Senate Bill S6912

2021-2022 Legislative Session

Relates to providing an additional child and dependent care tax credit

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Budget And Revenue Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2021-S6912 (ACTIVE) - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: S8989
2023-2024: S5323

2021-S6912 (ACTIVE) - Summary

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

2021-S6912 (ACTIVE) - Sponsor Memo

2021-S6912 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6912
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               May 20, 2021
                                ___________
 
 Introduced  by  Sens. SERINO, TEDISCO -- read twice and ordered printed,
   and when printed to be committed to the Committee on Budget and Reven-
   ue
 
 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 TWENTY-ONE, 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.
                                                            LBD08042-02-1



              

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