|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 03, 2018||referred to ways and means|
|Jan 17, 2017||referred to ways and means|
assembly Bill A2018
Archive: Last Bill Status - In Assembly Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
A2018 (ACTIVE) - Details
A2018 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2018 2017-2018 Regular Sessions I N A S S E M B L Y January 17, 2017 ___________ Introduced by M. of A. SCHIMMINGER, BENEDETTO, CRESPO, GANTT, LAVINE, CAHILL, WEPRIN, AUBRY -- Multi-Sponsored by -- M. of A. BRAUNSTEIN, COLTON, GLICK, GOTTFRIED, HIKIND, PERRY, THIELE -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to increasing the earned income tax 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 (d) of section 606 of the tax law, as amended by section 1 of part Q of chapter 63 of the laws of 2000, is amended to read as follows: (1) General. A taxpayer shall be allowed a credit as provided herein equal to (i) the applicable percentage of the earned income credit allowed under section thirty-two of the internal revenue code for the same taxable year, (ii) reduced by the credit permitted under subsection (b) of this section. The applicable percentage shall be (i) seven and one-half percent for taxable years beginning in nineteen hundred ninety-four, (ii) ten percent for taxable years beginning in nineteen hundred ninety-five, (iii) twenty percent for taxable years beginning after nineteen hundred ninety-five and before two thousand, (iv) twenty-two and one-half percent for taxable years beginning in two thousand, (v) twenty-five percent for taxable years beginning in two thousand one, (vi) twenty- seven and one-half percent for taxable years beginning in two thousand two, [and] (vii) thirty percent for taxable years beginning in two thou- sand three AND BEFORE TWO THOUSAND SEVENTEEN, (VIII) THIRTY-TWO AND ONE-HALF PERCENT FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND SEVENTEEN, AND (IX) THIRTY-FIVE PERCENT FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND EIGHTEEN and thereafter. Provided, however, that if the reversion event, as defined in this paragraph, occurs, the applicable percentage shall be twenty percent for taxable years ending on or after the date on which EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.
By contributing or voting you agree to the Terms of Participation and verify you are over 13.