Senate Bill S9885

2023-2024 Legislative Session

Relates to payment of a supplemental empire state child tax credit

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Rules 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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Bill Amendments

co-Sponsors

2023-S9885 - Details

Current Committee:
Senate Rules
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L

2023-S9885 - Summary

Relates to payment of a supplemental empire state child tax credit for the tax year 2024 and thereafter equal to $1000 per qualified newborn.

2023-S9885 - Sponsor Memo

2023-S9885 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9885
 
                             I N  S E N A T E
 
                              August 2, 2024
                                ___________
 
 Introduced  by  Sen.  ASHBY  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the tax law, in relation to payment  of  a  supplemental
   empire state child tax credit
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subsection (c-1) of section 606 of the tax law  is  amended
 by adding a new paragraph 6 to read as follows:
   (6)  (A)  FOR  TAX  YEAR  TWO THOUSAND TWENTY-FOUR AND THEREAFTER, THE
 COMMISSIONER SHALL ISSUE A PAYMENT OF A SUPPLEMENTAL EMPIRE STATE  CHILD
 CREDIT  IN  THE AMOUNT OF ONE THOUSAND DOLLARS FOR TAXPAYERS WHO QUALIFY
 FOR THE CREDIT ALLOWABLE UNDER SECTION TWENTY-ONE OF THE FEDERAL  INTER-
 NAL  REVENUE  CODE  FOR  EACH QUALIFIED NEWBORN OF THE TAXPAYER.  IF THE
 AMOUNT OF THE CREDIT ALLOWABLE UNDER THIS  SUBSECTION  FOR  ANY  TAXABLE
 YEAR  SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS SHALL BE
 TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN  ACCORD-
 ANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTI-
 CLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   (B)  FOR THE PURPOSES OF THIS PARAGRAPH, THE TERM "NEWBORN" SHALL MEAN
 A CHILD BORN IN THE CURRENT OR PREVIOUS TAX YEAR WHO HAS NOT BEEN PREVI-
 OUSLY CLAIMED AS A DEPENDENT.
   (C) THE SUPPLEMENTAL PAYMENT  PURSUANT  TO  THIS  PARAGRAPH  SHALL  BE
 ALLOWED  TO  TAXPAYERS  WHO TIMELY FILED RETURNS PURSUANT TO SECTION SIX
 HUNDRED FIFTY-ONE OF THIS ARTICLE, AS  DETERMINED  WITH  REGARD  TO  ANY
 EXTENSIONS PURSUANT TO SECTION SIX HUNDRED FIFTY-SEVEN OF THIS ARTICLE.
   § 2. This act shall take effect April 1, 2025.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15973-02-4

co-Sponsors

2023-S9885A (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L

2023-S9885A (ACTIVE) - Summary

Relates to payment of a supplemental empire state child tax credit for the tax year 2024 and thereafter equal to $1000 per qualified newborn.

2023-S9885A (ACTIVE) - Sponsor Memo

2023-S9885A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9885--A
 
                             I N  S E N A T E
 
                              August 2, 2024
                                ___________
 
 Introduced  by  Sens.  ASHBY,  GALLIVAN,  HELMING,  MATTERA,  OBERACKER,
   RHOADS, ROLISON, SCARCELLA-SPANTON, TEDISCO, WEBER -- read  twice  and
   ordered  printed, and when printed to be committed to the Committee on
   Rules -- committee discharged,  bill  amended,  ordered  reprinted  as
   amended and recommitted to said committee
 
 AN  ACT  to  amend the tax law, in relation to payment of a supplemental
   empire state child tax credit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subsection (c-1) of section 606 of the tax law is amended
 by adding a new paragraph 6 to read as follows:
   (6) (A) FOR TAX YEAR TWO  THOUSAND  TWENTY-FOUR  AND  THEREAFTER,  THE
 COMMISSIONER  SHALL ISSUE A PAYMENT OF A SUPPLEMENTAL EMPIRE STATE CHILD
 TAX CREDIT IN THE AMOUNT OF ONE THOUSAND DOLLARS FOR TAXPAYERS WHO QUAL-
 IFY TO CLAIM A NEWBORN AS A  DEPENDENT  AS  DEFINED  UNDER  SECTION  ONE
 HUNDRED  FIFTY-TWO  OF  THE FEDERAL INTERNAL REVENUE CODE, FOR EACH SUCH
 NEWBORN OF THE TAXPAYER THAT MAY BE SO CLAIMED AS A  DEPENDENT.  IF  THE
 AMOUNT  OF  THE  CREDIT  ALLOWABLE UNDER THIS SUBSECTION FOR ANY TAXABLE
 YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS SHALL  BE
 TREATED  AS  AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN ACCORD-
 ANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTI-
 CLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   (B) FOR THE PURPOSES OF THIS PARAGRAPH, THE TERM "NEWBORN" SHALL  MEAN
 A CHILD BORN IN THE CURRENT OR PREVIOUS TAX YEAR WHO HAS NOT BEEN PREVI-
 OUSLY CLAIMED AS A DEPENDENT.
   (C)  THE  SUPPLEMENTAL  PAYMENT  PURSUANT  TO  THIS PARAGRAPH SHALL BE
 ALLOWED TO TAXPAYERS WHO TIMELY FILED RETURNS PURSUANT  TO  SECTION  SIX
 HUNDRED  FIFTY-ONE  OF  THIS  ARTICLE,  AS DETERMINED WITH REGARD TO ANY
 EXTENSIONS PURSUANT TO SECTION SIX HUNDRED FIFTY-SEVEN OF THIS ARTICLE.
   § 2. This act shall take effect April 1, 2025.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15973-03-4

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