Bill > S03305

This bill extends the existing homeowner tax rebate credit, which currently applies to tax year 2022, to now cover tax year 2025 and every subsequent tax year thereafter. The bill amends a section of the New York tax law to update the language, specifically changing the reference from "tax year two thousand twenty-two" to "tax year two thousand twenty-five and thereafter". This means that eligible individual taxpayers who meet the specified standards will continue to be able to claim a tax credit against their taxes for owning a home, with the credit now guaranteed for tax year 2025 and all future tax years. The bill takes effect immediately upon passage, ensuring that homeowners can benefit from this tax credit in the upcoming and future tax years without interruption.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S3305