New York, NY —

REPORTER: City Council Speaker Christine Quinn says New York renters need a break. The Manhattan democrat is expected to lay out the council's budget priorities during today's state of the city speech. Included is a proposal that would give about 1.1 million renters a $300 tax credit.

QUINN: What that means is that if you owe the state money you will owe them $300 less. If you don't owe the state money and you're getting a refund you're getting money back you're getting $300 more.

REPORTER: The tax credit would be aimed at renters with modest incomes. A single person making $43,000 or less per year would qualify. A bill would have to be passed by the state legislature. Quinn says there's been positive feedback from Albany.