Establishes a supplemental household and dependent care credit payment for taxpayers who are eligible for certain household and dependent care services necessary for gainful employment.
STATE OF NEW YORK
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2314
2025-2026 Regular Sessions
IN ASSEMBLY
January 16, 2025
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Introduced by M. of A. RA, JENSEN, GANDOLFO, MAHER, SLATER, BENDETT,
BLANKENBUSH, MANKTELOW, SMULLEN, ANGELINO, MILLER, CHANG, LEMONDES,
McDONOUGH, BRABENEC, TANNOUSIS, MORINELLO, DeSTEFANO, TAGUE, SIMPSON,
PALMESANO, DiPIETRO, PIROZZOLO, WALSH -- read once and referred to the
Committee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a supplemental
household and dependent care credit payment
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) Notwithstanding anything in this subsection to the contrary, for
4 tax years beginning on or after January first, two thousand twenty-six,
5 the commissioner shall issue a payment of a supplemental household and
6 dependent care services credit to taxpayers eligible for a credit under
7 this subsection. The amount of the supplemental payment shall be equal
8 to fifteen percent of the taxpayer's actual credit amount allowed pursu-
9 ant to paragraph one of this subsection. If the amount of credit allow-
10 able under this subsection for any taxable year shall exceed the taxpay-
11 er's tax for such year, the excess shall be treated as an overpayment of
12 tax to be credited or refunded in accordance with the provisions of
13 section six hundred eighty-six of this article, provided, however, that
14 no interest shall be paid thereon.
15 § 2. This act shall take effect immediately and shall apply to taxable
16 years commencing on and after January 1, 2026.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02844-01-5
