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A01522 Summary:

BILL NOA01522
 
SAME ASNo Same As
 
SPONSORWoerner (MS)
 
COSPNSRD'Urso, Gunther, Galef, Sayegh, Arroyo, DeStefano, Walsh, Ra, Brabenec, Miller B
 
MLTSPNSRCrouch, Davila, Hyndman, Palmesano, Palumbo, Thiele
 
Amd §606, Tax L
 
Amends the definition of qualifying child for purposes of the empire state child credit to eliminate the requirement that such child be at least four years of age.
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A01522 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A1522
 
SPONSOR: Woerner (MS)
  TITLE OF BILL: An act to amend the tax law, in relation to the empire state child cred- it   PURPOSE: To allow resident taxpayers to receive the Empire State Child Credit for children under four years of age.   SUMMARY OF PROVISIONS: Section 1 amends paragraph 1 of subsection (c-1) of section 606 of the tax law, as amended by section 1 of part L-1 of chapter 109 of the laws of 2006 to allow a resident taxpayer the greater of either one hundred dollars times the number of qualifying children or the applicable percentage of the child tax credit allowed the taxpayer under section twenty-four of the internal revenue code for the same taxable year for each qualifying child. A qualifying child is a child who meets the defi- nition of a qualified child under section 24() of the internal revenue code. The applicable percentage shall be thirty-three percent. Section 2 states the date on which this legislation shall take effect and states that this legislation will apply to taxable years beginning on or after January 1, 2017.   JUSTIFICATION: More than 75% of New York families who are eligible for child care subsidies (that is, families at less than 200% of the poverty level) do not receive subsidies because of inadequate funding. In contrast, the Empire State Child Credit is available to families making as little as $3,000 a year, and low-income families receive the largest credit. However, the Empire State Child Credit is not applicable for children under the age of 4. This bill removes the limitation and extends the tax credit to all children.   LEGISLATIVE HISTORY: New bill.   FISCAL IMPLICATIONS:   EFFECTIVE DATE: This bill will become effective on the ninetieth day after it shall have become a law.
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A01522 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1522
 
                               2019-2020 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 15, 2019
                                       ___________
 
        Introduced by M. of A. WOERNER -- Multi-Sponsored by -- M. of A. CROUCH,
          DAVILA,  D'URSO,  GALEF,  GUNTHER,  HYNDMAN,  PALMESANO,  PALUMBO, RA,
          THIELE -- read once and referred to the Committee on Ways and Means
 
        AN ACT to amend the tax law, in relation to the empire state child cred-
          it

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Paragraph 1 of subsection (c-1) of section 606 of the tax
     2  law, as amended by section 1 of part P of chapter  59  of  the  laws  of
     3  2018, is amended to read as follows:
     4    (1)  A  resident taxpayer shall be allowed a credit as provided herein
     5  equal to the greater of one hundred dollars times the number of qualify-
     6  ing children of the taxpayer or the applicable percentage of  the  child
     7  tax  credit allowed the taxpayer under section twenty-four of the inter-
     8  nal revenue code for the same taxable year for  each  qualifying  child.
     9  Provided,  however,  in  the  case  of a taxpayer whose federal adjusted
    10  gross income exceeds  the  applicable  threshold  amount  set  forth  by
    11  section  24(b)(2) of the Internal Revenue Code, the credit shall only be
    12  equal to the applicable percentage of the child tax credit  allowed  the
    13  taxpayer under section 24 of the Internal Revenue Code for each qualify-
    14  ing child. For the purposes of this subsection, a qualifying child shall
    15  be  a  child  who  meets the definition of qualified child under section
    16  24(c) of the internal revenue code [and is at least four years of  age].
    17  The applicable percentage shall be thirty-three percent. For purposes of
    18  this  subsection,  any  reference  to section 24 of the Internal Revenue
    19  Code shall be a reference to such  section  as  it  existed  immediately
    20  prior to the enactment of Public Law 115-97.
    21    §  2.  This  act shall take effect on the ninetieth day after it shall
    22  have become a law and shall apply to taxable years beginning on or after
    23  January 1, 2019.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01214-01-9
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