NY State Senate Bill 2021-S9281A

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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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Aug 31, 2022	print number 9281a
Aug 31, 2022	amend and recommit to budget and revenue
May 12, 2022	referred to budget and revenue

Bill Amendments

Original

A (Active)

2021-S9281 - Details

Current Committee:: Senate Budget And Revenue
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L

2021-S9281 - Summary

Amends the calculation and eligibility of the Empire state child credit.

2021-S9281 - Sponsor Memo

                                 
BILL NUMBER: S9281

SPONSOR: SERINO
 
TITLE OF BILL:

An act to amend the tax law, in relation to the Empire state child cred-
it

 
PURPOSE:

To increase the Empire State Child Tax Credit.

 
SUMMARY OF PROVISIONS:

Section 1: Amends paragraph 1 of subsection (c-1) of section 606 of the
tax law to repeal language that decoupled the Empire State Child Tax
Credit from increases to the Federal child tax credit resulting from the
Tax Cuts and Jobs Act of 2017

Section 2: Provides the effective date.

JUSTIFICATION:

A recent survey by McKinsey & Company and Marshall Plan for Moms found
that approximately half of mothers of young children who left the work
force did so, at least in part, due to child care availability or
expenses. Furthermore, of the more than 1,000 workers that participated
in this survey, more than 80% of both women and men with children under
5 years of age and younger indicated that child care benefits would "be
a very important or somewhat important factor in deciding whether to
stay at their current employer or switch employers."

Parents' access to affordable, quality child care has been a longstand-
ing issue, however the COVID-19 pandemic exacerbated the issue tremen-
dously and left many day care centers struggling to keep their doors
open-all at a time when many schools were closed and parents were even
more desperate for child care options to enable them to work. With more
than half of Americans living in a child care desert, and only 6% of
hourly workers surveyed having access to emergency back-up care, the
need for bolstering child care in New York State is all the more urgent.

This legislation is part of a package of bills meant to bolster child
care affordability in New York State by repealing language that
prevented the Empire State Child Tax Credit, which is equal to a
percentage of the Federal child tax credit, from increasing along with
the Federal child tax credit that resulted from the Tax Cuts and Jobs
Act of 2017.

By ensuring New York parents are better able to afford reliable, quality
child care, we can not only empower parents to return to, or remain in,
the work force, but provide a critical investment into our future gener-
ations of New Yorkers.

 
LEGISLATIVE HISTORY:

New bill.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to taxable years
commencing on or after January 1, 2018.

2021-S9281 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9281
 
                             I N  S E N A T E
 
                               May 12, 2022
                                ___________
 
 Introduced  by  Sen.  SERINO -- 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 the Empire state child cred-
   it
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Paragraph 1 of subsection (c-1) of section 606 of the tax
 law, as amended by section 1 of part P of chapter  59  of  the  laws  of
 2018, is amended to read as follows:
   (1)  A  resident taxpayer shall be allowed a credit as provided herein
 equal to the greater of one hundred dollars times the number of qualify-
 ing children of the taxpayer or the applicable percentage of  the  child
 tax  credit allowed the taxpayer under section twenty-four of the inter-
 nal revenue code for the same taxable year for  each  qualifying  child.
 Provided,  however,  in  the  case  of a taxpayer whose federal adjusted
 gross income exceeds  the  applicable  threshold  amount  set  forth  by
 section  24(b)(2) of the Internal Revenue Code, the credit shall only be
 equal to the applicable percentage of the child tax credit  allowed  the
 taxpayer under section 24 of the Internal Revenue Code for each qualify-
 ing child. For the purposes of this subsection, a qualifying child shall
 be  a  child  who  meets the definition of qualified child under section
 24(c) of the internal revenue code and is at least four  years  of  age.
 The  applicable  percentage shall be thirty-three percent. [For purposes
 of this subsection, any reference to section 24 of the Internal  Revenue
 Code  shall  be  a  reference  to such section as it existed immediately
 prior to the enactment of Public Law 115-97.]
   § 2. This act shall take effect immediately and shall apply to taxable
 years commencing on or after January 1, 2018.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15855-01-2

2021-S9281A (ACTIVE) - Details

Current Committee:: Senate Budget And Revenue
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L

2021-S9281A (ACTIVE) - Summary

Amends the calculation and eligibility of the Empire state child credit.

2021-S9281A (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S9281A

SPONSOR: SERINO
 
TITLE OF BILL:

An act to amend the tax law, in relation to the Empire state child cred-
it

 
PURPOSE:

To increase the Empire State Child Tax Credit.

