Provides a tax credit for utility bill payments made in taxable years 2025 and 2026 based on the difference of the average monthly utility bill payment in the year in which the credit is claimed and the average monthly utility bill payment in the preceding three taxable years; establishes a moratorium on certain utility bill surcharges until April 1, 2026; provides for the repeal of such moratorium upon expiration thereof.
Requires legislative fiscal impact notes to include objective calculations of anticipated economic impacts for next three years on state or political subdivisions.
S 7248 creates a personal income tax credit allowing taxpayers to deduct up to $500 from their state income tax for purchasing a gun safe. The credit is limited to once every ten years and cannot exceed $500 per taxable year. Taxpayers who claim the credit may apply any unused portion as an overpayment refund, but no interest is paid on the refund. This policy directly affects individuals buying gun safes who file state income taxes.
Establishes the fresh air jobs tax credit for businesses participating in the development or production of clean wind energy buildout programs in this state.
Creates the non-partisan legislative budget office; directs such office shall provide information to legislative committees of the senate and assembly with respect to the state budget, appropriation bills and other bills providing budget authority or tax expenditures; requires such office to report to the temporary president of the senate, the senate minority leader, the speaker of the assembly and the assembly minority leader.
This bill requires state legislators and statewide elected officials (such as governor, comptroller, or attorney general) to obtain tax clearance from New York's Department of Taxation before taking office. It mandates that individuals with unpaid, non-appealable tax debts must resolve them or establish a payment plan within six months of election. If unresolved after six months, a special election is triggered to fill the vacant position. The law defines "past-due tax liabilities" as unpaid taxes with no remaining right to administrative or judicial review.
Requires the state pay taxes on the assessed value of properties of closed state prisons until such prison is reopened, used by another state agency, or is conveyed to a non-governmental entity.
Withholds the governor's salary until the legislative passage of the budget occurs; provides such salary should be withheld if the budget has not passed prior to the first day of the fiscal year and shall not be paid until such passage occurs.
This bill removes sales and use tax on zero-emission school buses and all parts or equipment needed to operate them. It directly affects school districts purchasing these buses by lowering their upfront costs. The tax exemption covers the buses themselves and any required components, such as charging systems or maintenance parts. This policy change makes zero-emission school buses more affordable for public school systems.
This bill (S 7306) exempts New York City residents earning below specific income thresholds from city personal income tax. It sets 0% tax rates for:
- Married couples filing jointly earning under $21,600
- Heads of household earning under $14,400
- Single individuals earning under $12,000
The law amends existing tax brackets to apply these thresholds for taxable years beginning after 2026, directly affecting lower-income NYC residents by eliminating their city income tax liability within these income ranges.
