New York 2025 Session Status: Introduced

S2320 — Changes the amount of the exemption permitted for capital improvements to residential buildings

Last action — In Senate Committee

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced January 16, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

Increases the exemption for capital improvements to residential buildings to $200,000 starting in 2026.

This bill proposes to change the exemption limit for capital improvements on residential buildings to $200,000, effective if a local law is adopted on or after January 1, 2026. The full bill text is not available for further details.

What this means for you
  • Small Business: This may affect small businesses involved in residential improvements by increasing potential tax exemptions.

Summary

Changes the amount of the exemption permitted for capital improvements to residential buildings to $200,000 where a local law or resolution is adopted on or after January 1, 2026.

Bill Text

Action History

  1. PRINT NUMBER 2320A

  2. AMEND AND RECOMMIT TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

  3. REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

  4. REPORTED AND COMMITTED TO FINANCE

  5. REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 218 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (218)

218 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S2320 do?
Changes the amount of the exemption permitted for capital improvements to residential buildings to $200,000 where a local law or resolution is adopted on or after January 1, 2026.
Who sponsors S2320?
S2320 is sponsored by Patricia Fahy.
What is the current status of S2320?
This bill has been introduced in the Senate. Introduced January 16, 2025. It must pass committee before a floor vote.
Where can I track S2320?
Track S2320 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on S2320

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Last checked for changes 3 months ago · updated continuously

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