Loading chat...
NY S08157
Bill
Status
5/15/2025
Primary Sponsor
Jessica Ramos
Click for details
AI Summary
-
Eliminates the Health Care Reform Act (HCRA) taxes on April 1, 2026, including the 9.63% surcharge on hospital-based health services and the covered lives assessment on privately insured individuals
-
Creates a new 10.2% "public goods surcharge" on insurance corporations, business corporations, and pass-through entities to replace HCRA revenue, reduced to 5.4% for employers offering health benefits equivalent to at least a bronze-level Affordable Care Act plan
-
Exempts businesses with fewer than 50 employees from the new corporate surcharges
-
Establishes a tiered filing fee surcharge for LLCs and partnerships based on New York source gross income, ranging from $0 for entities with income under $1 million to $1.2 million for those with income over $1 billion
-
Sunsets the new surcharges on March 31, 2029, while maintaining funding for HCRA public goods programs including indigent care grants, medical malpractice subsidies, and physician training programs
Legislative Description
Enacts the "NYS health care tax reform act"; establishes a public goods and medicaid subsidy surcharge on insurance corporations; establishes a public goods and medicaid subsidy surcharge on business corporations; establishes a public goods and medicaid subsidy surcharge on pass-through entities; relates to filing fee surcharges; relates to revenues to be included in the health care reform act resources fund; establishes a public goods and medicaid surcharge on misclassified workers.
Last Action
PRINT NUMBER 8157A
3/9/2026