Senate BillIntroduced
S 6866: Increases the excelsior research and development tax credit maximum from six to twenty percent.
What S 6866 does, verified January 8, 2026
The bill aims to increase the Excelsior Research and Development Tax Credit in New York State. The credit will be equal to 50% of the participant's federal research and development tax credit for non-green projects, and up to 20% for green projects. For green or green chips projects, the credit will be limited to 8% of research and development expenditures. The federal research and development credit structure and definition will still apply if it has expired. The bill also allows research and development expenditures in the state to be used as the basis for the credit and the Qualified Emerging Technology Company Facilities, Operations, and Training Credit. The changes will take effect immediately.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS (2026-01-07)Alert me
Quick answers about S 6866
- What is the current status of S 6866?
- As of January 8, 2026, S 6866 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS".
- Did S 6866 pass?
- Not yet. S 6866 has been introduced and has not passed either house.
- Who wrote S 6866, and where is it now?
- S 6866 was authored by Sen. Lea Webb. Its committee of record is Senate Commerce, Economic Development & Small Business.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions2 total · showing 2
| Jan. 07, 2026 | REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS |
| Mar. 25, 2025 | REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS |
Latest bill textIntroduced version, March 25, 2025 · 408 words
STATE OF NEW YORK ________________________________________________________________________ 6866 2025-2026 Regular Sessions IN SENATE March 25, 2025 ___________ Introduced by Sen. WEBB -- read twice and ordered printed, and when printed to be committed to the Committee on Commerce, Economic Devel- opment and Small Business AN ACT to amend the economic development law, in relation to increasing the excelsior research and development tax credit The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 3 of section 355 of the economic development 2 law, as amended by chapter 494 of the laws of 2022, is amended to read 3 as follows: 4 3. Excelsior research and development tax credit component. A partic- 5 ipant in the excelsior jobs program shall be eligible to claim a credit 6 equal to fifty percent of the portion of the participant's federal 7 research and development tax credit that relates to the participant's 8 research and development expenditures in New York state during the taxa- 9 ble year; provided however, if not a green project, the excelsior 10 research and development tax credit shall not exceed [six] twenty 11 percent of the qualified research and development expenditures attribut- 12 able to activities conducted in New York state, or, if a green project 13 or a Green CHIPS project[, the excelsior research and development tax14credit] shall not exceed eight percent of the research and development 15 expenditures attributable to activities conducted in New York state. If 16 the federal research and development credit has expired, then the 17 research and development expenditures relating to the federal research 18 and development credit shall be calculated as if the federal research 19 and development credit structure and definition in effect in two thou- 20 sand nine were still in effect. Notwithstanding any other provision of 21 this chapter to the contrary, research and development expenditures in 22 this state, including salary or wage expenses for jobs related to 23 research and development activities in this state, may be used as the 24 basis for the excelsior research and development tax credit component 25 and the qualified emerging technology company facilities, operations and 26 training credit under the tax law. 27 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD09412-01-5
Text of S 6866 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions