S T A T E O F N E W Y O R K
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8219
2015-2016 Regular Sessions
I N A S S E M B L Y
June 11, 2015
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Introduced by M. of A. NOLAN, BRENNAN, BRONSON, FAHY, LIFTON -- read
once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to the empire state child cred-
it and the family tax relief credit
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 L-1 of chapter 109 of the laws of
2006, 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 TAXABLE
YEARS BEGINNING AFTER TWO THOUSAND FIFTEEN, THE APPLICABLE PERCENTAGE
SHALL BE SIXTY PERCENT.
S 2. Paragraphs 1 and 2 of subsection (vv) of section 606 of the tax
law, paragraph 1 as added by section 1 of part CC of chapter 59 of the
laws of 2013 and paragraph 2 as amended by section 1 of part M of chap-
ter 59 of the laws of 2014, are amended to read as follows:
1. (A) An individual taxpayer who meets the eligibility standards in
paragraph two of this subsection shall be allowed a credit against the
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11590-03-5
A. 8219 2
taxes imposed by this article of three hundred fifty dollars per return
for tax years two thousand fourteen, two thousand fifteen, and two thou-
sand sixteen.
(B) AN INDIVIDUAL TAXPAYER WHO MEETS THE ELIGIBILITY STANDARDS IN
SUBPARAGRAPH (B) OF PARAGRAPH TWO OF THIS SUBSECTION SHALL BE ALLOWED A
CREDIT AGAINST THE TAXES IMPOSED BY THIS ARTICLE OF THREE HUNDRED FIFTY
DOLLARS PER RETURN FOR TAXABLE YEARS BEGINNING AFTER TWO THOUSAND
SIXTEEN.
2. (A) To be eligible for the credit, the taxpayer (or taxpayers
filing joint returns) on the personal income tax return filed for the
taxable year, must [(a)] (I) be a resident, [(b)] (II) claim one or more
dependent children who were under the age of seventeen on the last day
of the taxable year, [(c)] (III) have New York adjusted gross income of
at least forty thousand dollars but no greater than three hundred thou-
sand dollars, and [(d)] (IV) have a tax liability as determined under
paragraph three of this subsection of greater than or equal to zero.
(B) TO BE ELIGIBLE FOR THE CREDIT PURSUANT TO SUBPARAGRAPH (B) OF
PARAGRAPH ONE OF THIS SUBSECTION, THE TAXPAYER (OR TAXPAYERS FILING
JOINT RETURNS) ON THE PERSONAL INCOME TAX RETURN FILED FOR THE TAXABLE
YEAR, MUST (I) BE A RESIDENT, (II) CLAIM ONE OR MORE DEPENDANT CHILDREN
WHO WERE UNDER THE AGE OF SEVENTEEN ON THE LAST DAY OF THE TAXABLE YEAR,
(III) HAVE NEW YORK ADJUSTED GROSS INCOME OF AT LEAST FORTY THOUSAND
DOLLARS BUT NO GREATER THAN ONE HUNDRED AND THIRTY THOUSAND DOLLARS, AND
(IV) HAVE A TAX LIABILITY AS DETERMINED UNDER PARAGRAPH THREE OF THIS
SUBSECTION OF GREATER THAN OR EQUAL TO ZERO.
S 3. This act shall take effect immediately.