NY State Senate Bill 2017-S2703

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
Jan 03, 2018	referred to investigations and government operations
Jan 17, 2017	referred to investigations and government operations

2017-S2703 (ACTIVE) - Details

Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §§614 & 616, Tax L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S7622
2013-2014: S3201
2015-2016: S2785
2019-2020: S5004
2021-2022: S5470
2023-2024: S7188

2017-S2703 (ACTIVE) - Summary

Establishes the New York state foreign dependent 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.

2017-S2703 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S2703

 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 2015, 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 2015, 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
in 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 :

2015-16: S2785A - Amend and Recommit to Investigations and Government
Operations
2013-14: S3201 - Referred to Investigations and Government Operations
2011-12: S7622/10079A - Investigations & Gov't Operations
 FISCAL IMPLICATIONS :

To be determined.

 EFFECTIVE DATE :
This act shall take effect immediately.

2017-S2703 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2703
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 17, 2017
                                ___________
 
 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".
   § 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  EIGHTEEN,  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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD07642-01-7

 S. 2703                             2
 
   (C)  FOR  THE  PURPOSES OF THIS SUBSECTION, THE TERM "DEPENDENT CHILD"
 SHALL MEAN ANY CHILD OF THE INDIVIDUAL WHO IS AGE EIGHTEEN OR YOUNGER.
   (D)  ANY  TAXPAYER  WHO  SUBMITS A FALSE OR FRAUDULENT DOCUMENT TO THE
 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.
   § 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 EIGHTEEN, 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 THE 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.
   § 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 S2703

Sponsored By

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

2017-S2703 (ACTIVE) - Details

2017-S2703 (ACTIVE) - Summary

2017-S2703 (ACTIVE) - Sponsor Memo

2017-S2703 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S2703

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Sponsored By

Kevin S. Parker

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

2017-S2703 (ACTIVE) - Details

2017-S2703 (ACTIVE) - Summary

2017-S2703 (ACTIVE) - Sponsor Memo

2017-S2703 (ACTIVE) - Bill Text download pdf

Comments