Assembly Actions - Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 01, 2023 | reported and committed to finance |
Feb 13, 2023 | print number 277a |
Feb 13, 2023 | amend and recommit to budget and revenue |
Jan 04, 2023 | referred to budget and revenue |
senate Bill S277A
Sponsored By
Andrew Gounardes
(D) 26th Senate District
Current Bill Status - In Senate Committee Finance Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Your Voice
Actions
Votes
Bill Amendments
Co-Sponsors
Jeremy A. Cooney
(D, WF) 56th Senate District
Iwen Chu
(D, WF) 17th Senate District
Brad Hoylman-Sigal
(D, WF) 47th Senate District
Timothy M. Kennedy
(D, WF) 63rd Senate District
S277 - Details
- See Assembly Version of this Bill:
- A4022
- Current Committee:
- Senate Finance
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
- Versions Introduced in 2021-2022 Legislative Session:
-
S9610
S277 - Sponsor Memo
BILL NUMBER: S277 SPONSOR: GOUNARDES TITLE OF BILL: An act to amend the tax law, in relation to a New York state working families tax credit PURPOSE OR GENERAL IDEA OF BILL: To create the New York State Working Families Tax Credit SUMMARY OF PROVISIONS: Section 1 redefines the State Earned Income Tax Credit to be for those without qualifying children. Section 2 clarifies that the current Empire State Child Tax Credit is valid for years prior to January 1, 2023. Section 3 creates the New York State Working Families Tax Credit.
S277 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 277 2023-2024 Regular Sessions I N S E N A T E (PREFILED) January 4, 2023 ___________ Introduced by Sens. GOUNARDES, KENNEDY, RIVERA -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue AN ACT to amend the tax law, in relation to a New York state working families 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 subsection (d) of section 606 of the tax law, as amended by section 1 of part Q of chapter 63 of the laws of 2000, is amended to read as follows: (1) General. A taxpayer WITH NO QUALIFYING CHILD AS DEFINED IN 26 U.S.C. § 152(C) shall be allowed a credit as provided herein equal to (i) the applicable percentage of the earned income credit allowed under section thirty-two of the internal revenue code for the same taxable year, (ii) reduced by the credit permitted under subsection (b) of this section. § 2. 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] FOR TAXABLE YEARS BEGINNING PRIOR TO JANUARY FIRST, TWO THOU- SAND TWENTY-THREE, A resident taxpayer shall be allowed a credit as provided herein equal to the greater of one hundred dollars times the number of qualifying children of the taxpayer or the applicable percent- age 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Co-Sponsors
Jeremy A. Cooney
(D, WF) 56th Senate District
Jacob Ashby
(R) 43rd Senate District
Samra G. Brouk
(D, WF) 55th Senate District
Iwen Chu
(D, WF) 17th Senate District
S277A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A4022
- Current Committee:
- Senate Finance
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
- Versions Introduced in 2021-2022 Legislative Session:
-
S9610
S277A (ACTIVE) - Sponsor Memo
BILL NUMBER: S277A SPONSOR: GOUNARDES TITLE OF BILL: An act to amend the tax law, in relation to a New York state working families tax credit PURPOSE OR GENERAL IDEA OF BILL: To create the New York State Working Families Tax Credit SUMMARY OF PROVISIONS: Section 1 redefines the State Earned Income Tax Credit to be for those without qualifying children. Section 2 clarifies that the current Empire State Child Tax Credit is valid for years prior to January 1, 2024. Section 3 creates the New York State Working Families Tax Credit.
S277A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 277--A 2023-2024 Regular Sessions I N S E N A T E (PREFILED) January 4, 2023 ___________ Introduced by Sens. GOUNARDES, COONEY, CHU, HOYLMAN-SIGAL, KENNEDY, MYRIE, RAMOS, RIVERA, SEPULVEDA -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to a New York state working families 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 subsection (d) of section 606 of the tax law, as amended by section 1 of part Q of chapter 63 of the laws of 2000, is amended to read as follows: (1) General. A taxpayer WITH NO QUALIFYING CHILD AS DEFINED IN 26 U.S.C. § 152(C) shall be allowed a credit as provided herein equal to (i) the applicable percentage of the earned income credit allowed under section thirty-two of the internal revenue code for the same taxable year, (ii) reduced by the credit permitted under subsection (b) of this section. § 2. 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] FOR TAXABLE YEARS BEGINNING PRIOR TO JANUARY FIRST, TWO THOU- SAND TWENTY-FOUR, A resident taxpayer shall be allowed a credit as provided herein equal to the greater of one hundred dollars times the number of qualifying children of the taxpayer or the applicable percent- age 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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