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Bill

S 6866

Increases the excelsior research and development tax credit

2025 Regular Session Introduced by Lea Webb

Raises the Excelsior R&D tax credit to spur more in-state innovation; expands credits for eligible businesses, affecting tax bills and state revenue.

REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
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Bill Summary · S 6866

Bill Summary: S 6866 — Increases the Excelsior Research and Development Tax Credit

Quick facts

  • Bill number: S 6866
  • Title: Increases the Excelsior Research and Development Tax Credit
  • Sponsor (primary): Lea Webb
  • Introduced: March 25, 2025
  • Status: Referred to Commerce, Economic Development and Small Business

  • Legislative actions to date:

    • 2025-03-25: Referred to Commerce, Economic Development and Small Business (listed twice in the record)

  • Related bills (prior-session): S 7178, S 5220, S 3944, S 5721

Purpose and intent

  • The bill intends to increase the Excelsior Research and Development (R&D) tax credit. The Excelsior credit is a state-level incentive designed to encourage R&D activity within the jurisdiction. This measure would expand or raise the value of that credit to support greater investment in innovation among eligible taxpayers.

Key provisions (availability of details)

  • The specific statutory changes (e.g., credit rate, eligibility criteria, cap, carryforward/recapture provisions, sunset date, refundable vs nonrefundable treatment, conformity with federal definitions, or administrative rulemaking) are not provided in the information available.
  • Readers should review the full bill text for exact amendments to the Excelsior R&D credit, including:
    • The new or revised credit percentage or calculation method
    • Eligible and ineligible R&D expenditures
    • Eligibility thresholds (e.g., size of business, location of R&D activities)
    • Interaction with existing tax credits or carryover provisions
    • Any sunset or renewal provisions

Who would be affected

  • Primarily businesses and taxpayers that claim the Excelsior R&D tax credit in the state.
  • Potential impact on state revenue and budgeting, due to changes in credit utilization.
  • Administrative agencies responsible for administering the credit and related tax compliance.

Procedural and timeline aspects

  • As of now, the bill has been referred to the Committee on Commerce, Economic Development and Small Business. This indicates it will undergo committee review, potential hearings, and amendments before consideration on the floor.
  • No floor vote or enactment date is provided; the timeline will depend on committee action and subsequent legislative steps.

Additional context

  • Related bills from prior sessions (S 7178, S 5220, S 3944, S 5721) may reflect ongoing or evolving proposals related to the Excelsior R&D credit. Tracking these and any fiscal notes or analyses can provide insight into expected impacts.

How to track

  • Monitor committee agendas and bill text for S 6866 to see amendments, fiscal notes, and the exact statutory changes proposed.
  • Check for any companion or related bills (e.g., S 7178, S 5220, S 3944, S 5721) for broader context or overlapping provisions.

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

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