senate Bill S7382

2017-2018 Legislative Session

Relates to providing a tax credit for the adoption of special needs children

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Rules Committee


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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 20, 2018 committed to rules
May 22, 2018 advanced to third reading
May 16, 2018 2nd report cal.
May 15, 2018 1st report cal.1236
Mar 06, 2018 reported and committed to finance
Jan 11, 2018 referred to investigations and government operations

Votes

view votes

May 15, 2018 - Finance committee Vote

S7382
37
0
committee
37
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Finance committee vote details

Mar 6, 2018 - Investigations and Government Operations committee Vote

S7382
9
0
committee
9
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Investigations and Government Operations committee vote details

Investigations and Government Operations Committee Vote: Mar 6, 2018

S7382 - Details

See Assembly Version of this Bill:
A10545
Current Committee:
Senate Rules
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2019-2020 Legislative Session:
A1318

S7382 - Summary

Establishes that a resident taxpayer shall be allowed a credit against the tax in an amount equaling thirty percent of the qualified adoption expenses paid during the taxable year in conjunction with the taxpayer's adoption of a handicapped child or a hard to place child or five thousand dollars whichever is less.

S7382 - Sponsor Memo

S7382 - Bill Text download pdf


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

                                  7382

                            I N  S E N A T E

                            January 11, 2018
                               ___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation to allowing a  tax  credit  for
  the adoption of special needs children

  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 (iii) to read as follows:
  (III)  ADOPTION  OF  SPECIAL NEEDS CHILDREN TAX CREDIT. (1) A RESIDENT
TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED BY THIS ARTI-
CLE IN AN AMOUNT EQUALING  THIRTY  PERCENT  OF  THE  QUALIFIED  ADOPTION
EXPENSES PAID DURING THE TAXABLE YEAR IN CONJUNCTION WITH THE TAXPAYER'S
ADOPTION  OF  A HANDICAPPED CHILD OR A HARD TO PLACE CHILD OR FIVE THOU-
SAND DOLLARS, WHICHEVER IS LESS. IF THE AMOUNT OF THE  CREDIT  ALLOWABLE
UNDER  THIS  SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S
TAX FOR SUCH YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF  TAX
TO  BE CREDITED OR REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF SECTION
SIX HUNDRED EIGHTY-SIX OF  THIS  ARTICLE,  PROVIDED,  HOWEVER,  THAT  NO
INTEREST SHALL BE PAID THEREON.
  (2)  THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (A) "HAND-
ICAPPED CHILD" AND "HARD TO PLACE CHILD" SHALL HAVE THE SAME MEANING  AS
IN  SECTION  FOUR  HUNDRED  FIFTY-ONE OF THE SOCIAL SERVICES LAW AND THE
REGULATIONS PROMULGATED THEREUNDER.
  (B) "QUALIFIED ADOPTION EXPENSES" SHALL MEAN THE REASONABLE AND NECES-
SARY ADOPTION FEES, COURT COSTS, ATTORNEYS'  FEES,  AND  OTHER  EXPENSES
THAT  ARE  DIRECTLY RELATED TO THE LEGAL ADOPTION OF A HANDICAPPED CHILD
OR HARD TO PLACE CHILD BY THE TAXPAYER FOR WHICH THE  TAXPAYER  HAS  NOT
RECEIVED A SUBSIDY, REIMBURSEMENT OR FEDERAL TAX CREDIT UNDER THE INTER-
NAL  REVENUE  CODE, PROVIDED, HOWEVER, THAT SUCH COSTS SHALL NOT INCLUDE
ANY COSTS ASSOCIATED WITH LITIGATION.
  § 2. This act shall take effect immediately and shall apply to taxable
years beginning on and after January 1, 2018.

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

Comments

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.