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Senate Bill S9404

2023-2024 Legislative Session

Establishes a supplemental household and dependent care credit payment

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

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2023-S9404 (ACTIVE) - Details

See Assembly Version of this Bill:
A9242
Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2025-2026 Legislative Session:
S975, A2314

2023-S9404 (ACTIVE) - Summary

Establishes a supplemental household and dependent care credit payment for taxpayers who are eligible for certain household and dependent care services necessary for gainful employment.

2023-S9404 (ACTIVE) - Sponsor Memo

2023-S9404 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9404
 
                             I N  S E N A T E
 
                               May 15, 2024
                                ___________
 
 Introduced  by  Sen. ROLISON -- 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 establishing a  supplemental
   household and dependent care credit payment
 
   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) NOTWITHSTANDING ANYTHING IN THIS SUBSECTION TO THE CONTRARY, FOR
 TAX YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND TWENTY-FOUR,
 THE  COMMISSIONER  SHALL ISSUE A PAYMENT OF A SUPPLEMENTAL HOUSEHOLD AND
 DEPENDENT CARE SERVICES CREDIT TO TAXPAYERS ELIGIBLE FOR A CREDIT  UNDER
 THIS  SUBSECTION.  THE AMOUNT OF THE SUPPLEMENTAL PAYMENT SHALL BE EQUAL
 TO FIFTEEN PERCENT OF THE TAXPAYER'S ACTUAL CREDIT AMOUNT ALLOWED PURSU-
 ANT TO PARAGRAPH ONE OF THIS SUBSECTION. IF THE AMOUNT OF CREDIT  ALLOW-
 ABLE UNDER THIS SUBSECTION FOR ANY TAXABLE YEAR SHALL EXCEED THE TAXPAY-
 ER'S TAX FOR SUCH YEAR, THE EXCESS SHALL BE TREATED AS AN OVERPAYMENT OF
 TAX  TO  BE  CREDITED  OR  REFUNDED IN ACCORDANCE WITH THE PROVISIONS OF
 SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTICLE, PROVIDED, HOWEVER,  THAT
 NO INTEREST SHALL BE PAID THEREON.
   § 2. This act shall take effect immediately and shall apply to taxable
 years commencing on and after January 1, 2024.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13842-01-3

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