Bill > S01479

This bill establishes a home heating tax credit for New York state taxpayers to help offset home heating costs, with specific provisions for single and married filers. Qualified taxpayers are defined as state residents who own or rent their primary residence and are responsible for paying their own heat, and who are not already eligible for home energy assistance programs. Single filers with incomes of $125,000 or less can receive a $300 tax credit, while married couples filing jointly with incomes of $250,000 or less can receive a $600 credit. The bill includes a unique feature where the tax credit will be proactively advanced by the state commissioner, who will determine eligibility using tax return information from two years prior and aim to issue payments by October 31st each year. If a taxpayer believes they did not receive the correct advance payment, they can request a review. The tax credit is temporary, applying only to the 2024 tax year and set to expire on December 31, 2025, providing temporary financial relief for home heating expenses.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S1479