assembly Bill A3702

2019-2020 Legislative Session

Increases the amount of the earned income tax credit

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Sponsored By

Current Bill Status - In Assembly Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 30, 2019 referred to ways and means

Co-Sponsors

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Multi-Sponsors

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A3702 (ACTIVE) - Details

Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A9542
2013-2014: A4280
2015-2016: A4340
2017-2018: A2018

A3702 (ACTIVE) - Summary

Increases the amount of the earned income tax credit.

A3702 (ACTIVE) - Bill Text download pdf


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

                                  3702

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                            January 30, 2019
                               ___________

Introduced  by  M.  of A. SCHIMMINGER, BENEDETTO, CRESPO, GANTT, LAVINE,
  CAHILL, WEPRIN, AUBRY -- Multi-Sponsored by -- M.  of  A.  BRAUNSTEIN,
  COLTON,  GLICK,  GOTTFRIED, 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 NINETEEN, (VIII) THIRTY-TWO AND  ONE-
HALF  PERCENT  FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND NINETEEN, AND
(IX) THIRTY-FIVE PERCENT FOR TAXABLE YEARS  BEGINNING  IN  TWO  THOUSAND
TWENTY  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.

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