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A08809 Summary:

Amd Various Laws, generally
Enacts into law major components of legislation which are necessary to implement the state fiscal plan for the 2024-2025 state fiscal year; extends the itemized deduction limit on individuals with income over ten million dollars (Part A); extends certain provisions of the tax law relating to certain transactions and related information and relating to the voluntary compliance initiative (Part B); makes technical corrections to the metropolitan commuter transportation mobility tax (Part C); relates to the restriction upon issuing notices for a tax year that is the subject of a pending petition filed with the division of tax appeals (Part D); creates the commercial security tax credit program (Part E); extends the effectiveness of certain provisions establishing standards for electronic tax administration (Part F); repeals provisions relating to the expiration of the segregated sales tax account (Part G); relates to the filing of amended tax returns (Part H); relates to exempting certain tangible personal property and services from sales and use tax (Part I); extends the sales tax exemption for certain sales made through vending machines (Part J); provides for regulation of short-term residential rentals of private dwellings in certain municipalities (Part K); relates to the tax imposed on certain adult-use cannabis products (Part L); relates to the utilization of funds in the Catskill off-track betting corporation's capital acquisition fund and the Capital region off-track betting corporation's capital acquisition funds (Part O); extends the authorization for simulcasting of certain racing through the end of June, 2025 (Part P); extends requirements related to the New York Jockey Injury Compensation Fund, Inc. (Part Q); establishes a Cornell racehorse safety program (Part R); relates to the corporate franchise tax rate (Part S); increases the personal income tax rate for certain income levels (Part T); establishes phase out rates for the earned income tax credit (Part U); relates to earned income tax credit eligibility requirements (Part V); relates to the supplemental child tax credit (Part W); adjusts the homeowner tax rebate credit for STAR recipients (Part X); exempts certain fire extinguishers, fire alarms and carbon monoxide alarms from sales and compensating use taxes when purchased for retail use during the month of October (Part Y); exempts basic school supplies from sales tax during the 15 day period prior to Labor Day (Part Z); relates to creating an exemption from the tax on retail sales for oral care products (Part AA); establishes sales tax exemptions for residential and commercial energy storage systems equipment (Part BB); creates a work opportunity tax credit (Part CC).
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