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Senate Bill S10661

2025-2026 Legislative Session

Restores conformity with certain provisions of the Internal Revenue Code relating to business expensing; repealer

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Current Bill Status - In Senate Committee Rules Committee

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2025-S10661 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Tax Law
Laws Affected:
Rpld §208 sub 9 ¶(a) sub¶¶ 24, 25 & 26, ¶(b) sub¶¶ 28 & 29, §612 sub§ (b) ¶¶44 & 45, sub§ (c) ¶¶48, 49 & 50, §1503 sub (b) ¶1 sub¶¶ (X), (Y) & (Z), ¶2 sub¶¶ (AA) & (BB), Tax L

2025-S10661 (ACTIVE) - Summary

Restores conformity with certain provisions of the Internal Revenue Code relating to business expensing.

2025-S10661 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10661
 
                             I N  S E N A T E
 
                               July 15, 2026
                                ___________
 
 Introduced  by  Sen.  COONEY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to repeal certain provisions of  the  tax  law,  in  relation  to
   restoring  conformity  with certain provisions of the Internal Revenue
   Code relating to business expensing
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraphs 24, 25 and 26 of paragraph (a) of subdivision
 9 of section 208 of the tax law are REPEALED.
   §  2.  Subparagraphs  28  and  29 of paragraph (b) of subdivision 9 of
 section 208 of the tax law are REPEALED.
   § 3. Paragraphs 44 and 45 of subsection (b) of section 612 of the  tax
 law are REPEALED.
   §  4. Paragraphs 48, 49 and 50 of subsection (c) of section 612 of the
 tax law, paragraph 48 as added by section 4 of part F of chapter  59  of
 the laws of 2026, are REPEALED.
   §  5. Subparagraphs (X), (Y) and (Z) of paragraph 1 of subdivision (b)
 of section 1503 of the tax law are REPEALED.
   § 6. Subparagraphs (AA) and (BB) of paragraph 2 of subdivision (b)  of
 section 1503 of the tax law are REPEALED.
   § 7. This act shall take effect immediately.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD16149-01-6

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