S T A T E O F N E W Y O R K
________________________________________________________________________
3146--A
2021-2022 Regular Sessions
I N A S S E M B L Y
January 22, 2021
___________
Introduced by M. of A. HEVESI, CLARK, SIMON, McDONALD, J. RIVERA,
CAHILL, MITAYNES, BARRON, FAHY, GOTTFRIED, OTIS, BRONSON -- read once
and referred to the Committee on Ways and Means -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the tax law, in relation to the calculation of the
empire state child credit
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph 1 of subsection (c-1) of section 606 of the tax
law, as amended by section 1 of part P of chapter 59 of the laws of
2018, is amended to read as follows:
(1) A resident taxpayer WITH A NEW YORK STATE ADJUSTED GROSS INCOME OF
LESS THAN SEVENTY-FIVE THOUSAND DOLLARS IN THE CASE OF AN INDIVIDUAL WHO
IS NOT MARRIED; ONE HUNDRED TEN THOUSAND DOLLARS IN THE CASE OF A JOINT
RETURN; OR FIFTY-FIVE THOUSAND DOLLARS IN THE CASE OF A MARRIED INDIVID-
UAL FILING A SEPARATE RETURN shall be allowed a credit as provided here-
in equal to the greater of [one]: (A) FIVE hundred dollars times the
number of qualifying children of the taxpayer WHO ARE FOUR YEARS OF AGE
OR OLDER AND ONE THOUSAND DOLLARS TIMES THE NUMBER OF QUALIFYING CHIL-
DREN OF THE TAXPAYER WHO ARE LESS THAN FOUR YEARS OF AGE; or (B) the
applicable percentage of the child tax credit allowed the taxpayer under
section twenty-four of the internal revenue code for the same taxable
year for each qualifying child. Provided, however, in the case of a
taxpayer whose federal adjusted gross income exceeds the applicable
threshold amount set forth by section 24(b)(2) of the Internal Revenue
Code, the credit shall only be equal to the applicable percentage of the
child tax credit allowed the taxpayer under section 24 of the Internal
Revenue Code for each qualifying child. For the purposes of this
subsection, a qualifying child shall be a child who meets the definition
of qualified child under section 24(c) (1) of the internal revenue code
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01674-02-1
A. 3146--A 2
[and is at least four years of age]. The applicable percentage shall be
thirty-three percent. For purposes of this subsection, any reference to
section 24 of the Internal Revenue Code shall be a reference to such
section as it existed immediately prior to the enactment of Public Law
115-97.
§ 2. This act shall take effect immediately and shall apply to quali-
fied children as defined prior to the enactment of Public Law 115-97 who
do not receive the child tax credit under the American Rescue Plan Act
of 2021; provided further, that this act shall apply to all other quali-
fied children as defined prior to the enactment of Public Law 115-97 in
the first tax year after the child tax credit under the American Rescue
Plan Act of 2021 has ended or in taxable years commencing on or after
January 1, 2022, whichever is later.