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Assembly Bill A3345

2011-2012 Legislative Session

Grants a tax credit to day care providers

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Archive: Last Bill Status - In Assembly Committee

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2011-A3345 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Add ยง606-a, Tax L
Versions Introduced in 2009-2010 Legislative Session:
A3592

2011-A3345 (ACTIVE) - Summary

Grants a tax credit to day care providers; allows a qualified taxpayer a tax credit towards income derived from business attributable to services provided by a registered family day care program; defines "qualified taxpayer" and "home day care services".

2011-A3345 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  3345

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 24, 2011
                               ___________

Introduced  by  M. of A. CLARK, JACOBS -- Multi-Sponsored by -- M. of A.
  BRENNAN, GALEF, SWEENEY, TOWNS  --  read  once  and  referred  to  the
  Committee on Ways and Means

AN ACT to amend the tax law, in relation to granting a tax credit to day
  care providers

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  The tax law is amended by adding a new  section  606-a  to
read as follows:
  S  606-A.  CREDIT  FOR  CERTAIN  DAY  CARE  SERVICE PROVIDERS. (A) FOR
PURPOSES OF THIS SUBSECTION:
  (1) "QUALIFIED TAXPAYER" MEANS A PROVIDER OF DAY CARE LICENSED  BY  OR
REGISTERED  WITH THE OFFICE OF CHILDREN AND FAMILY SERVICES, PURSUANT TO
SECTION THREE HUNDRED NINETY OF THE SOCIAL SERVICES LAW,  TO  OPERATE  A
GROUP FAMILY DAY CARE PROGRAM OR FAMILY DAY CARE HOME.
  (2) "HOME DAY CARE SERVICES" MEANS SERVICES PROVIDED BY A GROUP FAMILY
DAY CARE PROGRAM OR FAMILY DAY CARE HOME LICENSED OR REGISTERED PURSUANT
TO SECTION THREE HUNDRED NINETY OF THE SOCIAL SERVICES LAW.
  (B)  A QUALIFIED TAXPAYER SHALL BE ALLOWED A CREDIT, TO BE COMPUTED AS
HEREINAFTER PROVIDED, AGAINST THE TAX IMPOSED BY SUBSECTIONS (A) THROUGH
(D) OF SECTION SIX HUNDRED ONE OF THIS ARTICLE. THE AMOUNT OF THE CREDIT
SHALL BE THE LESSER OF FIVE HUNDRED DOLLARS OR THE  AMOUNT  OF  THE  TAX
IMPOSED BY SECTION SIX HUNDRED ONE OF THIS ARTICLE FOR THE TAXABLE YEAR,
REDUCED  BY  THE CREDITS PERMITTED UNDER SECTIONS SIX HUNDRED TWENTY AND
SIX HUNDRED TWENTY-ONE OF THIS ARTICLE, MULTIPLIED BY  A  FRACTION.  THE
FRACTION  IS  COMPUTED  AS  FOLLOWS: THE NUMERATOR IS NET INCOME DERIVED
FROM BUSINESS ATTRIBUTABLE TO THE PROVISION OF HOME  DAY  CARE  SERVICES
(OR  ZERO  IF  SUCH  INCOME IS NEGATIVE) AND THE DENOMINATOR IS NEW YORK
ADJUSTED GROSS INCOME.
  S 2. This act shall take effect on the first of January next  succeed-
ing the date on which it shall have become a law.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06561-01-1

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