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Bill

S 5259

Exempts veterans eighty-five years of age and older from the obligation to pay New York state income tax

2025 Regular Session Introduced by Jake Ashby

Exempts New York veterans aged 85 and older from paying state income tax.

REFERRED TO BUDGET AND REVENUE
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WeVote Research Nonpartisan
Bill Summary · S 5259

Summary of Bill S 5259 – Exempts veterans eighty-five years of age and older from the obligation to pay New York state income tax

Basic information

  • Bill number: S 5259
  • Title: Exempts veterans eighty-five years of age and older from the obligation to pay New York state income tax
  • Status: Referred to Budget and Revenue
  • Introduced: February 20, 2025
  • Primary sponsor: Jake Ashby
  • Classification: bill
  • Related bills: A 3770, A 332, A 1302, A 10098, A 1565, A 1941, S 5995, S 4872 (prior sessions); Companion: A 2343 (two entries listed)

What the bill would do

  • Create a state income tax exemption for a specific group of individuals: veterans who are 85 years of age or older.
  • The exemption would relieve these eligible veterans from the obligation to pay New York state income tax.
  • The description implies the exemption would apply to the New York state income tax base; the bill’s text would determine whether the exemption covers all income types subject to state tax or only portions of income, and any interaction with other tax credits or exemptions (not specified in the provided information).

Who would be affected

  • Primary beneficiaries: New York residents who are veterans and are aged 85 or older.
  • Additional considerations (to be clarified in the bill text): eligibility verification (veteran status, age proof), residency requirements, and any documentation needed to claim the exemption.

Key provisions and implementation considerations (as indicated)

  • The core provision is the age-based exemption from New York state income tax for qualifying veterans.
  • The bill’s text would specify administrative details such as:
    • How eligibility is documented and verified.
    • Effective date and any applies-to-tax-year rules.
    • Interactions with other tax exemptions, credits, or reductions.
  • Given the status as “Referred to Budget and Revenue,” the bill is at an early stage and would be examined for fiscal impact and revenue implications by the committee.

Fiscal and policy implications

  • The exemption would reduce state tax revenues by the amount of tax that would have been paid by eligible veterans, subject to the rate schedule and any limitations in the final language.
  • The Department of Taxation and Finance would typically assess the budgetary impact and administrative costs associated with implementing the exemption.
  • Budget and Revenue committee action is common for tax-related measures, signaling consideration of both policy goals and fiscal effects.

Procedural timeline and next steps

  • Currently in committee; subsequent steps would include committee hearings, potential amendments, floor votes in the Senate, and passage to the Assembly for consideration.
  • If enacted, an effective date would be specified in the final bill text (not provided here).

This summary captures the bill’s stated purpose, scope, and the procedural status as of the information provided. For a complete understanding, the full bill text and fiscal notes would be needed.

Compiled from official sources — confirm details with the bill’s official record.

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