Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to ways and means |
Feb 10, 2021 |
referred to ways and means |
Assembly Bill A5010
2021-2022 Legislative Session
Sponsored By
LUNSFORD
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
co-Sponsors
Emily Gallagher
Steven Englebright
Steve Stern
Gina Sillitti
2021-A5010 (ACTIVE) - Details
2021-A5010 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5010 2021-2022 Regular Sessions I N A S S E M B L Y February 10, 2021 ___________ Introduced by M. of A. LUNSFORD, GALLAGHER, ENGLEBRIGHT, STERN, SILLIT- TI, ZINERMAN, BARRON, DICKENS, JACKSON, SEAWRIGHT -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to increasing the child and dependent care tax credit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (1-b) of subsection (c) of section 606 of the tax law, as added by section 2 of part T of chapter 59 of the laws of 2017, is amended to read as follows: (1-b) Notwithstanding anything in this subsection to the contrary, a taxpayer shall be allowed a credit as provided in this subsection equal to the applicable percentage of the credit allowable under section twen- ty-one of the internal revenue code for the same taxable year (without regard to whether the taxpayer in fact claimed the credit under such section twenty-one for such taxable year) that would have been allowed absent the application of section 21(c) of such code [for taxpayers with more than two qualifying individuals], provided however, that the credit shall be calculated as if the dollar limit on amount creditable shall not exceed: (I) seven thousand five hundred dollars if there are three qualifying individuals, eight thousand five hundred dollars if there are four qual- ifying individuals, and nine thousand dollars if there are five or more qualifying individuals FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWEN- TY-ONE; AND (II) SIX THOUSAND DOLLARS IF THERE IS ONE QUALIFYING INDIVIDUAL, TWELVE THOUSAND DOLLARS IF THERE ARE TWO QUALIFYING INDIVIDUALS, FIFTEEN THOUSAND DOLLARS IF THERE ARE THREE QUALIFYING INDIVIDUALS, SEVENTEEN THOUSAND DOLLARS IF THERE ARE FOUR QUALIFYING INDIVIDUALS, AND EIGHTEEN THOUSAND DOLLARS IF THERE ARE FIVE OR MORE QUALIFYING INDIVIDUALS FOR TAXABLE YEARS BEGINNING IN TWO THOUSAND TWENTY-TWO. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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