| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Feb 12, 2020 |
print number 4458a |
| Feb 12, 2020 |
amend and recommit to budget and revenue |
| Jan 08, 2020 |
referred to budget and revenue |
| Mar 12, 2019 |
referred to budget and revenue |
Senate Bill S4458A
2019-2020 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee
Actions
Bill Amendments
co-Sponsors
(D) Senate District
(D) Senate District
(D, WF) Senate District
2019-S4458 - Details
2019-S4458 - Sponsor Memo
BILL NUMBER: S4458
SPONSOR: RANZENHOFER
TITLE OF BILL: An act to amend the tax law, in relation to increasing
the child and dependent care tax credit
PURPOSE:
To increase the child and dependent care tax credit to reflect increases
in the cost of child and dependent care.
SUMMARY OF PROVISIONS:
Section 1 - amends paragraph (1-b) of subsection 0 of section 606 of the
Tax Law to increase the maximum amount of child and dependent care costs
that are subject to the child and dependent care tax credit commencing
with tax year 2020.
Section 2 - Effective date.
2019-S4458 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
4458
2019-2020 Regular Sessions
I N S E N A T E
March 12, 2019
___________
Introduced by Sens. RANZENHOFER, CARLUCCI, FELDER, KENNEDY -- read twice
and ordered printed, and when printed to be committed to the Committee
on Budget and Revenue
AN ACT to amend the tax law, in relation to increasing the child and
dependent care tax credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph (1-b) of subsection (c) of section 606 of the tax
law, as added by section 2 of part T of chapter 59 of the laws of 2017,
is amended to read as follows:
(1-b) Notwithstanding anything in this subsection to the contrary, a
taxpayer shall be allowed a credit as provided in this subsection equal
to the applicable percentage of the credit allowable under section twen-
ty-one of the internal revenue code for the same taxable year (without
regard to whether the taxpayer in fact claimed the credit under such
section twenty-one for such taxable year) that would have been allowed
absent the application of section 21(c) of such code [for taxpayers with
more than two qualifying individuals], provided however, that the credit
shall be calculated as if the dollar limit on amount creditable shall
not exceed:
(I) seven thousand five hundred dollars if there are three qualifying
individuals, eight thousand five hundred dollars if there are four qual-
ifying individuals, and nine thousand dollars if there are five or more
qualifying individuals FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND NINE-
TEEN; AND
(II) SIX THOUSAND DOLLARS IF THERE IS ONE QUALIFYING INDIVIDUAL,
TWELVE THOUSAND DOLLARS IF THERE ARE TWO QUALIFYING INDIVIDUALS, FIFTEEN
THOUSAND DOLLARS IF THERE ARE THREE QUALIFYING INDIVIDUALS, SEVENTEEN
THOUSAND DOLLARS IF THERE ARE FOUR QUALIFYING INDIVIDUALS, AND EIGHTEEN
THOUSAND DOLLARS IF THERE ARE FIVE OR MORE QUALIFYING INDIVIDUALS FOR
TAXABLE YEARS BEGINNING ON OR AFTER TWO THOUSAND TWENTY.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
co-Sponsors
(D) Senate District
(D) Senate District
(D, WF) Senate District
2019-S4458A (ACTIVE) - Details
2019-S4458A (ACTIVE) - Sponsor Memo
BILL NUMBER: S4458A
SPONSOR: RANZENHOFER
TITLE OF BILL:
An act to amend the tax law, in relation to increasing the child and
dependent care tax credit
PURPOSE:
To increase the child and dependent care tax credit to reflect increases
in the cost of child and dependent care.
SUMMARY OF PROVISIONS:
Section 1 - amends paragraph (1-b) of subsection (c) of section 606 of
the Tax Law to increase the maximum amount of child and dependent care
costs that are subject to the child and dependent care tax credit
commencing with tax year 2020.
Section 2 - Effective date.
2019-S4458A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
4458--A
2019-2020 Regular Sessions
I N S E N A T E
March 12, 2019
___________
Introduced by Sens. RANZENHOFER, CARLUCCI, FELDER, KENNEDY -- read twice
and ordered printed, and when printed to be committed to the Committee
on Budget and Revenue -- recommitted to the Committee on Budget and
Revenue in accordance with Senate Rule 6, sec. 8 -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the tax law, in relation to increasing the child and
dependent care tax credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph (1-b) of subsection (c) of section 606 of the tax
law, as added by section 2 of part T of chapter 59 of the laws of 2017,
is amended to read as follows:
(1-b) Notwithstanding anything in this subsection to the contrary, a
taxpayer shall be allowed a credit as provided in this subsection equal
to the applicable percentage of the credit allowable under section twen-
ty-one of the internal revenue code for the same taxable year (without
regard to whether the taxpayer in fact claimed the credit under such
section twenty-one for such taxable year) that would have been allowed
absent the application of section 21(c) of such code [for taxpayers with
more than two qualifying individuals], provided however, that the credit
shall be calculated as if the dollar limit on amount creditable shall
not exceed:
(I) seven thousand five hundred dollars if there are three qualifying
individuals, eight thousand five hundred dollars if there are four qual-
ifying individuals, and nine thousand dollars if there are five or more
qualifying individuals FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND NINE-
TEEN; AND
(II) SIX THOUSAND DOLLARS IF THERE IS ONE QUALIFYING INDIVIDUAL,
TWELVE THOUSAND DOLLARS IF THERE ARE TWO QUALIFYING INDIVIDUALS, FIFTEEN
THOUSAND DOLLARS IF THERE ARE THREE QUALIFYING INDIVIDUALS, SEVENTEEN
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
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