STATE OF NEW YORK
________________________________________________________________________
5323
2023-2024 Regular Sessions
IN SENATE
March 1, 2023
___________
Introduced by Sen. WEIK -- 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 providing an additional
child and dependent care tax credit
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subsection (c) of section 606 of the tax law is amended by
2 adding a new paragraph 1-c to read as follows:
3 (1-c) For taxable years beginning after two thousand twenty-three, in
4 addition to the credit calculated under paragraphs one and one-a of this
5 subsection, there shall be an additional credit equal to fifty percent
6 of the credit allowed under paragraphs one and one-a of this subsection.
7 However, the credit allowed under this subsection shall not exceed one
8 hundred percent of the credit allowable under section twenty-one of the
9 internal revenue code, without regard to whether the taxpayer in fact
10 claimed the credit under such section twenty-one for such taxable year.
11 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09269-01-3