Senate Bill S5470

2021-2022 Legislative Session

Establishes the New York state foreign dependent children tax inclusion act

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Budget And Revenue 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

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2021-S5470 (ACTIVE) - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §§614 & 616, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: S7622
2013-2014: S3201
2015-2016: S2785
2017-2018: S2703
2019-2020: S5004
2023-2024: S7188

2021-S5470 (ACTIVE) - Summary

Establishes the New York state foreign dependent children tax inclusion act authorizing a tax deduction for support provided to children outside of the United States; defines "dependent children"; provides an exemption of $1,000 for each foreign dependent child.

2021-S5470 (ACTIVE) - Sponsor Memo

2021-S5470 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5470
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               March 8, 2021
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, in relation to establishing  the  New  York
   state foreign dependent children tax inclusion act
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Short title.  This act shall be known and may be  cited  as
 the "New York state foreign dependent children tax inclusion act".
   § 2. Subsection (c) of section 614 of the tax law, as amended by chap-
 ter 170 of the laws of 1994, is amended to read as follows:
   (c)  Head of household. (1) For taxable years beginning after nineteen
 hundred ninety-six, the New York standard deduction of an individual who
 is a head of household shall be ten thousand five hundred  dollars;  for
 taxable  years  beginning  in nineteen hundred ninety-six, such standard
 deduction shall be ten thousand dollars; for taxable years beginning  in
 nineteen  hundred  ninety-five,  such  standard deduction shall be eight
 thousand one hundred fifty dollars;  and  for  taxable  years  beginning
 after  nineteen  hundred eighty-nine and before nineteen hundred ninety-
 five, such standard deduction shall be seven thousand dollars.
   (2) (A) FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND TWENTY-TWO,  AN
 INDIVIDUAL  PROVIDING  SUPPORT TO A DEPENDENT CHILD OR CHILDREN RESIDING
 OUTSIDE OF THE UNITED STATES SHALL  BE  DEEMED  HEAD  OF  HOUSEHOLD  FOR
 PURPOSES OF THIS SUBSECTION WHERE THE INDIVIDUAL PROVIDES PROOF OF:
   (I)  THE  LEGAL  RELATIONSHIP  BETWEEN  THE  INDIVIDUAL AND HIS OR HER
 DEPENDENT CHILD OR CHILDREN; AND
   (II) THE AMOUNT  OF  MONEY  WHICH  THE  DEPENDENT  CHILD  OR  CHILDREN
 RECEIVED FROM THE INDIVIDUAL.
   (B)  SUPPORT  PROVIDED  TO CHILDREN OUTSIDE OF THE UNITED STATES MEANS
 MONEY OR OTHER FINANCIAL SUPPORT WHICH IS SENT  OR  TRANSFERRED  OUTSIDE
 THE UNITED STATES TO A DEPENDENT CHILD OF THE INDIVIDUAL.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09404-01-1
              

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