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Assembly Bill A1522

2019-2020 Legislative Session

Relates to the empire state child credit

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Archive: Last Bill Status - In Assembly Committee

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2019-A1522 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2017-2018 Legislative Session:
A5296

2019-A1522 (ACTIVE) - Summary

Amends the definition of qualifying child for purposes of the empire state child credit to eliminate the requirement that such child be at least four years of age.

2019-A1522 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1522
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 15, 2019
                                ___________
 
 Introduced by M. of A. WOERNER -- Multi-Sponsored by -- M. of A. CROUCH,
   DAVILA,  D'URSO,  GALEF,  GUNTHER,  HYNDMAN,  PALMESANO,  PALUMBO, RA,
   THIELE -- 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

   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 P of chapter  59  of  the  laws  of
 2018, 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 purposes of
 this  subsection,  any  reference  to section 24 of the Internal Revenue
 Code shall be a reference to such  section  as  it  existed  immediately
 prior to the enactment of Public Law 115-97.
   §  2.  This  act shall take effect on the ninetieth day after it shall
 have become a law and shall apply to taxable years beginning on or after
 January 1, 2019.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01214-01-9

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