Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 08, 2020 |
print number 8835a |
Jul 08, 2020 |
amend and recommit to ways and means |
Jan 08, 2020 |
referred to ways and means |
Dec 18, 2019 |
referred to ways and means |
Assembly Bill A8835A
2019-2020 Legislative Session
Sponsored By
HEVESI
Archive: Last Bill Status - In Assembly 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
Actions
Bill Amendments
2019-A8835 - Details
2019-A8835 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8835 2019-2020 Regular Sessions I N A S S E M B L Y December 18, 2019 ___________ Introduced by M. of A. HEVESI -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to the calculation of the empire state child 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 (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 resident taxpayer shall be allowed a credit as provided herein equal to the greater of [one]: (A) FIVE hundred dollars times the number of qualifying children of the taxpayer WHO ARE FOUR YEARS OF AGE OR OLDER AND ONE THOUSAND DOLLARS TIMES THE NUMBER OF QUALIFYING CHILDREN OF THE TAXPAYER WHO ARE LESS THAN FOUR YEARS OF AGE; or (B) the applica- ble percentage 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 each qualifying child. For the purposes of this subsection, a qualifying child shall be a child who meets the definition of qualified child under section 24(c) (1) of the internal revenue code [and is at least four years of age]. The applicable percentage shall be thirty-three percent. For purposes of this subsection, any reference to section 24 of the Internal Revenue Code shall be a reference to such section as it existed immediately prior to the enactment of Public Law 115-97. § 2. This act shall take effect immediately and shall apply to taxable years commencing on or after January 1, 2020. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
2019-A8835A (ACTIVE) - Details
2019-A8835A (ACTIVE) - Summary
Adjusts the calculation of the empire state child credit to provide for a one thousand dollar credit per qualifying child who is less than four years of age and a five hundred dollar credit per qualifying child who is four years of age or older for certain qualifying taxpayers.
2019-A8835A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8835--A 2019-2020 Regular Sessions I N A S S E M B L Y December 18, 2019 ___________ Introduced by M. of A. HEVESI -- read once and referred to the Committee on Ways and Means -- recommitted to the Committee on Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT to amend the tax law, in relation to the calculation of the empire state child 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 (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 resident taxpayer WITH A NEW YORK STATE ADJUSTED GROSS INCOME OF LESS THAN SEVENTY-FIVE THOUSAND DOLLARS IN THE CASE OF AN INDIVIDUAL WHO IS NOT MARRIED; ONE HUNDRED TEN THOUSAND DOLLARS IN THE CASE OF A JOINT RETURN; OR FIFTY-FIVE THOUSAND DOLLARS IN THE CASE OF A MARRIED INDIVID- UAL FILING A SEPARATE RETURN shall be allowed a credit as provided here- in equal to the greater of [one]: (A) FIVE hundred dollars times the number of qualifying children of the taxpayer WHO ARE FOUR YEARS OF AGE OR OLDER AND ONE THOUSAND DOLLARS TIMES THE NUMBER OF QUALIFYING CHIL- DREN OF THE TAXPAYER WHO ARE LESS THAN FOUR YEARS OF AGE; or (B) the applicable percentage 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 each qualifying child. For the purposes of this subsection, a qualifying child shall be a child who meets the definition of qualified child under section 24(c) (1) of the internal revenue code EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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