Vote: Committee vote · Budget And Revenue
Senate Budget And RevenueMay 28, 2025Result: passed
(6) (1) (0) (0)
Sponsor · State Senator, District 26 · Democratic
Senate bill · S1674 (2025-26)
Creates a tax credit for employers who help reduce higher education loans of their employees
Latest action Jan 7, 2026
Summary
Creates a tax credit for employers who help reduce higher education loans of their employees
Your position on this bill
Not chosen yet
Where it stands
Out of committee and scheduled for a vote by the full chamber.
- Introduced
- In committee
- Up for a vote
- Passed one chamber
- Passed
- Enacted
New York State Senate
Amends the Tax Law.
Committee
Budget And Revenue · New York State Senate
Purpose, from the sponsor's memo
This bill would create a tax credit for employers who assist their employees in paying back their governmental education loans that they received during their time as a student.
Filed with the bill. Read it on nysenate.gov (opens in a new tab)
Recorded votes
Cosponsors
The sponsor's argument
Why Andrew Gounardes says this is needed
Higher education loans put financial strain, mental, and physical stress on those who carry them. This bill provides an incentive for employers to help relieve some of their employee's financial burdens while receiv- ing tax benefits for doing so. This legislation would also open up the job market for those who have higher education loans because they will have an incentive to work for potential companies and organizations that would be willing to pay their loans. Employers could use this as both a recruitment and retention strategy for skilled employees.
This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.
Full history
- Jan 7, 2026
Referred to committee
REFERRED TO BUDGET AND REVENUE
NY Senate
- May 28, 2025
Reported out of committee
REPORTED AND COMMITTED TO FINANCE
NY Senate
- Jan 13, 2025
Referred to committee
REFERRED TO BUDGET AND REVENUE
NY Senate
About this record
- Summary
The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
- Cosponsors
The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
- Party colors
Parties are shown in the same neutral colors.
- Source
From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 31, 2026. About our data
Read the record
- Read on NY Senate (opens in a new tab) The official record on nysenate.gov.