Budget & Taxes (Tax Credits)

in committee · New York · Senate Jan 7, 2026

S 8171: Establishes the contract New York program; establishes the contract New York tax credit

Establishes the contract New York program to provide tax credits to corporations contracting with emerging microbusinesses; directs the department of economic development and the empire state development corporation to create and maintain a registry of emerging microbusinesses and to biannually implement best practices for engaging corporations to utilize such registry; establishes the contract New York tax credit for New York corporations with eligible contracts with emerging microbusinesses.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCreates corporate tax credit for contracts with microbusinesses, providing tax break to corporations, aligning with 'oppose' indicator of tax breaks for wealthy entities.85% confidence

Sub-Topics Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 7926: Defines film zone and excludes the film zone from the additional empire state film production credit

This bill (A 7926) modifies New York's film production tax credit by defining a specific "film zone" and excluding it from eligibility. It creates a 25-mile radius around Columbus Circle in Manhattan as the "film zone" and removes this area from the list of qualifying locations for the additional Empire State film production credit. Film producers seeking this tax credit (based on wages and production costs in qualifying counties) will no longer be eligible if their principal photography occurs within this defined Manhattan zone. The credit remains available for productions meeting the requirements in all other specified counties outside the film zone.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExcludes film zone from tax credit, restricting eligibility and reducing state tax expenditure for that area.95% confidence

Sub-Topics Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 7016: Relates to expanding New York's manufacturing tax incentive to S corporations

This bill extends New York's existing manufacturing tax incentive program to S corporations that qualify as New York manufacturers. It allows shareholders of these S corporations to claim a tax credit based on distributions received from qualifying manufacturing businesses, rather than only C corporations previously eligible. The key mechanism adjusts tax law provisions to calculate the credit using a formula tied to shareholder distributions and income derived from New York manufacturing activities. This change directly affects S corporation shareholders operating in New York's manufacturing sector by providing them access to a tax benefit previously unavailable to their entity structure.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill expands tax credit to S corporations, reducing state revenue. This weakens tax base per 'oppose' indicators (weakens tax system, reduces revenue).85% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 7643: Relates to the pass-through entity tax credit and the city pass-through entity tax credit

Provides that the aggregate amount of pass-through entity credits claimed by all partners, members or shareholders of an electing partnership or electing S corporation shall not exceed eighty-seven percent of the tax due.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCaps pass-through entity tax credits at 87% of tax due, restricting tax relief and protecting state revenue.90% confidence

Sub-Topics Business Taxes Tax Credits

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in committee · New York · Assembly Jan 7, 2026

A 4106: Disregards the federal child tax credit in calculating an individual taxpayer's federal adjusted gross income

Disregards any amount included in an individual taxpayer's federal adjusted gross income as a result of the federal child tax credit for purposes of calculating an individual taxpayer's federal income tax deduction.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill removes tax credit from state tax calculation, increasing burden on families eligible for federal child tax credit.95% confidence

Sub-Topics Income Tax Tax Credits

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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 · 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 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 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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in committee · New York · Senate Jan 7, 2026

S 4704: Repeals section 28 of the tax law relating to the biofuel production credit

This bill repeals section 28 of the tax law, which previously provided a production credit for biofuels. It directly affects biofuel producers who relied on this tax credit to reduce their tax liability. The repeal removes the credit from the tax code, effective for taxable years beginning after the bill's effective date (January 1 following enactment). This is a concrete policy change altering tax treatment, not a procedural or commemorative measure.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRepeals tax credit for biofuel producers, reducing tax relief and weakening industry incentives under tax law.95% confidence ✗ EnergyOpposes EnergyRepeals tax credit for biofuels, removing financial support for renewable energy production.95% confidence ✗ EnvironmentOpposes EnvironmentRepealing biofuel tax credit weakens financial support for clean energy production, directly opposing environmental protection goals by reducing incentives for low-emission fuel alternatives.85% confidence

Sub-Topics Tax Credits Tax Incentives

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