•  Summary 
  •  
  •  Actions 
  •  
  •  Committee Votes 
  •  
  •  Floor Votes 
  •  
  •  Memo 
  •  
  •  Text 
  •  
  •  LFIN 
  •  
  •  Chamber Video/Transcript 

S05323 Summary:

BILL NOS05323
 
SAME ASNo Same As
 
SPONSORWEIK
 
COSPNSR
 
MLTSPNSR
 
Amd 606, Tax L
 
Provides an additional child and dependent care tax credit equal to fifty percent of the credit allowed currently by law.
Go to top

S05323 Text:



 
                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
Go to top