Assembly Bill A7823

2019-2020 Legislative Session

Establishes a tax credit for Gold Star children

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2019-A7823 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2021-2022: A2596
2023-2024: A2014

2019-A7823 (ACTIVE) - Summary

Establishes a tax credit for Gold Star children in the amount of $1,500.

2019-A7823 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7823
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 23, 2019
                                ___________
 
 Introduced  by  M. of A. FALL -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the tax law, in relation to establishing  a  tax  credit
   for Gold Star 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 (uuu) to read as follows:
   (UUU)  GOLD STAR CHILD FEE CREDIT. (1) ALLOWANCE AND AMOUNT OF CREDIT.
 A TAXPAYER WHO IS EIGHTEEN YEARS OF AGE OR BELOW MAY CLAIM A TAX  CREDIT
 AGAINST  THE  TAX  IMPOSED BY THIS ARTICLE IN THE AMOUNT OF ONE THOUSAND
 FIVE HUNDRED DOLLARS. SUCH TAXPAYER SHALL BE THE CHILD OF  A  MEMBER  OF
 THE  ARMED FORCES OF THE UNITED STATES HAVING DIED IN THE PERFORMANCE OF
 DUTY IN TIME OF WAR.   IN NO EVENT SHALL THE  CREDIT  PROVIDED  IN  THIS
 SUBSECTION BE ALLOWED IN EXCESS OF THE TAXPAYER'S TAX FOR SUCH YEAR.
   (2)  APPLICATION  OF  CREDIT. IF THE AMOUNT OF THE CREDIT SHALL EXCEED
 THE TAXPAYER'S TAX FOR SUCH YEAR THE EXCESS SHALL BE CARRIED OVER TO THE
 FOLLOWING YEAR OR YEARS, AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR
 SUCH YEAR OR YEARS.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2021.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11468-01-9

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