S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4469
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 16, 2023
                                ___________
 
 Introduced  by M. of A. RAMOS -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the tax law, in relation to providing tax deductions for
   expenditures made to purchase, construct, renovate  or  remodel  child
   care facilities
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The tax law is amended by adding a  new  section  188-a  to
 read as follows:
   §  188-A.  DEDUCTION FOR CREATION OR IMPROVEMENT OF CHILD CARE FACILI-
 TIES. A TAXPAYER OPERATING A CHILD CARE FACILITY WITHIN THE STATE PRIMA-
 RILY FOR THE CHILDREN OF SUCH TAXPAYER'S EMPLOYEES, SHALL BE  ALLOWED  A
 DEDUCTION  FROM  TAXABLE  INCOME  FOR  ANY  EXPENDITURE MADE TO ACQUIRE,
 CONSTRUCT, RENOVATE OR REMODEL SUCH CHILD CARE FACILITY OR THE EQUIPMENT
 THEREIN. THE DEDUCTION CREATED BY THIS SECTION SHALL  BE  DEDUCTED  OVER
 TWENTY-FOUR  MONTHS  COMMENCING  IN THE MONTH IN WHICH SUCH ACQUISITION,
 CONSTRUCTION,  RENOVATION  OR  REMODELING  IS  PUT  INTO  SERVICE.   THE
 DEDUCTION  PROVIDED BY THIS SECTION SHALL BE IN LIEU OF ANY OTHER ALLOW-
 ANCE FOR THE EXHAUSTION OF SUCH PROPERTY USED IN  A  TRADE  OR  BUSINESS
 HELD  FOR THE PRODUCTION OF INCOME, INCLUDING A REASONABLE ALLOWANCE FOR
 OBSOLESCENCE PURSUANT TO SECTION ONE HUNDRED SIXTY-SEVEN OR ONE  HUNDRED
 EIGHTY-EIGHT OF THE INTERNAL REVENUE CODE.
   §  2. Subdivision 9 of section 208 of the tax law is amended by adding
 two new paragraphs (u) and (v) to read as follows:
   (U) A TAXPAYER OPERATING A CHILD CARE FACILITY FOR  PROFIT,  SHALL  BE
 ALLOWED  A  DEDUCTION FROM ENTIRE NET INCOME FOR ANY EXPENDITURE MADE TO
 ACQUIRE, CONSTRUCT, RENOVATE OR REMODEL SUCH CHILD CARE FACILITY OR  THE
 EQUIPMENT  THEREIN.  THE  DEDUCTION  CREATED  BY THIS PARAGRAPH SHALL BE
 DEDUCTED OVER SIXTY MONTHS COMMENCING IN THE MONTH IN WHICH SUCH  ACQUI-
 SITION, CONSTRUCTION, RENOVATION OR REMODELING IS PUT INTO SERVICE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08117-01-3
 A. 4469                             2
              

 
   (V) A TAXPAYER OPERATING A CHILD CARE FACILITY WITHIN THE STATE PRIMA-
 RILY  FOR  THE CHILDREN OF SUCH TAXPAYER'S EMPLOYEES, SHALL BE ALLOWED A
 DEDUCTION FROM THE  ENTIRE  NET  INCOME  FOR  ANY  EXPENDITURE  MADE  TO
 ACQUIRE,  CONSTRUCT, RENOVATE OR REMODEL SUCH CHILD CARE FACILITY OR THE
 EQUIPMENT  THEREIN.  THE  DEDUCTION  CREATED  BY THIS PARAGRAPH SHALL BE
 DEDUCTED OVER TWENTY-FOUR MONTHS COMMENCING IN THE MONTH IN  WHICH  SUCH
 ACQUISITION, CONSTRUCTION, RENOVATION OR REMODELING IS PUT INTO SERVICE.
 THE  DEDUCTION  PROVIDED BY THIS PARAGRAPH SHALL BE IN LIEU OF ANY OTHER
 ALLOWANCE FOR THE EXHAUSTION OF SUCH PROPERTY USED IN A TRADE  OR  BUSI-
 NESS HELD FOR THE PRODUCTION OF INCOME, INCLUDING A REASONABLE ALLOWANCE
 FOR  OBSOLESCENCE  PURSUANT  TO  SECTION  ONE HUNDRED SIXTY-SEVEN OR ONE
 HUNDRED EIGHTY-EIGHT OF THE INTERNAL REVENUE CODE.
   § 3. Subsection (c) of section 612 of the tax law is amended by adding
 two new paragraphs 17 and 18 to read as follows:
   (17) ANY EXPENDITURE MADE BY A TAXPAYER OPERATING A CHILD CARE FACILI-
 TY FOR PROFIT, TO ACQUIRE, CONSTRUCT, RENOVATE  OR  REMODEL  SUCH  CHILD
 CARE  FACILITY  OR  THE EQUIPMENT THEREIN. THE DEDUCTION CREATED BY THIS
 PARAGRAPH SHALL BE DEDUCTED OVER SIXTY MONTHS COMMENCING IN THE MONTH IN
 WHICH SUCH ACQUISITION, CONSTRUCTION, RENOVATION OR  REMODELING  IS  PUT
 INTO SERVICE.
   (18) ANY EXPENDITURE MADE BY A TAXPAYER OPERATING A CHILD CARE FACILI-
 TY  WITHIN  THE  STATE  PRIMARILY  FOR  THE  CHILDREN OF SUCH TAXPAYER'S
 EMPLOYEES, TO ACQUIRE, CONSTRUCT, RENOVATE OR REMODEL  SUCH  CHILD  CARE
 FACILITY  OR  THE EQUIPMENT THEREIN. THE DEDUCTION CREATED BY THIS PARA-
 GRAPH SHALL BE DEDUCTED OVER TWENTY-FOUR MONTHS COMMENCING IN THE  MONTH
 IN WHICH SUCH ACQUISITION, CONSTRUCTION, RENOVATION OR REMODELING IS PUT
 INTO  SERVICE. THE DEDUCTION PROVIDED BY THIS PARAGRAPH SHALL BE IN LIEU
 OF ANY OTHER ALLOWANCE FOR THE EXHAUSTION OF SUCH  PROPERTY  USED  IN  A
 TRADE OR BUSINESS HELD FOR THE PRODUCTION OF INCOME, INCLUDING A REASON-
 ABLE  ALLOWANCE  FOR OBSOLESCENCE PURSUANT TO SECTION ONE HUNDRED SIXTY-
 SEVEN OR ONE HUNDRED EIGHTY-EIGHT OF THE INTERNAL REVENUE CODE.
   § 4.  This act shall take effect immediately.