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New York · 2025 Regular Session · Bill

S 7643: Relates to the pass-through entity tax credit and the city pass-through entity tax credit

In committee Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

S 7643 is a bill introduced in the New York Senate on April 24, 2025. According to its official title, it concerns: Relates to the pass-through entity tax credit and the city pass-through entity tax credit. Primary sponsor: Andrew Gounardes (Democratic). Most recent recorded action (January 7, 2026): REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Provides that the aggregate amount of pass-through entity credits claimed by all partners, members or shareholders of an electing partnership or electing S corporation shall not exceed eighty-seven percent of the tax due.

Sponsors

Sponsors by party (alphabetical): Democratic 1

NameRolePartyChamberDistrict
Andrew GounardesPrimary sponsorDemocraticSenate26

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  2. REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Sources

  1. Open States / Plural (data from the official legislature website)
  2. Official legislature source