutenant governor's salaries until the legislative passage of the budget occurs

This bill requires that the governor and lieutenant governor's bi-weekly salary payments be withheld if the legislature has not passed a budget by the start of a fiscal year. Payments resume and any withheld amounts are paid in full once the budget is approved. The bill defines "legislative passage of the budget" as both houses of the legislature acting on the governor's budget proposal, with the comptroller confirming it covers state operations for the coming year. It directly affects the governor and lieutenant governor by linking their salary payments to the timely passage of the state budget.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enforces fiscal accountability by withholding executive salaries until budget is passed, promoting timely budget adoption per fiscal management standards.95% confidence

Sub-Topics Audits & Accountability State Budget

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