NY State Senate Bill 2011-S7622

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 07, 2012	referred to investigations and government operations

2011-S7622 (ACTIVE) - Details

See Assembly Version of this Bill:: A10079
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §§614 & 616, Tax L
Versions Introduced in Other Legislative Sessions:: 2013-2014: S3201, A66
2015-2016: S2785
2017-2018: S2703
2019-2020: S5004
2021-2022: S5470
2023-2024: S7188

2011-S7622 (ACTIVE) - Summary

Establishes the New York state foreign children tax inclusion act authorizing a tax deduction for support provided to children outside of the United States; defines "dependent children"; provides an exemption of $1,000 for each foreign dependent child.

2011-S7622 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S7622

TITLE OF BILL:
An act
to amend the tax law, in relation to establishing
the New York state foreign dependent children tax inclusion act

PURPOSE OR GENERAL IDEA OF BILL:
The purpose of the bill is to allow a
resident taxpayer to receive a state income tax standard deduction
and tax exemption for the financial support provided to a dependent
child or children residing outside of the United States.

SUMMARY OF SPECIFIC PROVISIONS:
Subsection (c) of section 614 of the
tax law is amended by adding subdivision (2) to allow:

(2) (A) For taxable years after two thousand thirteen, an individual
providing financial support to a dependent child or children residing
outside of the United States to be considered as a head of household
for purposes of this section when the individual provides certain
proof as specified in this section.

(B) Provides the definition of "support" for the purposes of this
section.

(C) Provides the definition of "dependent child" for the purposes of
this section.

(D) Provides the penalty imposed for any taxpayer who submits a false
or fraudulent document.

(3) Section 616 of the tax law is amended by adding a new subsection
to allow, for taxable years after two thousand thirteen, a resident
taxpayer to receive a New York tax exemption for the financial
support provided to a dependent child or children residing outside of
the United States.

Section 4: Establishes the effective date and gives the commissioner
of taxation and finance the authorization to promulgate rules and
regulation necessary to implement this act.

JUSTIFICATION:
Currently, under the New York State Tax Law, resident
taxpayers are eligible for a standard deduction and tax exemption
only when their dependent children are legal residents or citizens of
the United States and currently live with them for more than half of
the year. Many resident taxpayers provide financial support to their
children who reside outside of the United States, which is a high
expense for many New Yorkers especially in these economic times.
These residents

are taxed based on their total annual income without taking into
consideration the significant support they provide to their families
ill other countries. This legislation does not provide a tax credit
but a small standard deduction and tax exemption that will help them
save some money and :receive the same benefit ether taxpayers receive
just because their children reside in the united states and live with
them. This bill will not allow these taxpayers to receive an Earned
Income Tax Credit (EITC) for these dependent children.

PRIOR LEGISLATIVE HISTORY:
New Legislation.

FISCAL IMPLICATIONS:
To be determined.

EFFECTIVE DATE:
This act shall take effect immediately.

2011-S7622 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7622

                            I N  S E N A T E

                              June 7, 2012
                               ___________

Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Investigations and Govern-
  ment Operations

AN ACT to amend the tax law, in relation to establishing  the  New  York
  state foreign dependent children tax inclusion act

