Assembly Bill A9245

2023-2024 Legislative Session

Increases the aggregate funds available for the child care tax credit

download bill text pdf

Sponsored By

Current 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

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2023-A9245 (ACTIVE) - Details

See Senate Version of this Bill:
S9403
Current Committee:
Assembly Ways And Means
Law Section:
Social Services Law
Laws Affected:
Amd §394-e, Soc Serv L

2023-A9245 (ACTIVE) - Summary

Increases the aggregate funds available for the child care tax credit for businesses that provide child care services.

2023-A9245 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9245
 
                           I N  A S S E M B L Y
 
                             February 22, 2024
                                ___________
 
 Introduced  by M. of A. RA, JENSEN, GANDOLFO, MAHER, SLATER -- read once
   and referred to the Committee on Ways and Means
 
 AN ACT to amend the social services law, in relation to  increasing  the
   aggregate  amount  of  tax credits available for business entities who
   provide child care services
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  394-e  of  the  social services law, as added by
 section 1 of part G of chapter 59 of the laws of  2023,  is  amended  to
 read as follows:
   §  394-e.  Allocation  of  credit. The aggregate amount of tax credits
 allowed under this title, subdivision fifty-nine of section two  hundred
 ten-B,  subsection (ooo) of section six hundred six and subdivision (ee)
 of section fifteen hundred eleven of the tax law shall be  [twenty-five]
 FIFTY  million  dollars each year during the period two thousand twenty-
 three and two thousand twenty-four. Such  aggregate  amount  of  credits
 shall  be  allocated  by the office on a pro rata basis to each business
 entity that demonstrates eligibility pursuant to section  three  hundred
 ninety-four-b of this title.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13720-01-3

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