STATE OF NEW YORK
________________________________________________________________________
7823
2019-2020 Regular Sessions
IN ASSEMBLY
May 23, 2019
___________
Introduced by M. of A. FALL -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the tax law, in relation to establishing a tax credit
for Gold Star children
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 606 of the tax law is amended by adding a new
2 subsection (uuu) to read as follows:
3 (uuu) Gold star child fee credit. (1) Allowance and amount of credit.
4 A taxpayer who is eighteen years of age or below may claim a tax credit
5 against the tax imposed by this article in the amount of one thousand
6 five hundred dollars. Such taxpayer shall be the child of a member of
7 the armed forces of the United States having died in the performance of
8 duty in time of war. In no event shall the credit provided in this
9 subsection be allowed in excess of the taxpayer's tax for such year.
10 (2) Application of credit. If the amount of the credit shall exceed
11 the taxpayer's tax for such year the excess shall be carried over to the
12 following year or years, and may be deducted from the taxpayer's tax for
13 such year or years.
14 § 2. This act shall take effect immediately and shall apply to taxable
15 years beginning on or after January 1, 2021.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11468-01-9
