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Senate and Assembly One-House Revenue Bills

The following provides an overview of how the Senate and Assembly have responded, to date, to the Executive Budget business tax reform proposal, with an emphasis on “Part A” of their revenue bills which includes the bulk of business tax reform language. The page/line references are for the respective one-house revenue bills – S.6359-C in the Senate and A.8559-C in the Assembly. Please go to our Tax Committee web page for access to these legislative proposals; our summary of the overall Executive Budget, and its tax reform components, is available here.

These issues are under active negotiation in Albany, and it is expected that a final budget agreement will be reached and passed by April 1. Feel free to contact me with any comments or questions, or for updates.

Ken Pokalsky
Vice President, Government Affairs
The Business Council of New York State, Inc.
T 518.465.7511 x 205

Top issues:

SENATE “PART A” CHANGES – The Senate made the following changes to the Executive Budget's business tax proposals (the Administration's proposal is S.6359-B/A.8559-B, Part A. The following changes are found in S.6359-C.)

ADDITIONAL SENATE BUSINESS-RELATED TAX REFORMS – These proposals, and others, were included in the Senate one-house revenue bill, above and beyond the tax reforms proposed in the Executive Budget. The Senate's overall budget review, including its revenue bill changes, is available here.

ASSEMBLY “PART A” CHANGES– The Assembly made the following changes to the Executive Budget's business tax proposals (the Administration's proposal is S.6359-B/A.8559-B, Part A. The following changes are found in A.8559-C.)

TFNY telecommunications excise tax credit (proposed in Part T of this bill, as well as in the Executive Budget); and deletes the Executive Budget's proposed real property tax credit for manufacturers (p.108, l. 29).