senate Bill S8989

2019-2020 Legislative Session

Relates to providing an additional child and dependent care tax credit

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Rules 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 (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Sep 18, 2020 referred to rules

Co-Sponsors

S8989 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L

S8989 (ACTIVE) - Summary

Provides an additional child and dependent care tax credit equal to fifty percent of the credit allowed currently by law.

S8989 (ACTIVE) - Sponsor Memo

S8989 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8989
 
                             I N  S E N A T E
 
                            September 18, 2020
                                ___________
 
 Introduced  by  Sen.  SERINO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the tax law, in  relation  to  providing  an  additional
   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. Subsection (c) of section 606 of the tax law is amended  by
 adding a new paragraph 1-c to read as follows:
   (1-C)  FOR  TAXABLE  YEARS  BEGINNING  AFTER TWO THOUSAND NINETEEN, IN
 ADDITION TO THE CREDIT CALCULATED UNDER PARAGRAPHS ONE AND ONE-A OF THIS
 SUBSECTION, THERE SHALL BE AN ADDITIONAL CREDIT EQUAL TO  FIFTY  PERCENT
 OF THE CREDIT ALLOWED UNDER PARAGRAPHS ONE AND ONE-A OF THIS SUBSECTION.
 HOWEVER,  THE  CREDIT ALLOWED UNDER THIS SUBSECTION SHALL NOT EXCEED ONE
 HUNDRED PERCENT OF THE CREDIT ALLOWABLE UNDER SECTION TWENTY-ONE OF  THE
 INTERNAL  REVENUE  CODE,  WITHOUT REGARD TO WHETHER THE TAXPAYER IN FACT
 CLAIMED THE CREDIT UNDER SUCH SECTION TWENTY-ONE FOR SUCH TAXABLE YEAR.
   § 2. This act shall take effect immediately.
 
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD17254-01-0


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