assembly Bill A3146A

2021-2022 Legislative Session

Relates to the calculation of the empire state child credit

download bill text pdf

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 (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 25, 2021 print number 3146a
Mar 25, 2021 amend and recommit to ways and means
Jan 22, 2021 referred to ways and means

Co-Sponsors

view additional co-sponsors

A3146 - Details

See Senate Version of this Bill:
S5866
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2019-2020 Legislative Session:
A8835

A3146 - Summary

Adjusts the calculation of the empire state child credit to provide for a one thousand dollar credit per qualifying child who is less than four years of age and a five hundred dollar credit per qualifying child who is four years of age or older for certain qualifying taxpayers.

A3146 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3146
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 22, 2021
                                ___________
 
 Introduced by M. of A. HEVESI -- read once and referred to the Committee
   on Ways and Means
 
 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
 [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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Co-Sponsors

view additional co-sponsors

A3146A (ACTIVE) - Details

See Senate Version of this Bill:
S5866
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2019-2020 Legislative Session:
A8835

A3146A (ACTIVE) - Summary

Adjusts the calculation of the empire state child credit to provide for a one thousand dollar credit per qualifying child who is less than four years of age and a five hundred dollar credit per qualifying child who is four years of age or older for certain qualifying taxpayers.

A3146A (ACTIVE) - Bill Text download pdf

 
                     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.