 
SUMMARY OF PROVISIONS:

Section 1: Amends paragraph 1 of subsection (c-1) of section 606 of the
tax law to repeal language that decoupled the Empire State Child Tax
Credit from increases to the Federal child tax credit resulting from the
Tax Cuts and Jobs Act of 2017

Section 2: Provides the effective date.

JUSTIFICATION:

A recent survey by McKinsey & Company and Marshall Plan for Moms found
that approximately half of mothers of young children who left the work
force did so, at least in part, due to child care availability or
expenses. Furthermore, of the more than 1,000 workers that participated
in this survey, more than 80% of both women and men with children under
5 years of age and younger indicated that child care benefits would "be
a very important or somewhat important factor in deciding whether to
stay at their current employer or switch employers."

Parents' access to affordable, quality child care has been a longstand-
ing issue, however the COVID-19 pandemic exacerbated the issue tremen-
dously and left many day care centers struggling to keep their doors
open-all at a time when many schools were closed and parents were even
more desperate for child care options to enable them to work. With more
than half of Americans living in a child care desert, and only 6% of
hourly workers surveyed having access to emergency back-up care, the
need for bolstering child care in New York State is all the more urgent.

This legislation is part of a package of bills meant to bolster child
care affordability in New York State by repealing language that
prevented the Empire State Child Tax Credit, which is equal to a
percentage of the Federal child tax credit, from increasing along with
the Federal child tax credit that resulted from the Tax Cuts and Jobs
Act of 2017.

By ensuring New York parents are better able to afford reliable, quality
child care, we can not only empower parents to return to, or remain in,
the work force, but provide a critical investment into our future gener-
ations of New Yorkers.

 
LEGISLATIVE HISTORY:

New bill.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to taxable years
commencing on or after January 1, 2018.

2021-S9281A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9281--A
 
                             I N  S E N A T E
 
                               May 12, 2022
                                ___________
 
 Introduced  by  Sen.  SERINO -- read twice and ordered printed, and when
   printed to be committed to the Committee  on  Budget  and  Revenue  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee
 
 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:
 
   Section  1.  Paragraph 1 of subsection (c-1) of section 606 of the tax
 law, as amended by section 1 of part P of chapter  59  of  the  laws  of
 2018, is amended to read as follows:
   (1)  A  resident taxpayer shall be allowed a credit as provided herein
 equal to the greater of one hundred dollars times the number of qualify-
 ing children of the taxpayer or the applicable percentage of  the  child
 tax  credit allowed the taxpayer under section twenty-four of the inter-
 nal revenue code for the same taxable year for  each  qualifying  child.
 Provided,  however,  in  the  case  of a taxpayer whose federal adjusted
 gross income exceeds  the  applicable  threshold  amount  set  forth  by
 section  24(b)(2) of the Internal Revenue Code, the credit shall only be
 equal to the applicable percentage of the child tax credit  allowed  the
 taxpayer under section 24 of the Internal Revenue Code for each qualify-
 ing child. For the purposes of this subsection, a qualifying child shall
 be  a  child  who  meets the definition of qualified child under section
 24(c) of the internal revenue code [and is at least four years of  age].
 The  applicable  percentage shall be thirty-three percent. [For purposes
 of this subsection, any reference to section 24 of the Internal  Revenue
 Code  shall  be  a  reference  to such section as it existed immediately
 prior to the enactment of Public Law 115-97.]
   § 2. This act shall take effect immediately and shall apply to taxable
 years commencing on or after January 1, 2018.
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15855-02-2

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Senate Bill S9281A

Sponsored By

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

Actions

Bill Amendments

2021-S9281 - Details

2021-S9281 - Summary

2021-S9281 - Sponsor Memo

2021-S9281 - Bill Text download pdf

2021-S9281A (ACTIVE) - Details

2021-S9281A (ACTIVE) - Summary

2021-S9281A (ACTIVE) - Sponsor Memo

2021-S9281A (ACTIVE) - Bill Text download pdf

Comments

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Senate Bill S9281A

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Sponsored By

Susan Serino

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

Actions

Bill Amendments

2021-S9281 - Details

2021-S9281 - Summary

2021-S9281 - Sponsor Memo

2021-S9281 - Bill Text download pdf

2021-S9281A (ACTIVE) - Details

2021-S9281A (ACTIVE) - Summary

2021-S9281A (ACTIVE) - Sponsor Memo

2021-S9281A (ACTIVE) - Bill Text download pdf

Comments