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

                                  9102

                          I N  A S S E M B L Y

                            January 26, 2016
                               ___________

Introduced  by  M. of A. KOLB -- read once and referred to the Committee
  on Ways and Means

AN ACT to amend the tax law, in relation to calculation  of  the  earned
  income 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 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.
  The  applicable percentage shall be (i) seven and one-half percent for
taxable years  beginning  in  nineteen  hundred  ninety-four,  (ii)  ten
percent  for  taxable  years  beginning in nineteen hundred ninety-five,
(iii) twenty percent for taxable years beginning after nineteen  hundred
ninety-five  and  before  two  thousand,  (iv)  twenty-two  and one-half
percent for taxable years beginning in  two  thousand,  (v)  twenty-five
percent  for  taxable  years beginning in two thousand one, (vi) twenty-
seven and one-half percent for taxable years beginning in  two  thousand
two, [and] (vii) thirty percent for taxable years beginning in two thou-
sand three, AND (VIII) FORTY-FIVE PERCENT FOR TAXABLE YEARS BEGINNING IN
TWO  THOUSAND  SIXTEEN  and thereafter.   Provided, however, that if the
reversion event, as defined in this paragraph,  occurs,  the  applicable
percentage  shall be twenty percent for taxable years ending on or after
the date on which the reversion  event  occurred.  The  reversion  event
shall  be  deemed  to have occurred on the date on which federal action,
including but not limited to, administrative,  statutory  or  regulatory
changes, materially reduces or eliminates New York state's allocation of
the  federal  temporary  assistance  for  needy families block grant, or
materially reduces the ability of the state to spend  federal  temporary
assistance  for  needy  families block grant funds for the earned income

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

                                                           LBD13300-02-5

A. 9102                             2

credit or to apply state general fund  spending  on  the  earned  income
credit  toward  the  temporary assistance for needy families block grant
maintenance of effort requirement, and the commissioner of the office of
temporary and disability assistance shall certify the date of such event
to  the  commissioner of taxation and finance, the director of the divi-
sion of the budget, the speaker of the assembly and the temporary presi-
dent of the senate.
  S 2. This act shall take effect immediately and shall apply to taxable
years beginning on and after January 1, 2016.