senate Bill S2431A

2019-2020 Legislative Session

Relates to increasing the earned income tax credit in the city of New York from five to fifteen percent

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Cities 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 (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 04, 2020 print number 2431a
Feb 04, 2020 amend and recommit to cities
Jan 08, 2020 referred to cities
Apr 30, 2019 reported and committed to finance
Jan 24, 2019 referred to cities

Votes

view votes

Apr 30, 2019 - Cities committee Vote

S2431
6
0
committee
6
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: Apr 30, 2019

aye wr (1)

S2431 - Details

Current Committee:
Senate Cities
Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-1706, NYC Ad Cd; amd §1310, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: S8207
2017-2018: S3508

S2431 - Summary

Increases the earned income tax credit in the city of New York from five to fifteen percent.

S2431 - Sponsor Memo

S2431 - Bill Text download pdf


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

                                  2431

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 24, 2019
                               ___________

Introduced  by  Sen. SERRANO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Cities

AN ACT to amend the administrative code of the city of New York and  the
  tax law, in relation to 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 subdivision (d) of section  11-1706  of  the
administrative  code  of  the  city  of  New York, as added by local law
number 39 of the city of New York for the year 2004, is amended to  read
as follows:
  (1)  For  taxable  years  beginning after two thousand three, a credit
against the city personal income tax shall be  allowed,  equal  to  five
percent  of the earned income credit allowed under section thirty-two of
the internal revenue code for the same taxable  year;  AND  FOR  TAXABLE
YEARS  BEGINNING  AFTER  TWO  THOUSAND TWENTY, A CREDIT AGAINST THE CITY
PERSONAL INCOME TAX SHALL BE ALLOWED, EQUAL TO FIFTEEN  PERCENT  OF  THE
EARNED  INCOME  CREDIT  ALLOWED UNDER SECTION THIRTY-TWO OF THE INTERNAL
REVENUE CODE FOR THE SAME TAXABLE YEAR.
  § 2. Paragraph 1 of subsection (f) of section 1310 of the tax law,  as
added  by  section  2  of  part  V of chapter 60 of the laws of 2004, is
amended to read as follows:
  (1) Notwithstanding any other provision of law to  the  contrary,  any
city  having  a  population  of  one million or more, acting through its
local legislative body, is hereby authorized and empowered to adopt  and
amend  local laws granting in any such city, for taxable years beginning
after two thousand three, a credit against the city personal income  tax
equal  to five percent of the earned income credit allowed under section
thirty-two of the internal revenue code for the same taxable  year;  AND
FOR  TAXABLE YEARS BEGINNING AFTER TWO THOUSAND TWENTY, A CREDIT AGAINST
THE CITY PERSONAL INCOME TAX SHALL BE ALLOWED, EQUAL TO FIFTEEN  PERCENT

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03957-01-9

S2431A (ACTIVE) - Details

Current Committee:
Senate Cities
Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-1706, NYC Ad Cd; amd §1310, Tax L
Versions Introduced in Other Legislative Sessions:
2015-2016: S8207
2017-2018: S3508

S2431A (ACTIVE) - Summary

Increases the earned income tax credit in the city of New York from five to fifteen percent.

S2431A (ACTIVE) - Sponsor Memo

S2431A (ACTIVE) - Bill Text download pdf


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

                                 2431--A

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 24, 2019
                               ___________

Introduced  by  Sen. SERRANO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Cities --  recommitted  to
  the  Committee  on  Cities 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 administrative code of the city of New York and the
  tax law, in relation to 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 subdivision (d) of section 11-1706 of the
administrative code of the city of New  York,  as  added  by  local  law
number  39 of the city of New York for the year 2004, is amended to read
as follows:
  (1) For taxable years beginning after two  thousand  three,  a  credit
against  the  city  personal  income tax shall be allowed, equal to five
percent of the earned income credit allowed under section thirty-two  of
the  internal  revenue  code  for the same taxable year; AND FOR TAXABLE
YEARS BEGINNING AFTER TWO THOUSAND TWENTY, A  CREDIT  AGAINST  THE  CITY
PERSONAL  INCOME  TAX  SHALL BE ALLOWED, EQUAL TO FIFTEEN PERCENT OF THE
EARNED INCOME CREDIT ALLOWED UNDER SECTION THIRTY-TWO  OF  THE  INTERNAL
REVENUE CODE FOR THE SAME TAXABLE YEAR.
  §  2. Paragraph 1 of subsection (f) of section 1310 of the tax law, as
added by section 2 of part V of chapter 60  of  the  laws  of  2004,  is
amended to read as follows:
  (1)  Notwithstanding  any  other provision of law to the contrary, any
city having a population of one million  or  more,  acting  through  its
local  legislative body, is hereby authorized and empowered to adopt and
amend local laws granting in any such city, for taxable years  beginning
after  two thousand three, a credit against the city personal income tax
equal to five percent of the earned income credit allowed under  section
thirty-two  of  the internal revenue code for the same taxable year; AND

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

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