Assembly Bill A5399

2011-2012 Legislative Session

Provides earned income tax credit to youth workers, increases standard deduction for individuals 18 to 24, and provides for deduction of student loan interest

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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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2011-A5399 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยงยง606, 614 & 615, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4875
2013-2014: A2617
2015-2016: A7891
2017-2018: A2108
2019-2020: A1055
2021-2022: A1080
2023-2024: A477

2011-A5399 (ACTIVE) - Summary

Provides an earned income tax credit to youth workers, increases the standard deduction for individuals eighteen to twenty-four years of age, and provides for the deduction of student loan interest, and provides for the expiration of such provisions.

2011-A5399 (ACTIVE) - Bill Text download pdf

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

                                  5399

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 18, 2011
                               ___________

Introduced by M. of A. BRONSON, SCHROEDER -- Multi-Sponsored by -- M. of
  A.  BOYLAND  --  read  once  and referred to the Committee on Ways and
  Means

AN ACT to amend the tax law, in relation to providing an  earned  income
  tax  credit  to  youth  workers, increasing the standard deduction and
  providing for the deduction of student loan  interest;  and  providing
  for the repeal of such provisions upon expiration thereof

  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 (d-2) to read as follows:
  (D-2)  EARNED  INCOME  TAX  CREDIT  FOR  YOUTH WORKERS. (1) A TAXPAYER
DESCRIBED IN PARAGRAPH TWO OF THIS SUBSECTION SHALL BE ALLOWED A  CREDIT
EQUAL  TO  THE  PRODUCT  OF  ONE  AND THREE-TENTHS AND THE AMOUNT OF THE
EARNED INCOME TAX CREDIT THAT WOULD HAVE BEEN ALLOWED  TO  THE  TAXPAYER
UNDER  SECTION  32  OF  THE  INTERNAL  REVENUE CODE, IF THE TAXPAYER HAD
ATTAINED THE MINIMUM AGE OF ELIGIBILITY FOR SUCH EARNED INCOME TAX CRED-
IT SET FORTH IN SECTION  32(C)(1)(A)(II)(II)  OF  THE  INTERNAL  REVENUE
CODE.
  (2)  TO  BE  ALLOWED  A  CREDIT UNDER THIS SUBSECTION, A TAXPAYER MUST
SATISFY ALL OF THE FOLLOWING QUALIFICATIONS:
  (A) THE TAXPAYER MUST BE A RESIDENT TAXPAYER WHO IS NOT CLAIMED  AS  A
DEPENDENT OF ANOTHER TAXPAYER.
  (B)  THE TAXPAYER MUST HAVE ATTAINED THE AGE OF SEVENTEEN AND MUST NOT
HAVE ATTAINED THE MINIMUM AGE AT WHICH A TAXPAYER IS QUALIFIED  FOR  THE
EARNED   INCOME  TAX  CREDIT  AS  SUCH  AGE  IS  SET  FORTH  IN  SECTION
32(C)(1)(A)(II)(II) OF THE INTERNAL REVENUE CODE.
  (C) THE TAXPAYER MUST NOT BE THE CUSTODIAL OR NON-CUSTODIAL PARENT  OF
A MINOR CHILD OR CHILDREN.
  (3) NOTHING IN THIS SECTION SHALL BE DEEMED TO PROHIBIT THE QUALIFICA-
TIONS  OF A TAXPAYER WHO IS OTHERWISE ELIGIBLE FOR THE EARNED INCOME TAX

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07917-01-1
              

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