Bill Text: NY A09245 | 2023-2024 | General Assembly | Introduced
Bill Title: Increases the aggregate funds available for the child care tax credit for businesses that provide child care services.
Spectrum: Partisan Bill (Republican 31-0)
Status: (Introduced) 2024-02-22 - referred to ways and means [A09245 Detail]
Download: New_York-2023-A09245-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 9245 IN ASSEMBLY 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: 1 Section 1. Section 394-e of the social services law, as added by 2 section 1 of part G of chapter 59 of the laws of 2023, is amended to 3 read as follows: 4 § 394-e. Allocation of credit. The aggregate amount of tax credits 5 allowed under this title, subdivision fifty-nine of section two hundred 6 ten-B, subsection (ooo) of section six hundred six and subdivision (ee) 7 of section fifteen hundred eleven of the tax law shall be [twenty-five] 8 fifty million dollars each year during the period two thousand twenty- 9 three and two thousand twenty-four. Such aggregate amount of credits 10 shall be allocated by the office on a pro rata basis to each business 11 entity that demonstrates eligibility pursuant to section three hundred 12 ninety-four-b of this title. 13 § 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
