Assembly Bill A8709

2025-2026 Legislative Session

Provides a personal income tax exemption for certain professional athletes residing in New York state

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Current Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2025-A8709 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §612, Tax L

2025-A8709 (ACTIVE) - Summary

Provides a personal income tax exemption for certain professional athletes residing in New York state of up to two hundred fifty thousand dollars of income.

2025-A8709 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8709
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 2, 2025
                                ___________
 
 Introduced by M. of A. JENSEN -- read once and referred to the Committee
   on Ways and Means
 
 AN  ACT to amend the tax law, in relation to providing a personal income
   tax exemption for certain professional athletes residing in  New  York
   state
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. This act shall be known and may be cited  as  "The  Profes-
 sional Athletes' Local Monetary Tax Relief and Exemption Enactment (PALM
 TREE) Act".
   §  2. Section 612 of the tax law is amended by adding a new subsection
 (z) to read as follows:
   (Z)  INCOME  EXEMPTION  FOR  CERTAIN  PROFESSIONAL  ATHLETES.  1.  FOR
 PURPOSES OF THIS SUBSECTION:
   (I) "QUALIFYING PROFESSIONAL ATHLETE" SHALL MEAN AN INDIVIDUAL WHO:
   (A) IS A NATURAL PERSON DOMICILED IN THE STATE OF NEW YORK.
   (B) HAS A CURRENT, VALID, AND ENFORCEABLE WRITTEN PLAYER CONTRACT WITH
 A QUALIFIED SPORTS FRANCHISE.
   (C)  MAINTAINS  THEIR  PRIMARY  PLACE OF RESIDENCE IN THE STATE OF NEW
 YORK FOR AT LEAST ONE HUNDRED EIGHTY-THREE DAYS DURING THE TAXABLE YEAR.
   (II) "QUALIFIED SPORTS FRANCHISE" SHALL  MEAN  A  PROFESSIONAL  SPORTS
 TEAM OR FRANCHISE:
   (A) BASED IN THE STATE OF NEW YORK.
   (B) PLAYS ITS HOME GAMES AT A FACILITY LOCATED WITHIN THE STATE OF NEW
 YORK.
   (C) WHICH COMPETES IN:
   (1) MAJOR LEAGUE BASEBALL (MLB).
   (2) NATIONAL FOOTBALL LEAGUE (NFL).
   (3) NATIONAL BASKETBALL ASSOCIATION (NBA).
   (4) NATIONAL HOCKEY LEAGUE (NHL).
   (5) MAJOR LEAGUE SOCCER (MLS).
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13197-01-5

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