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Short title.  This act shall be known and may be  cited  as
the "New York state foreign dependent children tax inclusion act".
  S 2. Subsection (c) of section 614 of the tax law, as amended by chap-
ter 170 of the laws of 1994, is amended to read as follows:
  (c)  Head of household. (1) For taxable years beginning after nineteen
hundred ninety-six, the New York standard deduction of an individual who
is a head of household shall be ten thousand five hundred  dollars;  for
taxable  years  beginning  in nineteen hundred ninety-six, such standard
deduction shall be ten thousand dollars; for taxable years beginning  in
nineteen  hundred  ninety-five,  such  standard deduction shall be eight
thousand one hundred fifty dollars;  and  for  taxable  years  beginning
after  nineteen  hundred eighty-nine and before nineteen hundred ninety-
five, such standard deduction shall be seven thousand dollars.
  (2) (A) FOR TAXABLE YEARS BEGINNING AFTER TWO  THOUSAND  THIRTEEN,  AN
INDIVIDUAL  PROVIDING  SUPPORT TO A DEPENDENT CHILD OR CHILDREN RESIDING
OUTSIDE OF THE UNITED STATES SHALL  BE  DEEMED  HEAD  OF  HOUSEHOLD  FOR
PURPOSES OF THIS SUBSECTION WHERE THE INDIVIDUAL PROVIDES PROOF OF:
  (I)  THE  LEGAL  RELATIONSHIP  BETWEEN  THE  INDIVIDUAL AND HIS OR HER
DEPENDENT CHILD OR CHILDREN; AND
  (II) THE AMOUNT  OF  MONEY  WHICH  THE  DEPENDENT  CHILD  OR  CHILDREN
RECEIVED FROM THE INDIVIDUAL.
  (B)  SUPPORT  PROVIDED  TO CHILDREN OUTSIDE OF THE UNITED STATES MEANS
MONEY OR OTHER FINANCIAL SUPPORT WHICH IS SENT  OR  TRANSFERRED  OUTSIDE
THE UNITED STATES TO A DEPENDENT CHILD OF THE INDIVIDUAL.
  (C)  FOR  THE  PURPOSES OF THIS SUBSECTION, THE TERM "DEPENDENT CHILD"
SHALL MEAN ANY CHILD OF THE INDIVIDUAL WHO IS AGE EIGHTEEN OR YOUNGER.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13721-08-2

S. 7622                             2

  (D) ANY TAXPAYER WHO SUBMITS A FALSE OR FRAUDULENT DOCUMENT TO DEPART-
MENT REGARDING THE PROOF REQUIRED PURSUANT TO THIS SUBSECTION  SHALL  BE
SUBJECT  TO  THE  PENALTY IMPOSED PURSUANT TO SUBSECTION (CC) OF SECTION
SIX HUNDRED EIGHTY-FIVE OF THIS ARTICLE.
  S  3. Section 616 of the tax law is amended by adding a new subsection
(c) to read as follows:
  (C) FOREIGN DEPENDENT CHILDREN. FOR TAXABLE YEARS BEGINNING AFTER  TWO
THOUSAND  THIRTEEN,  A  RESIDENT  INDIVIDUAL SHALL BE ALLOWED A NEW YORK
EXEMPTION OF ONE THOUSAND DOLLARS  FOR  EACH  DEPENDENT  CHILD  RESIDING
OUTSIDE OF THE UNITED STATES. SUCH INDIVIDUAL SHALL PROVIDE PROOF OF THE
LEGAL RELATIONSHIP BETWEEN THE INDIVIDUAL AND HIS OR HER DEPENDENT CHILD
OR  CHILDREN  AND  THE  AMOUNT  OF  MONEY THE INDIVIDUAL PROVIDES TO THE
DEPENDENT CHILD OR CHILDREN.  ANY TAXPAYER WHO SUBMITS A FALSE OR  FRAU-
DULENT  DOCUMENT  TO DEPARTMENT REGARDING THE PROOF REQUIRED PURSUANT TO
THIS SUBSECTION SHALL BE SUBJECT TO  THE  PENALTY  IMPOSED  PURSUANT  TO
SUBSECTION (CC) OF SECTION SIX HUNDRED EIGHTY-FIVE OF THIS ARTICLE.  FOR
PURPOSES  OF  THIS SUBSECTION, THE TERM "DEPENDENT CHILD" SHALL MEAN ANY
CHILD OF THE RESIDENT INDIVIDUAL WHO IS  AGE  EIGHTEEN  OR  YOUNGER  WHO
RESIDES OUTSIDE OF THE UNITED STATES.
  S  4.  This  act  shall take effect immediately.   The commissioner of
taxation and finance is authorized to promulgate any and all  rules  and
regulations  and take any other measures necessary to implement this act
on its effective date.

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Senate Bill S7622

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

2011-S7622 (ACTIVE) - Details

2011-S7622 (ACTIVE) - Summary

2011-S7622 (ACTIVE) - Sponsor Memo

2011-S7622 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S7622

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Sponsored By

Kevin S. Parker

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

2011-S7622 (ACTIVE) - Details

2011-S7622 (ACTIVE) - Summary

2011-S7622 (ACTIVE) - Sponsor Memo

2011-S7622 (ACTIVE) - Bill Text download pdf

Comments