S 3009Enacts into law major components of legislation which are necessary to implement the state fiscal plan for the 2025-2026 state fiscal year

Latest change summary

+54344 / −39370 words · LargeConfidence: high

This amendment to S 3009 (the state fiscal plan implementation bill) makes a series of technical updates and adds two new tax credit provisions. The bill was renumbered to S 3009-A/A 3009-A following discharge from committee, amendment, and recommittal. The changes include clerical corrections to preamble references (updating document identifiers and completing citations to prior legislation), the addition of Part Z extending the electric vehicle recharging property credit for three years, and the addition of Part AA extending a sales tax exemption for vending machine sales. Two substantive provisions adjust program definitions: one excludes certain mortgage-backed loans from the definition of 'covered entity' funding when such mortgages are of a type available to the general public, and another reassigns qualified surviving spouses and single filers to different income threshold brackets for a tax credit phase-out, moving both groups from their prior thresholds to a $75,000 threshold.