STATE OF NEW YORK
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1638--A
2011-2012 Regular Sessions
IN SENATE
January 10, 2011
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Introduced by Sen. SAMPSON -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations -- recommitted to the Committee on Investigations and
Government Operations in accordance with Senate Rule 6, sec. 8 --
committee discharged, bill amended, ordered reprinted as amended and
recommitted to said committee
AN ACT to amend the tax law, in relation to the establishment of a tax
credit for the adoption of a child
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 (t-2) to read as follows:
3 (t-2) Adoption credit. (1) General. A resident taxpayer shall be
4 allowed the option of claiming a credit, to be computed as provided in
5 paragraph three of this subsection, against the tax imposed by this
6 article for allowable adoption expenses for each child adopted.
7 (2) Allowable and qualified adoption expenses. For the purposes of
8 this credit, (A) the term "allowable adoption expenses" shall mean the
9 amount of qualified nonrecurring adoption expenses paid by the taxpayer
10 during the taxable year for each child adopted, limited to ten thousand
11 dollars, and (B) the term "qualified adoption expenses" shall mean the
12 expenses required for the legal adoption of a child by the taxpayer or
13 the taxpayer's spouse.
14 (3) Amount of credit. If allowable adoption expenses are less than
15 five thousand dollars, the amount of the credit provided under this
16 subsection shall be equal to the applicable percentage of the lesser of
17 allowable adoption expenses or two hundred dollars. If allowable
18 adoption expenses are five thousand dollars or more, the amount of the
19 credit provided under this subsection shall be equal to the applicable
20 percentage of the allowable adoption expenses multiplied by four
21 percent. Such applicable percentage shall be twenty-five percent for
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD05900-02-2
S. 1638--A 2
1 taxable years beginning in two thousand thirteen, fifty percent for
2 taxable years beginning in two thousand fourteen, seventy-five percent
3 for taxable years beginning in two thousand fifteen and one hundred
4 percent for taxable years beginning after two thousand sixteen.
5 (4) Refundability. The credit under this subsection shall be allowed
6 against the taxes imposed by this article for the taxable year reduced
7 by the credits permitted by this article. If the credit exceeds the tax
8 as so reduced, the taxpayer may receive, and the comptroller, subject to
9 a certificate of the commissioner, shall pay as an overpayment, without
10 interest, the amount of such excess.
11 § 2. This act shall take effect immediately and shall apply to taxable
12 years beginning on or after January 1, 2013.
