New YorkA 115612025-2026 Regular SessionHouseWALLET

Enacts into law necessary legislation including extensions and technical corrections

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Bill Overview

Analyzed Economic Effects

8 provisions identified: 2 benefits, 3 costs, 3 mixed.

Brownfield tax credits for 1800 Park

The 1800 Park Avenue site in East Harlem qualifies for state brownfield tax credits. Site prep and on‑site groundwater credits cover costs before and in the placed‑in‑service year and for 60 months after, if first placed in service before the 2031 tax year. The tangible property credit covers the same initial window plus 120 months after first placed in service, if that starts before 2031. The remediated brownfields credit runs for 10 straight tax years starting when qualified property is placed in service, and that start must be by 2031. A buyer can claim if it purchased or was conveyed the site (or part) from the certificate holder by 2031. The site must have entered cleanup before Jan 21, 2005 and received a completion certificate by Oct 24, 2016.

NYC income tax brackets change after 2029

For New York City residents, new city tax tables apply to tax years that start after 2029. Married filing jointly: 1.18% up to $21,600; $255 + 1.435% over $21,600 to $45,000; $591 + 1.455% over $45,000 to $90,000; and $1,245 + 1.48% over $90,000. Heads of household and single/married‑separate/estates have similar four‑tier tables with their own cutoffs and base amounts. The law sets the switch: years before 2030 use the earlier table; years after 2029 use this new table. If the new table cannot apply in a year after 2029, the earlier rates apply for that year.

Nursing homes that cut temp staff pay less

The law creates a five‑year project from Jan 1, 2023 to June 30, 2027 to lower nursing homes’ use of temp staffing. If a facility’s baseline agency use is 50% or less and it cuts agency use by 30% or more, it gets a 50% cut in its state remittance. A 20% to under‑30% cut earns a 25% reduction. It uses CMS Payroll‑Based Journal data. For 2023 it compares Q4 2022 to Q4 2023. For 2027 it compares Q2 2026 to Q2 2027. For 2024 and later it compares the prior‑year four‑quarter average to the current‑year four‑quarter average. If contracted staffing is very low, non‑Medicaid revenue is excluded from the remittance base: 10% or less in Q4 2023, 9% or less in 2024, and 8% or less in 2025–2027. To get a reduction, the facility must file CPA‑verified documents after a noncompliance finding and before paying. The Health Commissioner then reduces the payment.

NYC casino taxes split to MTA, schools

For licensed NYC gaming sites, after racing‑support payments, remaining state gaming‑tax deposits are split. 80% counts toward the education hold‑harmless amount. 20% goes to a state fund that pays the MTA each month without appropriation until the education amount is met. After that amount is met, new deposits go straight to the MTA. Once direct MTA payments equal the education hold‑harmless total, any extra is split 50% to the MTA and 50% to the state education gaming fund. This part takes effect immediately and ends one year after enactment.

City service taxes extended to 2029

New York City keeps a 4.5% tax on certain personal and facility‑use services through November 30, 2029. Localities can also keep taxing receipts from credit rating, reporting, and collection services through November 30, 2029. Several NYC tax‑imposition laws are extended through December 31, 2029, so their rules keep applying until then.

NYC 14% income tax add‑on stays

An extra NYC tax equal to 14% of your calculated city income tax continues for tax years that begin before 2030. A city may, by local law passed by July 31 of the tax year, set a lower rate or vary rates by filing status and income, and must send a certified copy to the State within 15 days. In practice, this applies to New York City.

NYC business minimum tax stays to 2029

The fixed‑dollar minimum under the NYC business corporation tax remains in effect for tax years that begin on or before December 31, 2029. Corporations keep using the current minimum‑tax table and computations for those years.

More time to dispute 2026 market value

If your covered property got a surcharge notice, you may file for a market‑value review for the year that starts July 1, 2026. You can file from the notice date through the last day to file for the July 1, 2027 review. The tax commission reviews 2026 filings the same way and on the same dates as 2027 filings.

Sponsors & Cosponsors

Sponsor

Carl Heastie
Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 158 • No: 41

Senate vote • 6/4/2026

FLOOR Vote

Yes: 58 • No: 2

House vote • 6/4/2026

Assembly floor vote

Yes: 100 • No: 39

Actions Timeline

SIGNED CHAP.127
6/5/2026House
DELIVERED TO GOVERNOR
6/5/2026House
RETURNED TO ASSEMBLY
6/4/2026Senate
PASSED SENATE
6/4/2026Senate
3RD READING CAL.1788
6/4/2026Senate
SUBSTITUTED FOR S10644
6/4/2026Senate
REFERRED TO RULES
6/4/2026Senate
DELIVERED TO SENATE
6/4/2026House
PASSED ASSEMBLY
6/4/2026House
ORDERED TO THIRD READING RULES CAL.469
6/3/2026House
RULES REPORT CAL.469
6/3/2026House
REPORTED
6/3/2026House
REPORTED REFERRED TO RULES
6/3/2026House
REFERRED TO WAYS AND MEANS
6/1/2026House

Bill Text

Original
6/2/2026
PDF

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