Assembly Bill A6850

2025-2026 Legislative Session

Increases the portion of real property taxes that a manufacturer may take as a business franchise or personal income tax credit

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

2025-A6850 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§210-B & 606, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: A10701
2019-2020: A4150
2021-2022: A5497
2023-2024: A5441

2025-A6850 (ACTIVE) - Summary

Increases from 20% to 100% the portion of real property taxes that a manufacturer may take as a business franchise or personal income tax credit.

2025-A6850 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6850
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 14, 2025
                                ___________
 
 Introduced  by  M.  of  A.  PALMESANO,  BARCLAY,  BLANKENBUSH, BRABENEC,
   HAWLEY, MORINELLO, REILLY, TAGUE -- read  once  and  referred  to  the
   Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to increasing the amount of the
   business  franchise  and personal income tax credits for real property
   taxes paid by qualified manufacturers
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 43 of section 210-B of the tax
 law, as added by section 17 of part A of chapter 59 of the laws of 2014,
 is amended to read as follows:
   (a) A qualified New York manufacturer, as defined in subparagraph (vi)
 of  paragraph  (a) of subdivision one of section two hundred ten of this
 article, will be allowed a credit equal to [twenty] ONE HUNDRED  percent
 of  the real property tax it paid during the taxable year for real prop-
 erty owned by such manufacturer in New York which was  principally  used
 during  the taxable year for manufacturing to the extent not deducted in
 determining  entire net income. This credit will not be allowed  if  the
 real  property  taxes that are the basis for this credit are included in
 the calculation of another credit claimed by the taxpayer.
   § 2. Paragraph 1 of subsection (xx) of section 606 of the tax law,  as
 amended  by  section  8  of part I of chapter 59 of the laws of 2015, is
 amended to read as follows:
   (1) A qualified New York manufacturer will be allowed a  credit  equal
 to  [twenty] ONE HUNDRED percent of the real property tax it paid during
 the taxable year for real property owned by  such  manufacturer  in  New
 York  which was principally used during the taxable year for manufactur-
 ing to the extent not deducted in  computing  New  York  adjusted  gross
 income.  This credit will not be allowed if the real property taxes that
 are the basis for this credit are included in the calculation of another
 credit claimed by the taxpayer.
   § 3. This act shall take effect immediately and shall apply to taxable
 years commencing on or after January 1, 2025.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.