S 8921: Adds certain gains with respect to small business stock excluded pursuant to section 1202 of the Internal Revenue Code as an increase to adjusted gross income.
What S 8921 does, verified March 30, 2026
The bill aims to modify the tax law in New York to increase federal adjusted gross income. The bill adds a new subparagraph to the tax law to exclude a certain amount of gain from taxation, specifically the amount of the deduction allowable under section 1202 of the internal revenue code. This change applies to taxable years beginning on or after January 1, 2025. The bill affects three sections of the tax law: section 208, section 612, and section 1503. The changes are intended to increase federal adjusted gross income, but the exact impact is not specified in the summary.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: PRINT NUMBER 8921A (2026-02-10)Alert me
Quick answers about S 8921
- What is the current status of S 8921?
- As of March 30, 2026, S 8921 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on February 10, 2026, was "PRINT NUMBER 8921A".
- Did S 8921 pass?
- Not yet. S 8921 has been introduced and has not passed either house.
- Who wrote S 8921, and where is it now?
- S 8921 was authored by Sen. Andrew Gounardes with 1 coauthor. It is filed under TAX, alongside 323 other New York TAX bills this session.
Author and sponsors
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| Feb. 10, 2026 | PRINT NUMBER 8921A |
| Feb. 10, 2026 | AMEND (T) AND RECOMMIT TO BUDGET AND REVENUE |
| Jan. 15, 2026 | REFERRED TO BUDGET AND REVENUE |
Latest bill textIntroduced version, January 15, 2026 · 151 words
STATE OF NEW YORK ________________________________________________________________________ 8921 IN SENATE January 15, 2026 ___________ Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to modifications increasing federal adjusted gross income of a resident individual The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subsection (b) of section 612 of the tax law is amended by 2 adding a new paragraph 44 to read as follows: 3 (44) The amount of any gain excluded pursuant to section 1202 of the 4 Internal Revenue Code. 5 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD14477-02-6
Text of S 8921 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions