NY S 303
in committeeRelates to the excelsior research and development tax credit
New York · 2025-2026 Regular Session · upper
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Quick answers
Did NY S 303 pass?
Not yet. NY S 303 is in committee and has not come to a final vote. Latest recorded action (2026-01-07): REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
What is NY S 303 about?
Enacts the "empire innovation act"; provides that a participant in the excelsior jobs program shall be eligible to claim a credit equal to the portion of the full cost of the participant's research and development expenses incurred that relates to the participant's research and development expenditures in New York state during the taxable year; provided however, if the participant receives a federal research and development tax credit calculated on the full cost of the participant's research and development expenses that relates to the participant's research and development expenditures in New York state during the taxable year, then said participant shall only be eligible to claim a credit equal to fifty percent of the portion of the participant's federal research and development tax credit that relates to the participant's research and development expenditures in New York state during the taxable year.
Who sponsors NY S 303?
Steve Rhoads is the primary sponsor of NY S 303.
Description
Enacts the "empire innovation act"; provides that a participant in the excelsior jobs program shall be eligible to claim a credit equal to the portion of the full cost of the participant's research and development expenses incurred that relates to the participant's research and development expenditures in New York state during the taxable year; provided however, if the participant receives a federal research and development tax credit calculated on the full cost of the participant's research and development expenses that relates to the participant's research and development expenditures in New York state during the taxable year, then said participant shall only be eligible to claim a credit equal to fifty percent of the portion of the participant's federal research and development tax credit that relates to the participant's research and development expenditures in New York state during the taxable year.
- Introduced
- —
- Latest action
- 2026-01-07 — REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
- Bill type
- bill
- Last updated
- —
Sponsors
- Steve Rhoadsprimary
Committees
Not provided by source.
Action timeline
Newest first
2026-01-07
REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
referral-committee
2025-01-08
REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
referral-committee
Versions
- S303Compare
Documents
Votes
Not provided by source.
Related bills
- Prior session: S 7671not in this corpus
Official source
Attribution
Data from openstates_bulk_csv, retrieved 2026-07-24T05:28:30.722574Z
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