assembly Bill A1060

2019-2020 Legislative Session

Increases the child and dependent care 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

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to ways and means
Jan 14, 2019 referred to ways and means

Co-Sponsors

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Multi-Sponsors

A1060 (ACTIVE) - Details

See Senate Version of this Bill:
S4458
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2017-2018 Legislative Session:
A10265, S7815

A1060 (ACTIVE) - Summary

Increases the child and dependent care tax credit.

A1060 (ACTIVE) - Bill Text download pdf


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

                                  1060

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                            January 14, 2019
                               ___________

Introduced  by  M.  of  A.  JAFFEE, ENGLEBRIGHT, D'URSO, DICKENS, SIMON,
  HEVESI, COOK, GUNTHER, BARRON, AUBRY, GOTTFRIED,  MONTESANO,  RAIA  --
  Multi-Sponsored by -- M. of A. THIELE -- read once and referred to the
  Committee on Ways and Means

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 IN TWO THOUSAND TWENTY.
  § 2. This act shall take effect immediately.