Budget & Taxes (Tax Incentives)

in committee · New York · Senate Jan 7, 2026

S 4660: Repeals the empire state jobs retention program credit

This bill repeals New York's Empire State Jobs Retention Program tax credit, which previously provided tax breaks to businesses that retained or created jobs in the state. It directly affects businesses that had claimed this credit under the existing tax law. The bill removes specific provisions in the tax law and economic development law that established the credit, eliminating the program's legal basis. The repeal takes effect for taxable years beginning January 1st after the law is enacted.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRepeals tax credit for businesses, eliminating a tax incentive and restricting a tax break under Budget & Taxes policy.95% confidence

Sub-Topics Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 1073: Relates to providing a sales and compensating use tax exemption in certain areas of New York city

This bill creates a temporary sales and use tax exemption for businesses in specific Manhattan construction zones. It exempts purchases of goods or services under $110 in value for six months during construction periods, affecting businesses within 100 feet of designated streets like 2nd Avenue segments and 125th Street. The exemption applies only to the listed areas (e.g., 2nd Ave from 15th to 11th Street) and requires the tax commissioner to confirm construction start dates. It directly benefits small businesses operating near approved construction sites in these zones during the exemption period.

Topics ✗ Budget & TaxesOpposes Budget & TaxesTemporary tax exemption reduces state tax revenue during construction, weakening fiscal management and tax collection for the specified period.95% confidence

Sub-Topics Sales Tax Tax Incentives

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died · New York · Senate Jan 7, 2026

S 2177: Relates to establishing the broadband investment tax stabilization (BITS) act

Provides that all equipment used for the transmission and switching of radio signals for the provision of commercial mobile radio service or mobile internet access service no longer constitutes real property subject to the real property tax law.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill exempts broadband equipment from real property tax, creating a tax break for service providers and reducing state revenue, aligning with tax break indicators for businesses.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 4417: Creates a tax credit for manufacturing companies that have one established place of business in the state and relocate at least fifty employees from outside the state

Creates a tax credit for manufacturing companies that have one established place of business in the state and relocate a minimum of fifty employees from outside the state to the state; provides that manufacturing companies shall be allowed a credit in the amount of 2.5 percent of the average salaries of newly created manufacturing jobs multiplied by number of new jobs brought to the state.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill creates tax credit for manufacturing companies, reducing state tax revenue; aligns with 'creates tax breaks primarily for wealthy' (oppose indicator)90% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Tags Economic Development

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in committee · New York · Senate Jan 7, 2026

S 7592: Provides for an angel investor income tax credit

Bill S 7592 creates an income tax credit for "angel investors" who invest in qualifying new businesses. Individual accredited investors, excluding those with controlling stakes or institutional venture capital firms, can receive a credit equal to 25% of their investment, for investments of $25,000 or more. The maximum credit allowed per investment is $250,000, and any unused credit can be carried over to future tax years. To qualify, businesses must be relatively new, have limited revenue, employ fewer than 25 full-time staff with at least 60% in New York, and have received no more than $2 million in previous angel investor credits. This legislation applies to personal and corporate income tax years beginning on and after January 1, 2026.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProvides tax credit for wealthy angel investors, reducing government revenue - aligns with 'oppose' indicator of tax breaks for wealthy.95% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives

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in committee · New York · Senate May 27, 2026

S 6021: Establishes the white elephant housing historic rehabilitation projects tax credit program

Establishes the large projects historic rehabilitation tax credit and the "white elephant" housing historic rehabilitation projects tax credit program for qualified rehabilitation expenditures totaling fifty million dollars or more with respect to a certified historic structure that has been vacant, as determined by local code enforcement or other reasonable means, for at least ten of fifteen consecutive years preceding the date of the taxpayer's application for the rehabilitation credit.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCreates tax credits for large projects ($50M+), reducing tax revenue and aligning with 'tax breaks primarily for wealthy' per indicators.85% confidence ✓ HousingSupports HousingBill creates tax credit for rehabilitating vacant historic housing properties, promoting housing development and preservation of existing housing stock.90% confidence

Sub-Topics Tax Credits Tax Incentives Building Codes Historic Preservation

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in committee · New York · Senate Feb 3, 2026

S 6353: Provides a green infrastructure tax abatement for certain properties in a city of one million or more

Provides a green infrastructure tax abatement for the construction of green infrastructure projects on certain properties in a city of one million or more.

Topics ✗ Budget & TaxesOpposes Budget & TaxesTax abatement reduces government tax revenue, weakening budget base for public services.90% confidence ✓ EnergySupports EnergyTax abatement for green infrastructure projects directly promotes renewable energy development and clean energy investment per bill language.95% confidence ✓ EnvironmentSupports EnvironmentTax abatement incentivizes green infrastructure projects, reducing urban pollution and enhancing environmental protection through sustainable construction.95% confidence

Sub-Topics Tax Incentives Recycling Water Quality

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in committee · New York · Senate Jan 7, 2026

S 1628: Relates to exempting cranes from the petroleum business tax

This bill exempts diesel and motor fuel used in off-road crane operations from the petroleum business tax. It directly affects businesses that operate cranes (such as mobile, hydraulic, crawler, or tower cranes) for construction, demolition, or similar off-site work. The key provision adds a specific tax exemption for fuel used in these cranes, clarifying that the exemption covers all common types of off-road cranes. The change applies to fuel purchased for crane use in non-road applications, not for vehicles or general transportation.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill exempts crane fuel from petroleum tax, reducing state tax revenue and weakening fiscal management by creating a targeted tax break.90% confidence

Sub-Topics Business Taxes Tax Incentives

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in committee · New York · Senate Mar 2, 2026

S 1527: Establishes a sales tax exemption for energy storage

S 1527 creates a sales tax exemption for commercial energy storage systems equipment and their installation costs. This directly affects businesses installing such systems on non-residential properties to store electricity for later use in heating, cooling, hot water, or power. The bill amends tax law to exempt these systems from state sales tax, covering both the equipment and installation services. Local governments must explicitly adopt this exemption in their tax ordinances to apply it.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill creates sales tax exemption for commercial energy storage, reducing state tax revenue and weakening tax base (direct tax cut for businesses).90% confidence ✓ EnergySupports EnergyExempts sales tax on commercial energy storage systems, reducing costs to encourage renewable energy infrastructure adoption.95% confidence

Sub-Topics Sales Tax Tax Incentives Energy Storage

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in committee · New York · Senate Jan 7, 2026

S 5366: Provides a tax credit to corporations that purchase qualified green construction equipment

Provides a tax credit to corporations that purchase qualified green construction equipment equivalent to thirty percent of the total expenses incurred during the taxable year in purchasing such equipment.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProvides corporate tax credit (30% of equipment costs), creating a tax break for businesses, aligning with 'oppose' indicator of tax breaks primarily for wealthy entities.85% confidence ✓ EnergySupports EnergyTax credit for green construction equipment directly incentivizes renewable energy infrastructure investment, aligning with support indicators for clean energy funding.90% confidence ✓ EnvironmentSupports EnvironmentTax credit for green construction equipment directly incentivizes eco-friendly corporate practices, aligning with environmental protection and pollution reduction goals.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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