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Bill

S 7306

Provides that taxpayers in the city of New York with certain lower income levels shall not be subject to city personal income taxation

2025 Regular Session Introduced by Cordell Cleare

Proposes a city personal income tax exemption for defined low-income NYC residents, cutting their tax burden and reshaping city revenue and tax administration.

REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
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WeVote Research Nonpartisan
Bill Summary · S 7306

Legislative Summary: S 7306

Overview

S 7306 proposes to exempt certain lower-income taxpayers in the City of New York from city personal income taxation. The bill was introduced on April 9, 2025 and is currently referred to Investigations and Government Operations. The primary sponsor is Cordell Cleare. Related bills from prior sessions (S 615, S 851, S 8119, S 1205, S 5088) suggest a historical interest in expanding tax relief or refund mechanisms at the city level.

Purpose and Intent

  • Create targeted tax relief for low-income NYC residents by removing city personal income tax liability for those meeting specified criteria.
  • Aim to reduce the tax burden on the city’s lowest-income residents, potentially improving equity and disposable income.
  • The bill would specify eligibility criteria and administration details within the bill text, including who qualifies (individuals and/or households), income thresholds, residency rules, and filing considerations.

Key Provisions (as indicated by the bill’s description)

  • Establishment of an exemption from city personal income tax for a defined group of lower-income New York City taxpayers.
  • Mechanisms for determining eligibility (income level, filing status, residency requirements) to be set forth in the bill.
  • Administrative procedures for administering the exemption (potential interactions with the city’s income tax code, filing requirements, and enforcement).
  • It is not specified in the summary whether the exemption is permanent, temporary, or subject to annual appropriation or revision.

Who Is Affected

  • Primary: Taxpayers residing in New York City whose income falls within the bill’s lower-income thresholds.
  • Secondary: City budget and revenue, city tax administration, employers and payroll systems (to the extent they interact with payroll withholding and reporting).
  • Tax practitioners and residents seeking to understand eligibility and filing implications.

Financial and Budgetary Implications

  • Potential loss of city personal income tax revenue for the group covered by the exemption.
  • Fiscal impact would depend on the defined income thresholds and the size of the eligible population.
  • Implementing the exemption may require administrative costs and potential offset mechanisms or adjustments to the city’s tax and budgetary planning.

Procedural History and Status

  • Introduced: April 9, 2025.
  • Current status: Referred to Investigations and Government Operations (as of the provided actions).
  • Legislative actions show two identical referral entries on the same date, indicating initial committee placement.

Related Legislation

  • S 615, S 851, S 8119, S 1205, S 5088 (prior-session bills) – indicate precedent proposals addressing income tax relief or related tax policy changes in prior sessions.

Next Steps and Timeline

  • If advanced, the bill would move through committee hearings and potential amendments, then to floor consideration in the Senate.
  • Following legislative passage, the bill would require approval by the other house (if applicable) and the governor’s signature to become law.
  • Timelines depend on committee activity, budget cycles, and negotiations.

Notes for Readers

  • The summary reflects the bill’s stated purpose and the limited details available. The exact eligibility criteria, implementation timeline, and fiscal impact would be defined in the bill’s text and any amendments.

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

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