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Bill

A 8723

Provides a legacy credit to the children and siblings of veterans who were killed in the line of duty

2025 Regular Session Introduced by Stacey Pheffer Amato

Creates a legacy credit for children and siblings of veterans killed in the line of duty, offering tax relief to families left behind by service members.

REFERRED TO GOVERNMENTAL EMPLOYEES
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Bill Summary · A 8723

Summary: Assembly Bill A 8723

A 8723, introduced June 2, 2025, and sponsored by Assembly member Stacey Pheffer Amato (primary), seeks to provide a “legacy credit” to certain relatives of veterans who were killed in the line of duty. The bill is currently in the Governmental Employees committee.

What the bill would do

  • Create a legacy credit aimed at benefiting the children and siblings of veterans who were killed in the line of duty. The title indicates the program is a tax-like credit intended to support families left behind by service-related loss.

Key provisions (as filed)

  • The specific operational details (credit amount, eligibility criteria, duration, and how claimants would apply) are not provided in the summary information available. The text that would define:
    • Eligible recipients (e.g., which children and which siblings, any age or residency requirements)
    • Credit amount and whether it is refundable or nonrefundable
    • HOW the credit would be claimed (tax return, separate application, etc.)
    • Any caps, phaseouts, or indexing to inflation
    • Interaction with other state credits or benefits
    • Administrative responsibilities and oversight
    • Sunset or renewal provisions are not included in the provided materials.

Beneficiaries and impact

  • Eligible beneficiaries would be the children and siblings of veterans who were killed while on active duty or in the line of duty.
  • Potential fiscal impact on state revenues and administration would depend on the final credit parameters, including size, eligibility limits, and duration.
  • A new credit could affect state tax behavior, budget planning, and administrative workload for the agency responsible for tax credits (not specified in the available materials).

Legislative status and timeline

  • Introduced: June 2, 2025
  • Legislative action: Referred to the Governmental Employees committee on June 2, 2025 (listed twice in the actions, likely a duplication in the record)
  • Status: In committee; no further action details are provided here.

Related legislation

  • Companion bill: S 8424 (listed as a Senate companion; two entries noted)
  • The existence of a companion bill suggests parallel consideration in the Senate, which may inform timing and potential amendments.

Next steps for readers

  • To understand the full scope, read the bill’s actual text and any fiscal notes on the official New York State Legislature website.
  • Review the companion Senate bill (S 8424) for additional details or differences.
  • Monitor subsequent committee actions and floor votes for updates on eligibility, amounts, and implementation timelines.

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

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