Senate Bill S4487

2025-2026 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 Budget And Revenue 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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2025-S4487 (ACTIVE) - Details

Current Committee:
Senate Budget And Revenue
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2023-2024 Legislative Session:
S9885

2025-S4487 (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.

2025-S4487 (ACTIVE) - Sponsor Memo

2025-S4487 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4487
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 5, 2025
                                ___________
 
 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
   Budget and Revenue
 
 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-SIX 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, 2026.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08938-01-5

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