Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 24, 2014 |
print number 3509a |
Jan 24, 2014 |
amend and recommit to investigations and government operations |
Jan 08, 2014 |
referred to investigations and government operations |
Feb 05, 2013 |
referred to investigations and government operations |
Senate Bill S3509A
2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Bill Amendments
co-Sponsors
(R, C, IP, RFM) 24th Senate District
2013-S3509 - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
- Versions Introduced in 2011-2012 Legislative Session:
-
S5112
2013-S3509 - Sponsor Memo
BILL NUMBER:S3509 TITLE OF BILL: An act to amend the tax law, in relation to establishing a personal income tax credit for the adoption of a child PURPOSE: To establish a personal income tax credit of up to $2,500 for the expenses of legally adopting a child. SUMMARY OF PROVISIONS: Section 606 of the tax law is amended by adding a new subsection (t-2) to read as follows: A resident taxpayer shall be allowed a credit, not to exceed $2,500, against the tax imposed by this article for qualified adoption expenses for each child adopted. Qualified adoption expenses shall mean the expenses required for the legal adoption of a child by the taxpayer or the taxpayer's spouse. The credit under this subsection shall be allowed against the taxes imposed by this article for the taxa- ble year reduced by the credits permitted by this article. If the credit exceeds the tax as so reduced, the taxpayer may receive, and the comp- troller, subject to a certificate of the commissioner, shall pay as an overpayment, without interest, the amount of such excess. JUSTIFICATION: Federal law currently allows for an adoption tax credit to assist with expenses paid prior to the year the adoption becomes final. A taxpayer who paid qualifying expenses in the current year for an adoption which became final in the current year, may be eligible to
2013-S3509 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3509 2013-2014 Regular Sessions I N S E N A T E February 5, 2013 ___________ Introduced by Sen. BALL -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to establishing a personal income 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: Section 1. Section 606 of the tax law is amended by adding a new subsection (t-2) to read as follows: (T-2) ADOPTION CREDIT. (1) GENERAL. A RESIDENT TAXPAYER SHALL BE ALLOWED A CREDIT, NOT TO EXCEED TWO THOUSAND FIVE HUNDRED DOLLARS, AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR QUALIFIED ADOPTION EXPENSES FOR EACH CHILD ADOPTED. (2) QUALIFIED ADOPTION EXPENSES. FOR THE PURPOSES OF THIS SUBSECTION, THE TERM "QUALIFIED ADOPTION EXPENSES" SHALL MEAN THE EXPENSES REQUIRED FOR THE LEGAL ADOPTION OF A CHILD BY THE TAXPAYER OR THE TAXPAYER'S SPOUSE. (3) REFUNDABILITY. THE CREDIT UNDER THIS SUBSECTION SHALL BE ALLOWED AGAINST THE TAXES IMPOSED BY THIS ARTICLE FOR THE TAXABLE YEAR REDUCED BY THE CREDITS PERMITTED BY THIS ARTICLE. IF THE CREDIT EXCEEDS THE TAX AS SO REDUCED, THE TAXPAYER MAY RECEIVE, AND THE COMPTROLLER, SUBJECT TO A CERTIFICATE OF THE COMMISSIONER, SHALL PAY AS AN OVERPAYMENT, WITHOUT INTEREST, THE AMOUNT OF SUCH EXCESS. S 2. This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2013. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07296-01-3
co-Sponsors
(R, C, IP, RFM) 24th Senate District
2013-S3509A (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
- Versions Introduced in 2011-2012 Legislative Session:
-
S5112
2013-S3509A (ACTIVE) - Sponsor Memo
BILL NUMBER:S3509A TITLE OF BILL: An act to amend the tax law, in relation to establishing a personal income tax credit for the adoption of a child PURPOSE: To establish a personal income tax credit of up to $25,000 for the expenses of legally adopting a child. SUMMARY OF PROVISIONS: Section 606 of the tax law is amended by adding a new subsection (t-2) to read as follows: A resident taxpayer shall be allowed a credit, not to exceed $25,000, against the tax imposed by this article for qualified adoption expenses for each child adopted. Qualified adoption expenses shall mean the expenses required for the legal adoption of a child by the taxpayer or the taxpayer's spouse. The credit under this subsection shall be allowed against the taxes imposed by this article for the taxable year reduced by the credits permitted by this article. If the credit exceeds the tax as so reduced, the taxpayer may receive, and the comptroller, subject to a certificate of the commissioner, shall pay as an overpayment, without interest, the amount of such excess. JUSTIFICATION:
2013-S3509A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3509--A 2013-2014 Regular Sessions I N S E N A T E February 5, 2013 ___________ Introduced by Sens. BALL, LANZA -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations -- recommitted to the Committee on Investi- gations 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 establishing a personal income 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: Section 1. Section 606 of the tax law is amended by adding a new subsection (t-2) to read as follows: (T-2) ADOPTION CREDIT. (1) GENERAL. A RESIDENT TAXPAYER SHALL BE ALLOWED A CREDIT, NOT TO EXCEED TWENTY-FIVE THOUSAND DOLLARS, AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR QUALIFIED ADOPTION EXPENSES FOR EACH CHILD ADOPTED. (2) QUALIFIED ADOPTION EXPENSES. FOR THE PURPOSES OF THIS SUBSECTION, THE TERM "QUALIFIED ADOPTION EXPENSES" SHALL MEAN THE EXPENSES REQUIRED FOR THE LEGAL ADOPTION OF A CHILD BY THE TAXPAYER OR THE TAXPAYER'S SPOUSE. (3) REFUNDABILITY. THE CREDIT UNDER THIS SUBSECTION SHALL BE ALLOWED AGAINST THE TAXES IMPOSED BY THIS ARTICLE FOR THE TAXABLE YEAR REDUCED BY THE CREDITS PERMITTED BY THIS ARTICLE. IF THE CREDIT EXCEEDS THE TAX AS SO REDUCED, THE TAXPAYER MAY RECEIVE, AND THE COMPTROLLER, SUBJECT TO A CERTIFICATE OF THE COMMISSIONER, SHALL PAY AS AN OVERPAYMENT, WITHOUT INTEREST, THE AMOUNT OF SUCH EXCESS. S 2. This act shall take effect immediately and shall apply to taxable years beginning on or after January 1, 2014. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07296-02-4
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