senate Bill S3508

2017-2018 Legislative Session

Relates to increasing the earned income tax credit in the city of New York from five to fifteen percent

download bill text pdf

Sponsored By

Current Bill Status - In Senate Cities Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 03, 2018 referred to cities
Jan 23, 2017 referred to cities

S3508 - Details

Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-1706, NYC Ad Cd; amd §1310, Tax L
Versions Introduced in 2015-2016 Legislative Session:
S8207

S3508 - Summary

Increases the earned income tax credit in the city of New York from five to fifteen percent.

S3508 - Sponsor Memo

S3508 - Bill Text download pdf

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

                                  3508

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                            January 23, 2017
                               ___________

Introduced  by  Sen. SERRANO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Cities

AN ACT to amend the administrative code of the city of New York and  the
  tax law, in relation to 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 subdivision (d) of section  11-1706  of  the
administrative  code  of  the  city  of  New York, as added by local law
number 39 of the city of New York for the year 2004, is amended to  read
as follows:
  (1)  For  taxable  years  beginning after two thousand three, a credit
against the city personal income tax shall be  allowed,  equal  to  five
percent  of the earned income credit allowed under section thirty-two of
the internal revenue code for the same taxable  year;  AND  FOR  TAXABLE
YEARS  BEGINNING  AFTER TWO THOUSAND EIGHTEEN, A CREDIT AGAINST THE CITY
PERSONAL INCOME TAX SHALL BE ALLOWED, EQUAL TO FIFTEEN  PERCENT  OF  THE
EARNED  INCOME  CREDIT  ALLOWED UNDER SECTION THIRTY-TWO OF THE INTERNAL
REVENUE CODE FOR THE SAME TAXABLE YEAR.
  S 2. Paragraph 1 of subsection (f) of section 1310 of the tax law,  as
added  by  section  2  of  part  V of chapter 60 of the laws of 2004, is
amended to read as follows:
  (1) Notwithstanding any other provision of law to  the  contrary,  any
city  having  a  population  of  one million or more, acting through its
local legislative body, is hereby authorized and empowered to adopt  and
amend  local laws granting in any such city, for taxable years beginning
after two thousand three, a credit against the city personal income  tax
equal  to five percent of the earned income credit allowed under section
thirty-two of the internal revenue code for the same taxable  year;  AND
FOR  TAXABLE  YEARS  BEGINNING  AFTER  TWO  THOUSAND  EIGHTEEN, A CREDIT
AGAINST THE CITY PERSONAL INCOME TAX SHALL BE ALLOWED, EQUAL TO  FIFTEEN

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08022-02-7

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